GRNTF iPath Global Carbon (PK)

GreenMan Technologies, Inc. (AMEX: GRN) a leading recycler of approximately 20 million scrap tires per year in the United States, today announced that on June 5, 2006 its outside directors in conjunction with several officers agreed to convert approximately $83,000 of amounts due them into approximately 229,000 unregistered shares of GreenMan's common stock at the closing price on June 5, 2006. GreenMan's outside directors, Dr. Allen Kahn, Nicholas DeBenedictis and Lew Boyd, agreed to convert approximately $58,000 of amounts due them into approximately 160,000 shares of unregistered GreenMan common stock. In addition Chairman, Maury Needham, CEO, Lyle Jensen and CFO, Chuck Coppa agreed to convert approximately $25,000 of amounts due them into approximately 69,000 shares of unregistered GreenMan common stock. Maury Needham, GreenMan's Chairman of the Board of Directors, stated, "During the past 60 days since we announced Lyle Jenson's new role as President and Chief Executive Officer, our Board of Directors and senior management have purchased over 1 million unregistered shares of GreenMan's common stock with a full appreciation that today's delisting announcement could be a possibility. These actions, clearly underscore the ongoing long term commitment of our Board of Directors and senior management team in the future viability and prosperity of GreenMan." "Safe Harbor" Statement: Under the Private Securities Litigation Reform Act With the exception of the historical information contained in this news release, the matters described herein contain 'forward-looking' statements that involve risk and uncertainties that may individually or collectively impact the matters herein described, including but not limited to the possibility that we may not be able to secure the financing necessary to return to profitability, the pending delisting of our common stock by the American Stock Exchange, the possibility that we may not realize the benefits of product acceptance, economic, competitive, governmental, seasonal, management, technological and/or other factors outside the control of the Company, which are detailed from time to time in the Company's SEC reports, including the quarterly report on Form 10-QSB for the fiscal period ended March 31,2006. The Company disclaims any intent or obligation to update these "forward-looking" statements.