United Ethanol Licenses GreenShift’s Patented Corn Oil Extraction Technology

GreenShift Corporation (OTC Bulletin Board: GERS) today announced its execution of a license agreement with United Ethanol, LLC ("United Ethanol”) for use of GreenShift’s patented corn oil extraction technologies at United Ethanol’s 50 million gallon ethanol plant in Milton, Wisconsin.

In addition, GreenShift and United Ethanol entered into a development services agreement pursuant to which GreenShift will provide equipment and services relating to the engineering, construction and ongoing operation of a patented corn oil extraction facility at United Ethanol’s facility.

Dave Cramer, of United Ethanol, stated that: "United Ethanol’s mission is to maximize returns for our investors, and extracting corn oil from DDG’s will help us do that; cost effectively. The installation and the ongoing operation of the corn oil extractions system will also have a positive economic impact on our local community.”

David Winsness, GreenShift’s Chief Technology Officer, added: "We are pleased and excited to have the opportunity to partner with United Ethanol and we look forward to getting to work.”

GreenShift’s technical services staff are available at 888-ETHANOIL or sales@greenshift.com to respond to quotation requests and to answer any questions about GreenShift’s corn oil extraction and other technologies.

About United Ethanol, LLC

United Ethanol began operating on March 29, 2007, and is producing 50 million gallons of ethanol per year. On top of generating fuel that helps to reduce dependence on foreign oil and making the air cleaner, United Ethanol converts approximately 15 million bushels of corn per year, further supporting American farmers. In 2009, United Ethanol produced more than 110,000 tons of dry distiller’s grain and more than 14,000 tons of wet distiller’s grain, both highly valuable feed co-products for the livestock community.

About GreenShift Corporation

GreenShift Corporation (OTC Bulletin Board: GERS) develops and commercializes clean technologies designed to address the financial and environmental needs of its clients by decreasing raw material needs, facilitating co-product reuse, and reducing the generation of wastes and emissions.

GreenShift’s mission is to build shareholder value by using its technologies to catalyze disruptive environmental gain. GreenShift believes that the first, best and most cost-effective way to achieve this is to develop technology-driven economic incentives that motivate large populations of people and companies to make incremental environmental contributions that are collectively very significant. With adoption by most of the U.S. ethanol industry, GreenShift’s commercially-available technologies can give way to disruptive gains by enabling sustainably increased production of globally-meaningful quantities of renewable fuels for distribution through existing supply chains. GreenShift also maintains its strong commitment to continued innovation and has many additional patents pending for its Backend Fractionation™ portfolio of strategically-compatible cleantech designed to continue driving the corn ethanol industry into increased sustainability and global competitiveness.

Additional information on GreenShift and its technologies is available online at www.greenshift.com.

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of GreenShift Corporation and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully, and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.