GBH Green Builders

AUSTIN, Texas, Sept. 15 /PRNewswire-FirstCall/ -- Green Builders, Inc. (AMEX:GBH) today announced it has received notice from the staff of the American Stock Exchange (AMEX) that it is not in compliance with the reporting requirements for continued listing on AMEX set forth in Section 803(B)(2)(c) of the AMEX Company Guide due to Green Builders' failure to have an audit committee comprised of at least two independent directors. On September 3, 2008, Green Builders notified AMEX that as a result of Barry Williamson and Christopher Ney's resignation as directors of Green Builders, the Audit Committee would not consist of two independent directors as required by Section 803(B)(2)(c) of the AMEX Company Guide. As a result, Green Builders has not been in compliance with Section 803(B)(2)(c) of the AMEX Company Guide since September 3, 2008. In its notice, AMEX advised Green Builders that Green Builders has until the earlier of next annual shareholders' meeting or September 3, 2009 to regain compliance with the AMEX requirements. AMEX further advised Green Builders that in setting the deadline for compliance with the AMEX requirements, AMEX determined not to apply, at this time, the continued listing evaluation and follow-up procedures specified in Section 1009 of the Company Guide. Because Green Builders currently is not in compliance with the AMEX continued listing standards, however, the notice constitutes a warning letter pursuant to Section 1009(a)(i) of the Company Guide and notice of failure to satisfy a continued listing standard. In its notice, AMEX also advised Green Builders that if Green Builders fails to regain compliance with Section 803(B)(2)(c) of the Company Guide on or before the earlier of next annual shareholders' meeting or September 3, 2009, or the occurrence of any subsequent failure to comply with any other continued listing requirements will result in the Staff assessing Green Builders' continued listing eligibility including, as appropriate, the application of the continued listing evaluation and follow-up procedures specified in Section 1009 of the Company Guide and/or initiation of delisting proceedings. Green Builders intends to promptly take all necessary actions to regain compliance with the AMEX continued listing standards within the time frame noted above. Green Builders' Board of Directors is currently considering candidates who will qualify to serve on the Audit Committee, including determining if a current board member meets the eligibility requirements of AMEX to serve as an independent member of the audit committee. About Green Builders, Inc. Green Builders, Inc. (AMEX:GBH) combines the equal necessities of progress and preservation by building homes that tread lightly on the earth. Our success is measured by continued sales in a growing number of sustainable communities, which we believe to be vital to a sustainable planet. With respect for the world's resources and for the needs of our clients, we create healthy, beautiful, long-lasting homes that people, and the earth, can afford. To learn more visit, http://www.greenbuildersinc.com/. Safe Harbor Statement Some statements are "forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to anticipated events, trends, or results and generally include words such as could, can, anticipate, believe, expect, seek, pursue, proposed, potential and similar words and terms in connection with future results. These statements are subject to risks. Many factors could cause actual results to differ materially from those anticipated in forward-looking statements, including factors described under "Risk Factors" in our Annual Report on Form 10-KSB filed December 31, 2007. The Company assumes no obligation to update or supplement such forward-looking statements. DATASOURCE: Green Builders, Inc. CONTACT: Investors, Cindy Hammes of Green Builders, Inc., +1-512-314-6759, Web site: http://www.greenbuildersinc.com/

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