-This landmark merger will jump-start NYIL.s mission to emerge as the leading supplier of wood fiber fuel to European and domestic markets, positioning it as a clear and early leader within the $35 billion renewable energy market. With operating synergies between NYIL.s domestic supply and distribution network and ICL.s established downstream operations with logistics, management, and operations of biomass energy plants, the new integrated company will be able to emerge as a vertically integrated biomass energy conglomerate, with a dominant position in the supply, delivery, and operation of biomass energy operations.

Green Energy Resources -Formerly New York International Log & Lumber Co.- Announces Agreement to Merge with Largest Importer of Woodfiber Fuel -Biomass- in Europe -Tuesday August 24, 1:00 am ET

CREMONA, Italy & HUNTINGTON, N.Y.--(BUSINESS WIRE)--Aug. 24, 2004--Green Energy Resources, Inc. (OTC.PK: NYIL) a bio-energy supply company that sells biomass wood products, with offices in the UK and Spain, announces it has agreed in principle to merge with Italiana Commissionaria Legnami (ICL) of Monza, Italy. ICL has offices in New York and Brazil. The terms of the merger have not been disclosed.

ICL is the largest importer of woodfiber fuel in Italy. In 2003 ICL supplied approximately 80,000 tons of woodchips per month to the Italian market. The proposed merger will seek to capture the vertical market from procurement, to transportation, to power generation plants and would create one of the largest international biomass/ renewable energy companies in the world today. The combined company is expected to have a capacity to deliver well over one million tons of woodfiber fuel annually. The product is delivered by the two woodchip carriers under contract to existing power plants. All the biomass fuels comply with the strict UTCS certification system and the Kyoto protocol.

Europe is currently leading the world in renewable energy implementation polices. The European Union (EU) plans to double the share of renewable energy, from the present 6% to 12% by 2012. The merger would include Green Certificate contracts that will generate approximately $150,000,000 ($150million USD) in gross revenues annually for the company through guaranteed sales called for by CIP 6 through 2012 totaling over 1 Billion dollars. Plans also include contracts for up to three more woodchip carriers to be purchased or built by the company.

Mr. Joseph C. Murray, the C.E.O. of Green Energy Resources, stated "The proposed merger is expected to be a major boost for the renewable energy industry, preservation of global forests, Green Certificates, biomass in particular, and a major step forward in bringing the United States to recognize the potential business opportunities of the Kyoto accord. Mr. Murray commented further "I am pleased and excited about the potential opportunities in this industry, in the USA and internationally, and of course, working directly with ICL as a partner".

New York Log and Lumber now called Green Energy Resources, Inc. (OTC:NYIL) is an emerging green energy powerhouse in the making, with rapidly expanding operations in the delivery and distribution of wood fiber biomass fuel for energy generation facilities in Europe and North America. The Company has already posted profitable operations, and with contracts already in place, is set to see revenues of more than $50 million over the next three years!!! With a leading position in the wood fiber biomass energy supply industry, established export operations to European clients, and development of a US distribution network, NYIL is poised to see tremendous growth and emerge as a major green energy company.

NYIL provides wood fiber biomass fuel required for generation of clean, environmentally friendly energy, using waste and recycled materials for export to European energy plants, and is working to develop a domestic delivery infrastructure that will supply the growing US market demand for green energy.

NYIL is one of the first US companies to target this tremendous and rapidly growing opportunity for clean, renewable energy production through biomass. NYIL is a leading US provider of green energy wood fiber biomass fuel for energy generation.

This should hit the $1 mark sometime next week as people start catching on.