OCEANSIDE, CA., August 5, 1999 - Greenland Corporation (OTC BB: GLCP) today reported that it had finalized the sale and placement locations of 90 SmartCash ATMs. Dr. Louis Montulli, CEO of Greenland Corporation, reported that Greenland Corporation, in conjunction with its exclusive national distributor, SmartCash ATM Ltd. of Dallas, Texas, had consummated the sale of 90 SmartCash ATMs to be placed at site locations in California, Nevada, North Carolina, South Carolina, Georgia and Tennessee. Dr. Montulli stated, "The Company, as a result of launching an aggressive national sales and marketing program, and through prior efforts of identifying specific site locations, has consummated the sale of 90 SmartCash ATMs scheduled for delivery commencing September and continuing through December. The first three machines will be installed in Perris and San Francisco, California. The placement of two machines in San Francisco, California, are particularly significant because they are with the National Association of Korean Markets, which represents approximately 4,000 member stores throughout the United States. SmartCash ATM Ltd. has an exclusive arrangement with the Korean markets for purchases of 10 machines in September and 10 machines in October." He further noted, "The majority of the sales are related to commitments for volume purchases from distributors with exclusive arrangements with SmartCash ATM Ltd., including Cabe & Cato, an Atlanta, Georgia based company, Classic Concepts, an Elloree, South Carolina based company, Reno ATM and Post-Dated Check Express, Nevada based companies and the Money Marketing, a New Jersey based Korean company. Each have committed to purchase between 8-14 machines per month, in addition to their initial machine purchases included in this 90 unit order, to maintain their territorial exclusivity." "The sale of these 90 machines has either been financed through leasing arrangements with SmartCash Leasing (an affiliate of SmartCash ATM Ltd.), for which the purchaser has been approved, or required to place a 50% down payment and the balance due prior to shipment. The Company received its first cash sale in Atlanta Georgia." Dr. Montulli further stated, "These sales represent the first step in filling the purchase order for 385 machines submitted by SmartCash ATM Ltd., in the second quarter of this year, and are a result of the first three months of a joint marketing program by the Greenland and SmartCash ATM Ltd. team. Clearly, these sales represent a very positive market acceptance of the SmartCash ATM machine." Greenland Corporation is a manufacturing corporation with existing product and product under development. The Company is currently introducing an automated payroll check-cashing machine with full ATM functionality, and money order dispensing services. Future services to be included with the machine are phone cards and payday advance services. CONTACT: Ed Sano, Investor Relations, 760-414-9941 http://www.greenlandcorp.com
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