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News Release

Web site: http://www.investgreenland.com

Oceanside, California - March 20, 2000

Greenland Corporation (OTC Bulletin Board: GLCP), a provider of automated financial services machines that provide payroll check-cashing, payday advances, ATM functionality, phone card sales and money order dispensing services and bill paying, announced today that it has repurchased the rights to the Master Distributorship contract for its automated financial services machines from RBSA and its affiliate, SmartCash ATM. Ltd. The purchase was in an undisclosed amount of cash and stock. RBSA, a leading national distributor of ATM machines will continue to operate as a key distributor of Greenland and will market and sell Greenland's financial services machines on a non-exclusive basis.

"The repurchase of the rights to the Master Distributorship from RBSA provides Greenland several outstanding advantages," said Greenland Corporation's CEO, Dr. Louis T. Montulli. "First, it increases Greenland's gross hardware and software profits by approximately 25%. Second, it allows Greenland to work directly with the hundreds of Independent Sales Representatives signed up to sell Greenland's machines. Third, it provides Greenland Corporation unencumbered access to corporate chain market sales such as Wal-Mart and Piggly Wiggly.

Although RBSA has made a major contribution to the sales and marketing efforts of Greenland and we fully anticipate that they will remain a key distributor for Greenland, Greenland needed the flexibility to control its sales and marketing to meet the demand from various chains and potential institutional customers.

Dr. Montulli further stated, "This transaction is an excellent opportunity for Greenland and RBSA and we look forward to an excellent future relationship."

More than ten million dollars and five years time has been spent in developing Greenland's automated financial services machines, which, unlike its competition, offer numerous automated banking features. In the future, Internet sales shall be added to complete the process of offering the customer the maximum financial and commodity point of sale services where he or she shops every day. The Company estimates that the payroll check-cashing industry alone serves a population that transacts approximately one trillion dollars annually and generates an estimated $1.5 billion in annual fees.

Additionally, it has been estimated that about 28% of working Americans do not have a formal banking relationship. As a result, check-cashing and payday advance businesses are proliferating throughout the U.S.

About Greenland Corporation

Greenland Corporation is a developer and manufacturer of automated payroll check-cashing machines with full ATM functionality, phone card sales, money order dispensing and payday advance services. The Company's automated financial services machines are being developed to provide dispensing of travelers checks, wire transfers, bill paying and electronic benefit transfers in addition to cashing payroll and government checks. The company's common stock trades on the OTC Bulletin Board under the symbol "GLCP." Visit Greenland Corporation on the Internet at www.greenlandcorp.com.

Except for historical financial information that may be contained herein, the matters set forth in this release are forward-looking statements that are dependent on certain risks and uncertainties including, but not limited to, such factors as market demand, pricing, and changes in worldwide economic conditions.

Source Greenland Corporation

Web site: http://www.investgreenland.com

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