December 30, 2008 14:29 ET

GMND Licenses Technology and Buys Control Stock From BUGS

Company Licenses Organic Agriculture Technology and Becomes Independent Company

CARLSBAD, CA--(Marketwire - December 30, 2008) - Robert Brehm, CEO of Green Mountain Development Corp. (PINKSHEETS: GMND), an incubator of green technology companies, announced today that the company has obtained a license to manufacture, distribute and use microbial technology for organic sustainable agricultural applications. In a concurrent transaction, the company became independent by purchasing all of the voting control stock of GMND from U.S. Microbics, Inc. (PINKSHEETS: BUGS), its parent company. Both transactions were undertaken to strengthen the financial position of the company and prepare for future funding and agricultural product sales.

The company has formed a subsidiary for the agricultural products, contracted an independent consultant who has developed a business plan for funding and product commercialization and the company is currently interviewing investors for joint venture or direct investment into the operation. Under business plan assumptions, pro forma revenue projections are $10-15MM in three years requiring $2MM initial investment and new management with agriculture product experience. During the first year after initial funding, the subsidiary will focus on finalizing the brands and packaging, fermenting the microbial blends, launching retail and wholesale marketing and sales, field testing for multiple markets, and adapting the current liquid products to dry forms for agricultural markets.

Brehm stated, "The parent company strategy is to provide resources for business organization, staffing, market identification, strategic business plan development, and product rollout for subsidiaries or joint ventures managed by industry specific experts, develop the subsidiaries to a predefined milestone stage and sell or spin them off as independent companies and harvest a profit for our efforts throughout the process."

Brehm continued, "The transactions announced today are very beneficial to GMND and I hope our shareholders recognize that significant changes are being planned to create real value now and in the future. We are evaluating additional debt to equity conversions to strengthen our financial statements as we transition to new green business opportunities."

About Green Mountain Development Corp.

Green Mountain Development Corp. is an incubator for green technology companies which provide natural solutions for the environmental challenges of growth using the management expertise and infrastructure of GMND.

Investors and media contact Bob Brehm at bob@greenbizness.com or visit www.greenbizness.com.

The information contained in this press release includes forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect" or similar expressions that involve risks and uncertainties. These risks and uncertainties include the company's status as a startup company with uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The company's actual results could differ materially from those discussed herein.