2006-11-13 Greystone Logistics, Inc. Expands Recycled Plastic Pallet Line

Greystone Logistics, Inc. (OTCBB: GLGI) introduced two new product lines at the 2006 PACK EXPO International in Chicago last week. A 48x40 rackable pallet and a light weight export pallet were on display at the show.

Warren Kruger CEO of Greystone stated, "These two new products complement our environmentally friendly line of 100% recycled plastic pallets. Our rackable pallet conforms to the Grocer Manufacturer Association (GMA) standards. The pallet was created for our pallet lease pool and large industry users and integrates the recycled plastic pallet manufacturing expertise of Greystone with a product design proven in the beverage industry. The export pallet was designed to displace wood and sells for less than $10."

About Greystone Logistics, Inc.

Greystone is a plastic pallet manufacturer that utilizes patented proprietary technologies and designs to produce high quality, recycled plastic pallets. Greystone serves the beverage, pharmaceutical and other industries.

Forward-Looking Statements

This press release includes certain statements that may be deemed "forward-looking statements" within the meaning of the federal securities laws. All statements, other than statements of historical facts, that address activities, events or developments that Greystone expects, believes or anticipates will or may occur in the future, including the potential sales of pallets, the improvement of operating results or other possible business developments, are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties. The forward-looking statements above could be affected by any of the following factors: Greystone's prospects could be affected by changes in availability of raw materials, competition, rapid technological change and new legislation regarding environmental matters. These risks and other risks that could affect Greystone's business are more fully described in its reports filed with the Securities and Exchange Commission, including Greystone's Form 10-KSB for the fiscal year ended May 31, 2005. Actual results may vary materially from the forward-looking statements. Greystone undertakes no duty to update any of the forward-looking statements in this release.

CONTACT:
Warren F. Kruger
CEO
Corporate Office
1613 East 15th Street
Tulsa, Oklahoma 74120
(918) 583-7441
(918) 583-7442
www.greystonelogistics-glgi.com