Green Mountain Recovery Purchases $4.7 Million of Charged-Off Receivables

New York, N.Y.-based Green Mountain Recovery, Inc. (OTC: GRNN) announced that it has purchased a $4.7 million portfolio of charged-off receivables that includes a mixture of charged-off credit card debt, automobile deficiencies and consumer loans that originated from prime issuers. The portfolio consists of over 900 individual accounts located primarily in the Northeast. The Company plans on implementing an aggressive legal strategy in order to liquidate the portfolio at favorable rates.

"With an increase in supply of consumer debt, we are seeing more opportunities to purchase quality paper at attractive prices that fits well with our collection strategy," said Joseph Levi, President of the Company. Mr. Levi added that "the Company believes that its collection strategy is well-suited to maximize returns under current market conditions."

About Green Mountain Recovery, Inc.
Green Mountain Recovery, Inc. acquires, manages and liquidates portfolios of charged-off consumer receivables.