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NEWPORT BEACH, Calif.--([ BUSINESS WIRE ])--Green Automotive Company (OTC:GACR) announced today that it will be merging into the Companyas wholly owned subsidiary, Matter of Time I Inc., immediately following the completion of the Companyas audit of its financial statements for the years ended 2009 and 2010, and a review of the statements for the nine months ended September 30, 2011. Upon completion of the merger, the Company will succeed to the reporting obligations of Matter of Time I Inc. and will become a fully reporting issuer.

"This method of becoming a reporting issuer"

As announced last month, the Company acquired all of the issued and outstanding voting securities of Matter of Time as part of its plan to have its shares registered under the Securities Exchange Act of 1934.

aThis method of becoming a reporting issuera, said Fred Luke, President of Green Automotive, ais well established and conforms to applicable securities laws and regulations, and is does not result in any dilution for our shareholders. Following the merger, Matter of Time I Inc. will cease to exist and the surviving corporation will be Green Automotive Company. Additionally, the Company will request a new Cusip Number and file a aSuper 8-Ka with full registration statement level disclosure of its business and financial statements. All shareholders holding certificates which read aGreen Automotive Company, Inc.a will be required to submit those certificates to the Companyas new Transfer Agent, Action Stock Transfer, for re-issuance. The contact information for Action Stock Transfer can be found on the OTCMarkets.com web site at [ http://www.otcmarkets.com/stock/GACR/company-info ]. Following the merger the Company will begin filing all financial and other material information with the Securities and Exchange Commission, which can be found on the SECas web site [ www.sec.gov/edgar/searchedgar/companysearch.html ]. Until the Companyas audit is completed, Matter of Time I Inc. will remain a wholly-owned subsidiary of the Company.a

About Green Automotive Company: Green Automotive Company Corporation is a U.S. public company involved in the import and distribution of Eco-friendly vehicles. The Company is presently planning to bring All-Electric and other Eco-friendly vehicles into the United States market. The Company is currently testing an All-Electric SUV and an all-electric MPV for introduction to the U.S. market in 2012. The Company maintains its Corporate Office in Newport Beach, California and its Dealership Services Office in Lewisville, Texas. Green Automotive Company shares are traded on the OTC Market Tier--OTC Pink Current under the symbol "GACR". For more information visit [ www.usaelectricauto.com ] or write to [ info@usaelectricauto.com ].

Safe Harbor Statement - This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual or future results may differ materially from those anticipated depending on a variety of factors, including continued maintenance of favorable license arrangements, success of market research identifying new product opportunities, successful introduction of new products, continued product innovation, sales and earnings growth, ability to attract and retain key personnel, and general economic conditions affecting consumer spending. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Green Automotive Company Corporation incorporates by reference its disclosure and financial statements posted on [ www.otcmarkets.com ], and does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.