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NEWPORT BEACH, Calif.--([ BUSINESS WIRE ])--Green Automotive Company (OTC: GACR) announced today that it has entered into a Merger Agreement and Plan of Reorganization with its wholly owned subsidiary, Matter of Time I Inc.

"and the completion of the audited financial statements for Green Automotive, following which Green Automotive expects to file its Form 8-K which will include full registration statement level disclosure of the combined business and financial statements."

According to Mr. Fred Luke, President of Green Automotive, the merger of the two companies will result in Matter of Time I Inc. dissolving into and becoming part of Green Automotive, which will be the surviving corporation and reporting issuer. The details of the merger transaction will be available in Matter of Time I Inc.as Form 8-K which the Company will file and which can be found next week on the Securities and Exchange Commissionas (SEC) web site, [ www.sec.gov/edgar/searchedgar/companysearch.html ].

aThe merger will close following the filing of the Matter of Time annual report on Form 10-K,a said Mr. Luke, aand the completion of the audited financial statements for Green Automotive, following which Green Automotive expects to file its Form 8-K which will include full registration statement level disclosure of the combined business and financial statements.a

Mr. Luke went on to say, aAs a areporting issuera, in order to serve all of our current and future shareholders in a more efficient manner, Green Automotive will be switching over to email distribution of its quarterly and annual financial reports, other periodic material events as required on Form 8-K, and direct delivery of all news announcements. To effectively do this, we are asking shareholders and those following the Company to complete the form that the Company will be mailing soon, or simply go to [ http://www.usaelectricauto.com/shareholders/info-form ] and complete the form on the Companyas web site. This will enable us to deliver all pertinent information to our shareholders and those following the Company either electronically in real time concurrently with the filing of reports with the SEC and release of news to the news agencies.a

Upon completion of the merger, shareholders of Matter of Time and Green Automotive holding certificates will need to submit those certificates to Green Automotiveas new Transfer Agent, Action Stock Transfer, for re-issuance. Action Stock Transferas mailing address and other information on the Companyas Transfer Agent, can be found on its web site [ http://www.otcmarkets.com/service-provider/Action-Stock-Transfer-Corporation?id=2350&b=n&filterOn=6 ]. The information needed for the Companyas electronic distribution program to reach as many of its shareholders as possible in areal timea, the Company will need the certain contact information which can be found at [ http://www.usaelectricauto.com/shareholder-request-form.html ].

About Green Automotive Company: Green Automotive Company is a US 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 involved in assessing a number of All-Electric and alternate fuel vehicles including an All-Electric Intra-City and Municipal Mass Transit Bus and School Bus, for introduction to the US market. 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 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.