GSB Financial Services, Inc.: Presence in China

WILMINGTON, Del.--Sept. 29, 2004--GSB Financial Services (Pink Sheets: GSBF) previously announced the Company is expanding into the Electric Vehicle market, today announced that it has reached an agreement to acquire GTT Products (www.gttproducts.com), a company specializing in mass distribution of products from China. This includes electric bikes, golf carts, electric vehicles, electric scooters and battery technology.

GTT Products has demonstrated to "GSBF" that a definite market for their product line exists. GSBF'S purchase of GTT Products completes the long-term commitment to the Business Model, which adheres to the market demands for quality and lower prices to the everyday customer. This information is based on extensive research with "big box superstores" Costco, Wal-Mart and independent retailers and distributors.

GTT Products is preparing to launch its first containers from China. These products include ATV's, dirt bikes, pocket bikes, electric transportation and other exciting recreational products for the North America market. We believe GTT Products will create a significant positive change to the buying trend of consumers within the electric vehicle transportation revolution. Welcome to the 21st century.

GSBF, a distributor of recreational products through GTT Products, will be steadily expanding its product line and client base, seizing opportunities to build brand awareness in the growth-orientated electric vehicles and recreational product market, sales are expected for the last quarter of 2004 and an increase of 30% growth in the first quarter of 2005.

THIS PRESS RELEASE MAY INCLUDE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF SECTION 27A OF THE SECURITIES ACT OF 1933 AND SECTION 21E OF THE SECURITIES ACT OF 1934. THESE STATEMENTS ARE BASED ON THE COMPANY'S CURRENT EXPECTATIONS AS TO THE FUTURE EVENTS. HOWEVER, THE FORWARD-LOOKING EVENTS AND CIRCUMSTANCES DISCUSSED IN THIS PRESS RELEASE MIGHT NOT OCCUR AND ACTUAL RESULTS COULD DIFFER MATERIALLY FROM THOSE ANTICIPATED OR IMPLIED IN THE FORWARD-LOOKING STATEMENTS.