The Penny Stocks to Watch

BOSTON, June 24, 2010 (GLOBE NEWSWIRE) — Converted Organics™ Inc. (Nasdaq:COIN), today announced that it has been named the winner of The Ad Club’s 2010 The Idea Award, in the start-up brand category. The award was presented by representatives from The Boston Globe to David A. Flannery, Converted Organics’ Vice President of Marketing, during The Ad Club’s EDGE Conference: Branded in Boston.

The Ad Club, in partnership with The Boston Globe, created The Idea Award in an effort “to honor the biggest and brightest thinker working at the intersection of Boston’s creative and innovation economies.” Award nominations were open to the public and were designated to celebrate local individuals, brands and companies that live and thrive in the city of Boston, but foster innovation and revolutionary ideas that, according to The Ad Club, have the potential for global impact and to help change our world for the better.

Converted Organics™ manufactures all-natural, organic fertilizers made from food waste recycling, which are sold into both the retail and professional lawn and garden markets. As a clean technology company, Converted Organics™ is committed to effectively disposing of food waste without producing harmful greenhouse gases and is a sustainable alternative to urban landfills.

“We are honored to accept this award, and it is heartening to learn that The Boston Globe and the Ad Club have recognized the value of what Converted Organics™ and our supporters seek to accomplish. We believe that the conversion of food waste into organic fertilizer is a revolutionary idea that will impact and shape the world in which we live as these products continue to gain market acceptance,” said Flannery. “Every year in the United States, 31 million tons of food waste is disposed of in landfills, where it decomposes to create methane — a greenhouse gas 20 times more environmentally destructive than CO2. Our mission is to reduce the amount of food waste that ends up in landfills while creating a value-added product, and we are pleased that these efforts have been recognized today.”

Converted Organics facilities are located near Woodbridge, NJ and in Gonzales, CA. The Company uses its proprietary High Temperature Liquid Composting (HTLC) system to process food wastes into organic fertilizers that help grow healthier food and improve environmental quality. Its family of products can successfully replace synthetic fertilizers and are safe for children, pets and the environment.

About Converted Organics Inc.

Converted Organics (Nasdaq:COIN) (www.convertedorganics.com), based in Boston, MA, is dedicated to producing high-quality, all-natural, organic soil amendment and fertilizer products through food waste recycling. The Company uses its proprietary High Temperature Liquid Composting (HTLC) system, a proven, state-of-the-art microbial digestion technology, to process various biodegradable food wastes into dry pellet and liquid concentrate organic fertilizers that help grow healthier food and improve environmental quality. Converted Organics sells and distributes its environmentally-friendly fertilizer products in the retail, professional turf management and agribusiness markets.

The Converted Organics Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7431

About The Ad Club

The Ad Club is the trade association for the New England marketing & communications Industry. Focused on networking, education, professional development, advocacy, and diversity, The Ad Club presents over 30 events and programs every year. Legacy events like the Hatch Awards, Media Auction, and Rosoff Awards run side-by-side with the latest in new media and the digital landscape. The Ad Club’s membership represents the best in class advertising agencies, media companies, and brands in the New England region.

About The Boston Globe

The Boston Globe is wholly owned by The New York Times Company, a leading media company with 2009 revenues of .4 billion, which includes The New York Times, the International Herald Tribune, The Boston Globe, 15 other daily newspapers and more than 50 Web sites, including NYTimes.com, Boston.com  and About.com. The Company’s core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment.

This press release contains forward-looking statements that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, financial condition, liquidity, results of operations, plans and objectives. In some cases, you may identify forward-looking statements by words such as “may,” “should,” “plan,” “intend,” “potential,” “continue,” “believe,” “expect,” “predict,” “anticipate” and “estimate,” the negative of these words or other comparable words. Forward-looking statements include the ongoing customer demand for the Company’s products and the Company’s ability to continue to become more efficient in its operations. These statements are only predictions. One should not place undue reliance on these forward-looking statements. The forward-looking statements are qualified by their terms and/or important factors, many of which are outside the Company’s control, involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially from the statements made. The forward-looking statements are based on the Company’s beliefs, assumptions and expectations of our future performance, taking into account information currently available to the Company. These beliefs, assumptions and expectations can change as a result of many possible events or factors, including those events and factors described in the “Risk Factors” section in the Company’s most recently filed annual report on Form 10-K, as updated in the Company’s quarterly reports on Form 10-Q filed since the annual report, not all of which are known to the Company. Neither the Company nor any other person assumes responsibility for the accuracy or completeness of these statements. The Company will update the information in this press release only to the extent required under applicable securities laws. If a change occurs, the Company’s business, financial condition, liquidity and results of operations may vary materially from those expressed in the aforementioned forward-looking statements.

COIN-G

CONTACT:  The Piacente Group, Inc.
          Investor Relations Contact:
          Lee Roth
          212-481-2050
          coin@tpg-ir.com

          PR Financial Marketing
          Investor Relations Contact:
          Jim Blackman
          713-256-0369
          jim@prfmonline.com

          Converted Organics Inc.
          Public Relations Contact:
          Kaitlyn Siner
          617-624-0111
          ksiner@convertedorganics.com