Mr. Iain Stewart reports

GENESIS LAND DEVELOPMENT CORP. ANNOUNCES APPOINTMENT OF NEW DIRECTOR

Genesis Land Development Corp. has appointed Calvin Younger as a member of the board of directors of the corporation, effective immediately.

Mr. Younger is senior vice-president and head, real estate finance -- Canada, business and corporate banking, with CIBC. Prior to joining CIBC in 2001, Mr. Younger held various executive positions in the financial service industry with a particular focus on the real estate sector. He currently serves on the board of Haventree Bank, an alternative retail mortgage lender operating through independent mortgage brokers across Canada. He previously served as chair of the board of the Hincks Dellcrest Treatment Centre and Big Brothers Big Sisters Toronto. Mr. Younger holds a bachelor of commerce degree from Trinity College, University of Toronto, and an MBA from Schulich School of Business, York University.

"Genesis welcomes Mr. Younger to our board of directors, and looks forward to his guidance and contribution as an independent director as Genesis grows. Mr. Younger has a wealth of knowledge about the residential real estate industry through his long career with CIBC, other banks and as a partner in the real estate advisory business of Ernst & Young," commented Stephen Griggs, chairman of the board.

About Genesis Land Development Corp.

Genesis Land is an integrated land developer and residential home builder operating in the Calgary metropolitan area (CMA), holding a portfolio of well-located, entitled and unentitled primarily residential lands and serviced lots in the CMA.

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