ASC Staff Elect to Reciprocate Order Against Michael James Savage

    CALGARY, Jan. 16 /CNW/ - Alberta Securities Commission (ASC) staff have
withdrawn a Notice of Hearing alleging that Michael James Savage and Mortgage
1 Corporation engaged in illegal trades and distributions of Mortgage 1
Corporation securities, electing instead to pursue a December 30, 2008 ASC
Notice of Hearing seeking to reciprocate British Columbia Securities
Commission trading and director and officer bans ordered against Savage
earlier in 2008.
    It is anticipated that an ASC panel will consider the reciprocation in
Febraury 2009.

    The ASC is the regulatory agency responsible for administering the
province's securities laws. It is entrusted to foster a fair and efficient
capital market in Alberta and to protect investors. As a member of the
Canadian Securities Administrators, the ASC works to improve, coordinate and
harmonize the regulation of Canada's capital markets.

For further information:

For further information: For Media Inquiries: Mark Dickey, Senior
Communications Advisor, (403) 297-4481; For Investor Inquiries: ASC Public
Inquiries, Toll Free 1-877-355-4488

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