Mr. Gobi Singh Responds to Press Release of Genesis Land Development Corp.

    CALGARY, April 24 /CNW/ - Mr. Gobi Singh today released the following
statement in response to the press release issued earlier today on behalf of
Genesis Land Development Corp. ("Genesis") by a special committee of its board
of directors relating to Mr. Singh's termination as the President and Chief
Executive Officer of Genesis: "I have been fully cooperative with the efforts
of the special committee in connection with its review of issues relating to
the restatement of the company's financial statements in the third quarter of
last year; however I am unable to accept the proposals of the special
committee in this regard, which included only remaining in my position as CEO
for a limited 90 day period. I have always conducted myself with a view to
acting in the best interests of Genesis and feel the actions being taken by
the special committee to terminate my employment are completely unjustified
and without merit, and are not in the best interests of Genesis. I intend to
pursue all available legal remedies in response to the actions taken by the
special committee, both in my capacity as a director and significant
shareholder of Genesis, and personally."
    Mr. Singh remains a director of Genesis and a significant shareholder
having ownership and control or direction over approximately 24% of the
currently issued and outstanding common shares of Genesis.

For further information:

For further information: Mr. Gobi Singh, (403) 932-0516

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