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Press release from CNW Group

Genesis Retains Former CEO for a Consulting Arrangement

Wednesday, November 30, 2011

Genesis Retains Former CEO for a Consulting Arrangement21:27 EST Wednesday, November 30, 2011TSE Stock Symbol:  GDCCALGARY, Nov. 30, 2011 /CNW/ - Genesis Land Development Corp. ("Genesis" or the "Corporation") announces that it has entered into an Advisory Services Agreement ("the agreement") with former Chief Executive Officer, Gobi Singh. Mr. Singh will report to the Interim CEO and will provide support and advisory services on an as-needed basis during the strategic alternatives evaluation process. The terms and scope of the agreement, which extends to March 31, 2012, have been reviewed by the Toronto Stock Exchange ("TSX"). Genesis Land Development Corp. is a Calgary based land development company with an inventory of over 7,200 acres with a potential for 17,500 residential units and a 535-acre commercial and industrial land reserve.  The vast majority of this inventory is within the Calgary metropolitan area.Cautionary Statement Regarding Forward-Looking Information This press release contains certain statements which constitute forward-looking statements or information ("forward-looking statements") within the meaning of applicable securities legislation concerning the business, operations and financial performance and condition of Genesis.  Forward-looking statements include, but are not limited to, statements with respect to the number of dwelling sites that Genesis will actually develop and sell.  Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".  Although Genesis believes that the anticipated future results, performance or achievements expressed or implied by the forward-looking statements are based upon reasonable assumptions and expectations, the reader should not place undue reliance on forward-looking statements because they involve assumptions, known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Genesis to differ materially from anticipated future results, performance or achievement expressed or implied by such forward-looking statements.  Accordingly, Genesis cannot give any assurance that its expectations will in fact occur and cautions that actual results may differ materially from those in the forward-looking statements.  Factors that could cause actual results to differ materially from those set forth in the forward-looking statements include, but are not limited to, general economic conditions; local real estate conditions, including the development of properties in close proximity to Genesis' properties; timely leasing of newly-developed properties and re-leasing of occupied square footage upon expiration; dependence on tenants' financial condition; the uncertainties of real estate development and acquisition activity; the ability to effectively integrate acquisitions; interest rates; availability of equity and debt financing; the impact of newly-adopted accounting principles on Genesis' accounting policies and on period-to-period comparisons of financial results; economic conditions in Western Canada, not realizing on the anticipated benefits from the transaction or not realizing on such anticipated benefits within the expected time frame and other risks and factors described from time to time in the documents filed by Genesis with the securities regulators in Canada available at www.sedar.com., including the Annual Information Form under the heading "Risk Factors" and in Genesis' most recent interim report under the heading "Management's Discussion and Analysis."  Furthermore, the forward-looking statements contained in this press release are made as of the date of this press release and, except as required by applicable law, Genesis does not undertake any obligation to publicly update or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise.For further information: Jeff Blair, Interim C.E.O., Genesis Land Development Corp.Simon Fletcher, C.F.O, Genesis Land Development Corp.Tel: (403) 265-8079, Toll Free: 1-800-341-7211, Fax: (403) 266-0746E-Mail: genesis@genesisland.com  Internet: www.genesisland.com