Update: Investor Warning - G.W. Trust and Transfer Services Limited and Morgan Dragon Development Corp.

For Immediate Release OSC Investor Alert

TORONTO - The OSC is alerting the public to additional concerns with respect to investors in Morgan Dragon Development.

The OSC issued an Investor Alert on January 30, 2012, which warned investors not to purchase securities from MD Development, John Cheong and Herman Tse.

The OSC is now warning investors against sending money to an entity called G.W. Trust and Transfer Services Limited (G.W. Trust), a company that appears to be running a fraudulent “advance fee” scheme in the form of a “Non-resident tax”. Representatives of G.W. Trust are contacting investors, offering to purchase MD Development shares held by investors if the investor makes an advance fee payment to G.W. Trust. Investors are in danger of being defrauded of the fees they send and never receiving payment for the securities that are purportedly being sold for them.

G.W. Trust has never been registered with the OSC in any capacity.

The January 30, 2012 Investor Alert is available on the OSC website at www.osc.ca. If you have any questions or information relating to this matter, please contact the OSC Contact Centre at 1-877-785-1555.



For Media Inquiries:

Carolyn Shaw-Rimmington
Manager, Public Affairs

Aly Vitunski
Senior Media Relations Specialist

Alison Ford
Media Relations Specialist

For Investor Inquiries:

OSC Contact Centre
1-877-785-1555 (Toll Free)