News Release

Vancouver - In a settlement with the British Columbia Securities Commission, a West Vancouver man and his son have admitted to violating securities laws by illegally distributing securities and making misrepresentations to investors in raising money for a Bahamian-incorporated company.

Lionel Mervin Negus, 74, and his son, Christopher John Thompson, 43, are banned from the securities market and each agreed to pay monetary sanctions to the BCSC as part of the settlement. Negus must pay $75,000 and he is banned from trading securities, being a director or officer of any issuer, and from engaging in any investor relations activities for 15 years, except in limited circumstances. Thompson must pay $100,000 and he is similarly banned for 20 years.

The duo admitted that from their West Vancouver homes, they promoted the sale of securities of Syndicated Gold Depository S.A. (SGD), a company purported to be incorporated and located in the Bahamas. They did this through Parklane International Corp., an offshore company hired by SGD to sell the securities for which SGD paid Parklane about $1.8-million (U.S.) in fees.

From about September 2000 to March 2004, Negus, Thompson and Parklane distributed SGD securities to 64 investors who invested about $11.5-million (U.S.). Most of the investors were U.S. residents and only three were Canadian. Negus, Thompson and Parklane violated securities laws by distributing $1.66-million (U.S.) of the SGD securities without proper registration and without filing a prospectus.

In the settlement, Parklane and the two men admitted to violating securities laws by making misrepresentations in their promotional material and personal communication to investors and potential investors.

As part of the settlement, Parklane has been cease-traded and prohibited from engaging in any investor relations activities permanently.

In a related settlement, Kevin Wilson, of Vancouver, has admitted that he violated securities laws when he assisted Negus, Thompson and Parklane in trading securities without registration and distributing securities without filing a prospectus as required under securities laws. For his part, Wilson is banned from trading securities except in limited circumstances, being a director or officer of any issuer, and engaging in any investor relations activities, for 10 years.

The B.C. Securities Commission is the independent provincial government agency responsible for regulating trading in securities within the province. You may view the settlement on our website www.bcsc.bc.ca by typing in the search box, Parklane International Corp., or the names of the individuals above, or 2007 BCSECCOM 62 and 64. If you have questions, contact Andrew Poon, Media Relations, 604-899-6880.