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Market Update Provided by Green Machine Development Corporation Board to Shareholders

Key Events in 2007

The following communication is provided by the Board of Green Machine Development Corporation (GMDC) to shareholders:

The past 12 month period has been a year of solid progress for the company.

Takeover Rumors

A number of shareholders have contacted the company concerning rumors of a takeover. We have replied to those queries and restated in this announcement that the company is continuously in discussions with diverse parties concerning operations in the normal course of business of the company. Additionally, we keep in contact with other like minded "western" miners who operate in the vicinity and in the same country.

It is the board's objective to seek a joint venture or similar relationship with a major miner and to list the company's securities on a London and/or European stock market. Your board is pursuing this objective with vigor. As at this date, we are not in any merger, takeover or JV discussions. Should this situation change, the company will make timely announcements on the public medium and on its Web site.

Key Events in 2007

. On 19th February, 2007, new management took over the company.
. Dr. Malcolm Mudge, a geologist, was appointed CEO; Philip Condon, a mechanical engineer, and Peter Kent, an accountant, were appointed to the board.
. Through a stock-for-stock reverse merger, the company acquired Ellwood Overseas Holdings SA, a Panamanian Corporation.
. Ellwood, through its subsidiaries in the Democratic Republic of Congo (DRC), holds an 80 percent interest in five copper cobalt concessions in the DRC.
. By virtue of the reverse merger, Ellwood became a wholly-owned subsidiary of the company. Prior to the acquisition of Ellwood, the company had no operations for a number of years and had no meaningful assets or liabilities.
. As a result of the merger, GMDC now has approximately 125,781,674 shares of common stock outstanding.
. In February, 2007, CEO Dr. Mudge visited Lubumbashi in the DRC to commence field work. Lubumbashi is the copper centre of the DRC.
. In March, 2007, the company opened an operational field office in Lubumbashi.
. CEO Dr. Mudge visited London and Frankfurt to investigate statutory requirements and investor interest as a precursor to the company seeking a listing on a European and London stock exchange.
. In April, 2007, the company acquired initial exploration plant and equipment including motor vehicles.
. In May, 2007, CEO Dr. Mudge continued reconnaissance work on concessions and developed mining and exploration plan.
. The company's artisanal copper project was halted by changes in local government regulations banning the export of raw copper ore.
. In August, 2007, Philip Condon resigned from the board due to full-time mining commitments in the Middle East.
. In September, 2007, the Company appointed Donald Nelson, a London financier and former broker, to the board. Mr. Nelson has extensive experience with the London and European markets, having acted as banker and broker over many years.
. In November, 2007, the company appointed as auditors Meyler and Company LLP CPAs, 1 Arin Park, 1715 Middletown, NJ 07748, USA Tel: +1 732 671 0344
. In December, 2007, the company appointed as attorneys Schneider Weinberger & Beilly LLP , 2200 Corporate Blvd, NW Boca Raton FL 33431, USA Tel: +1 561 362 9595

Outlook for 2008

. The board is now aware that prior to its takeover, the company's SEC returns had not been filed for a number of periods. This is now being addressed. We expect that all SEC filings will be brought up to date by end of January 2008.
. The Board has a number of new projects before it which it will advise the market of once negotiations crystallize.
. Upon completion of the company's audit, it is the board's intention to seek a listing on the OTC Bulletin Board.
. In March, 2008, the board intends to seek a listing on a continental European stock exchange.
. In May, 2008, the board intends to seek a listing on a U.K. stock exchange.
. It is projected that the company will be in full scale exploration on its DRC assets by late 2008.

Send us your e-mail address

We invite you to register your email address with our secretariat at info@greenmachinecorp.com to afford us the opportunity to communicate with you more cost effectively and efficiently. Place in the subject, "Shareholder." Upon receipt we will log you on our register of interested parties for updates and news items.

By order of the Board
Green Machine Development Corporation

This news release contains forward-looking statements regarding ongoing and upcoming exploration work and expected geology. Actual results may differ materially from those anticipated in these statements.
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   Mr. Peter Kent
   Vice President
   Green Machine Development Corporation
   Coffs Harbour,    NSW,    2450
   Australia
   +61266512233 (phone)
   +61266511427 (fax)
   info@greenmachinecorp.com
   www.greenmachinecorp.com