VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 4,

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 4, 2012) - Megastar Development Corporation ("Megastar", the "Company" or "MDV") (TSX VENTURE:MDV)(FRANKFURT:M5Q) wishes to announce that at its annual general meeting held on November 29, 2012 the shareholders re-elected Dusan Berka and Chris Staargaard as directors of the Company for the upcoming year. Two new directors, Paul A. Smith of Bristol, UK and Jonathan M. Rich of Montreal, Quebec were also elected at the AGM. All other resolutions submitted by management to the shareholders for consideration were approved as presented, including the approval, subject to acceptance by the TSX Venture Exchange, of the Company's Rolling 10% Stock Option Plan. Shareholders also approved the re-appointment of BDO Canada LLP, Chartered Accountants as auditor for the ensuing year and authorized the directors to fix their remuneration.