Homburg Invest Inc. announces acquisition of assets in Fort McMurray, Alberta

    Shares issued:  Class A - 88,415,560 Class B - 31,514,782

    HALIFAX, Feb. 1 /CNW/ - (TSX: HII.A & HII.B and AEX:HII ) - Homburg
Invest Inc. ("Homburg Invest" or the "Company") announced that the Company has
entered into an agreement to purchase 62 residential rental units in Fort
McMurray, Alberta. Total consideration for the acquisition will be $25,000,000
and will be paid by mortgage financing $14,255,000 and the issue of Class A
Subordinate Voting Shares of Homburg Invest (subject to Toronto Stock Exchange
approval) for $10,745,000. The Class A Subordinate Voting Shares will be
issued at $6.70 per share and will result in the issue of 1,603,731 shares to
the vendor.The acquisition includes newly constructed and fully furnished residential
units as follows:

                       9 - Two bedroom townhouses

                       53 - Two bedroom condominiums

                       99 - Parking stalls - 37 surface
                                           - 62 underground


    Located 435 km northeast of Edmonton, Alberta, Fort McMurray has a
population of approximately 60,000 and is growing rapidly. It is the major
commercial, cultural and recreational centre for the Canadian oil sands
projects, which are one of the largest known oil reserves in the world.

    Homburg Invest Inc., with its head office in Halifax, Nova Scotia, owns
and develops a diversified portfolio of quality real estate including office,
retail, industrial and residential apartment and townhouse properties
throughout Canada, the United States and Western Europe.

    Information and statements in this document, other than historical
information, should be considered forward-looking and reflect management's
current views of future events and financial performance that involve a number
of risks and uncertainties. Factors that could cause actual results to differ
materially include, but are not limited to, the following: general economic
conditions and developments within the real estate industry, competition and
the management of growth.

    Toronto Stock Exchange has neither approved nor disapproved of the
    information contained herein.%SEDAR: 00013330E

For further information: For further information on this matter, please
contact: Mr. Richard Homburg, Chairman and CEO, [phone]; Mr. Michael
Arnold, CA, Vice Chairman, [phone]. For information on Homburg Invest
Inc., visit our website at www.homburginvest.com