FirstService closes the sale of its security division to ADT Security



    Proceeds from divestiture combined with existing funds to drive growth

    TORONTO, July 2 /CNW/ - FirstService Corporation ("FirstService")
(NASDAQ:   FSRV; TSX: FSV and FSV.PR.U) announced today that it has closed the
sale of its integrated security division, FirstService Security, to ADT
Security ("ADT"), a unit of Tyco International (NYSE:   TYC), previously
announced on April 14, 2008.
    "The completion of this strategically important transaction by
FirstService now allows us to focus on executing our strategy of building our
company into a significant global provider of diversified real estate
services," said Jay Hennick, Founder and Chief Executive Officer of
FirstService. "Accelerating the growth of our three real estate services
platforms through a combination of internal growth and acquisitions is a
priority and we are in a stronger position than ever to achieve our goals and
create greater long-term value for the shareholders of FirstService during a
period of great opportunity."
    "We would like to thank our partners and employees of FirstService
Security for their tireless dedication and years of contribution and would
like to extend our best wishes to them, and ADT, as they take this business to
the next level," added Mr. Hennick.

    ABOUT FIRSTSERVICE CORPORATION

    FirstService is a global diversified leader in the rapidly growing real
estate services sector, providing services in the following three areas:
commercial real estate; residential property management; and property
improvement services. Industry-leading service platforms include: Colliers
International, the third largest global player in commercial real estate;
FirstManagement Partners, the largest manager of residential properties in
North America; and The Franchise Company, the largest provider of property
improvement services through franchise and contractor networks in North
America.
    FirstService is a diversified property services company with more than
US$1.6 billion in annualized revenues and more than 17,000 employees
worldwide. More information about FirstService is available at
www.firstservice.com.


    FORWARD-LOOKING STATEMENTS

    Certain statements included in this release contain words such as
"could", "expects", "expectations", "may", "anticipates", "believes",
"intends", "estimates" and "plans" (and similar expressions) and constitute
"forward-looking statements" within the meaning of applicable securities law.
These statements are based on FirstService's current expectations, estimates,
forecasts and projections about the operating environment, economies and
markets in which FirstService and its subsidiaries operate. Such
forward-looking statements involve known and unknown risks, uncertainties and
other factors which are difficult to predict and may cause the actual results,
performance or achievements of FirstService, or outcomes or results, to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such factors include,
among others, the following: general economic and business conditions which
will, among other things, impact demand for the FirstService's services,
service industry conditions and capacity and the cost of providing services;
the ability of FirstService to implement its business strategy, including
FirstService's ability to acquire suitable acquisition candidates on
acceptable terms and successfully integrate newly acquired businesses with its
existing businesses; changes in or the failure to comply with government
regulations (especially safety and environmental laws and regulations); and
other factors which are described in FirstService's filings with the U.S.
Securities and Exchange Commission and Canadian regulatory authorities. These
statements, although considered reasonable by FirstService at the date of this
press release, may prove to be inaccurate and consequently FirstService's
actual results could differ materially from its expectations as set out or
implied in this release. Unless otherwise required by applicable securities
laws, FirstService disclaims any intention or obligation to update or revise
any forward-looking statements.





For further information:

For further information: Jay S. Hennick, Founder & CEO; D. Scott
Patterson, President & COO; John B. Friedrichsen, Senior Vice President & CFO,
(416) 960-9500

Organization Profile

FIRSTSERVICE CORPORATION

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