Homburg Invest Inc. announces disposal of interest in DIM Vastgoed N.V. in exchange for common stock in Equity One Inc.

    Shares issued: Class A - 16,790,021 Class B - 3,150,248

    HALIFAX, Jan. 12 /CNW/ - (TSX: HII.A & HII.B and NYSE Euronext Amsterdam:
HII) - Mr. Richard Homburg, Chairman and CEO of Homburg Invest Inc. ("HII" or
"Homburg Invest") is pleased to announce that Homburg Invest has entered into
a so-called exchange agreement with Equity One Inc. ("Equity One").
Concurrently with the exchange agreement Equity One and Homburg Invest entered
into a so-called voting rights transfer agreement.
    Under the exchange agreement, Homburg Invest will dispose of
approximately 2 million ordinary shares of DIM Vastgoed N.V. ("DIM") to Equity
One in exchange for shares of common stock of Equity One ("Common Stock"). At
initial closing, Homburg Invest will acquire 866,373 shares of Common Stock in
exchange for a total of 1,151,276 DIM shares and 86,400 rights to DIM Shares,
expected to occur no later than January 14, 2009. In addition, under the
voting rights transfer agreement, Homburg Invest has granted an irrevocable
proxy to Equity One with respect to another 766,573 DIM shares that Homburg
has the right to acquire on October 1, 2010. The exchange agreement also
provides, subject to certain conditions, that Equity One will acquire these
DIM shares from Homburg once Homburg has obtained the DIM shares at the same
exchange ratio, being an aggregate of 536,601 shares of Common Stock.


    Homburg, with its head office in Halifax, Nova Scotia, is an
international real estate investment and development company that owns a
diversified portfolio of quality real estate, including office, retail,
industrial and residential apartment and townhouse properties in Canada,
Europe and the United States. The Company also owns land assets for
development in Calgary and Edmonton, Alberta; Montreal, Quebec; and
Charlottetown, Prince Edward Island. In 2007, Homburg completed significant
acquisitions totalling over approximately CAD$ 1.1 billion and as of December
31, 2007 has assets of over CAD$ 3.8 billion with an approximate aggregate of
18.2 million square feet of gross leasable area.

    This news release may contain statements which by their nature are
forward looking and express the Company's beliefs, expectations or intentions
regarding future performance, future events or trends. Forward looking
statements are made by the Company in good faith, given management's
expectations or intentions however, they are subject to market conditions,
acquisitions, occupancy rates, capital requirements, sources of funds, expense
levels, operating performance and other matters. Therefore, forward looking
statements contain assumptions which are subject to various factors including:
unknown risks and uncertainties: general economic conditions; local market
factors; performance of other third parties; environmental concerns; and
interest rates, any of which may cause actual results to differ from the
Company's good faith beliefs, expectations or intentions which have been
expressed in or may be implied from this news release. Therefore, forward
looking statements are not guarantees of future performance and are subject to
known and unknown risks. 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. The Toronto Stock Exchange has
neither approved nor disapproved of the information contained herein.
    %SEDAR: 00013330E

For further information:

For further information: Mr. Richard Homburg, Chairman and CEO, Homburg
Invest Inc., (902) 468-3395; Richard Stolle, President and COO, Homburg Invest
Inc., 011 31 20 573 3855

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Homburg Invest Inc.

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