HALIFAX, Aug. 23 /CNW/ - (TSX: HII.A & HII.B and Euronext:Hll (the "Shares")) Richard Homburg, Chairman and CEO of Homburg Invest Inc. ("Homburg Invest") is pleased to announce that it has received regulatory approval to launch a normal course issuer bid. Homburg Invest believes that from time to time the market prices of its shares do not properly reflect the underlying value of Homburg Invest and that the purchase of its shares makes appropriate and desirable use of its available cash over the upcoming twelve months, Homburg Invest's board of directors believes that the offer is in the best interests of Homburg Invest and its shareholders.

Accordingly, Homburg Invest announces that the Toronto Stock Exchange (the "Exchange") has accepted Homburg Invest's notice to make a normal course issuer bid. According to the notice filed with the Exchange, Homburg Invest intends to purchase, for cancellation, in accordance with the Rules and Policies of the Exchange (i) up to 1,017,201 Consolidated Class A Subordinate Voting Shares ("Class A Shares"), representing 10% of the public float for the Class A Shares as at August 20, 2010 and (ii) up to 157,426 Consolidated Class B Multiple Voting Shares ("Class B Shares"), representing 5% of the issued and outstanding Class B Shares as at August 20, 2010.

As of August 20, 2010, there were 17,094,490 Class A Shares and 3,148,538 Class B Shares issued and outstanding. A total of 10,172,014 Class A Shares and 659,899 Class B Shares are held by shareholders' other than directors, senior officers and insiders of the Company (the "public float").

The average daily trading volume (the "ADTV") of Homburg Invest's Class A Shares and Class B Shares over the last six completed calendar months was 3,408 for the Class A Shares and 322 for the Class B Shares. Accordingly, under the Exchange Rules and Policies, Homburg Invest is entitled to purchase up to 1000 Class A Shares and 1000 Class B Shares on any trading day.

The normal course issuer bid will begin on August 25, 2010 and will terminate on August 24, 2011 or such earlier date as Homburg Invest may complete its permitted purchases pursuant to its notice of intention filed with the Exchange. All purchases will be made through the facilities of the Exchange only, at the discretion of Homburg Invest's management, as and when it will deem the market price of the Class A Shares or of the Class B Shares to be favourable to the reduction of its outstanding share capital. The purchase of and payment for the shares will be made by Homburg Invest in accordance with the Rules and Policies of the Exchange and the price Homburg Invest will pay for any shares will be the market price of such shares at the time of acquisition. Purchases of Class A Shares and Class B Shares will be effected through the facilities of the TSX and will be made by means of open market transactions or such other means as may be permitted by the TSX, including block purchases of Class A Shares or Class B Shares. All shares purchased by Homburg Invest will be cancelled.

Homburg Invest has had a number of independent appraisals and valuations prepared in connection with its properties in the Baltics, Germany, the Netherlands, and the United States. Copies of these appraisals and valuations are available for viewing during regular business hours at Homburg Invest's head office at Suite 600, 1741 Brunswick Street, Halifax, NS, B3J 3X8.

Homburg Invest Inc. owns and develops a diversified portfolio of quality commercial real estate including office, retail, industrial and development properties throughout Europe and the United States, as well as 41.3% of the units of Homburg Canada Real Estate Investment Trust. The head office of the Company is located in Halifax, Nova Scotia.

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.

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SOURCE Homburg Invest Inc.

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

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