Home Capital Group Inc. announces normal course issuer bid

    TORONTO, July 29 /CNW/ - Home Capital Group Inc. (TSX: HCG) announces
today that it has filed with the Toronto Stock Exchange a Notice of Intention
to make a Normal Course Issuer Bid, pursuant to which Home Capital may
purchase for cancellation up to 2,732,534 of its Common Shares, representing
approximately 10.0% of its 27,325,349 public float of issued and outstanding
Common Shares. As of July 28, 2008, there are 34,534,990 Common Shares
outstanding. The average daily trading volume from January 1, 2008 to June 30,
2008 was 98,321 shares, 25% being 24,580 shares. The purchases may commence on
August 1, 2008, and will terminate on July 31, 2009, or on such earlier date
as Home Capital may complete its purchases pursuant to the Notice of
Intention. The purchases will be made by Home Capital in accordance with the
rules of the exchange and the prices that Home Capital will pay for any Common
Shares will be the market price of such shares at the time of acquisition.
Home Capital will make no purchases of Common Shares other than open-market
    Pursuant to its Normal Course Issuer Bid for Common Shares commencing
August 1, 2007, which expires July 31, 2008, Home Capital purchased 84,400
shares at an average price of $35.527 per share.
    Home Capital believes that, from time to time, the market price of its
Common Shares does not fully reflect the value of its business and its future
business prospects. As a result, Home Capital believes that its outstanding
Common Shares may represent an appropriate and desirable use of its available

    Home Capital Group Inc. is a public company, traded on the Toronto Stock
Exchange (HCG), operating through its principal subsidiary, Home Trust
Company. Home Trust is a federally regulated trust company offering deposit,
mortgage lending, retail credit and payment card services. Licensed to conduct
business across Canada, Home Trust has offices in Ontario, Alberta, British
Columbia, Nova Scotia and Quebec.

For further information:

For further information: Gerald M. Soloway, CEO, or Nick Kyprianou,
President, (416) 360-4663, www.homecapital.com

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