Realex Properties Corp. announces termination of acquisition to acquire Investus Real Estate Inc.



    CALGARY, Jan. 29 /CNW/ - Realex Properties Corp. ("Realex" or the
"Corporation") announced today that the acquisition agreement pursuant to
which Realex agreed to acquire all of the outstanding common shares of
Investus Real Estate Inc. ("Investus") (TSXV: IVT) by way of amalgamation of a
wholly-owned subsidiary of Realex and Investus as announced in the joint news
release of Realex and Investus, dated December 15, 2008, has been terminated,
pursuant to a vote of Investus shareholders at a special meeting held January
29, 2009.
    "Naturally, we are disappointed with the outcome of the Investus vote",
said Realex's President and Chief Executive Officer, Marc Sardachuk, who
added, "It is unfortunate that this transaction, which the Board of Investus
had determined was in the best interests of Investus and all its shareholders,
and to which we were committed, will not be completed."

    The TSX Venture Exchange has neither approved nor disapproved the
    contents of this news release. The TSX Venture Exchange does not accept
    responsibility for the adequacy or accuracy of this news release.

    This press release may contain forward looking statements and information
within the meaning of applicable securities legislation. Although Realex
Properties Corp. believes that the anticipated future results, performance or
achievements expressed or implied by the forward looking statements and
information are based upon reasonable assumptions and expectations, the reader
should not place undue reliance on forward looking statements and information
because they involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of Realex to
differ materially from anticipated future results, performance or achievement
expressed or implied by such forward looking statements and information.
Accordingly, Realex cannot give any assurance that its expectations will in
fact occur and cautions that actual results may differ materially from those
in the forward looking statements. Factors that could cause actual results to
differ materially from those set forth in the forward looking statements and
information include: general economic conditions; local real estate conditions
including the development of properties in close proximity to Realex's
properties; timely leasing of newly-developed properties and re-leasing of
occupied square footage upon expiration; dependence on tenants' financial
condition; the uncertainties of real estate development and acquisition
activity; the ability to effectively integrate acquisitions; interest rates;
availability of equity and debt financing; the impact of newly-adopted
accounting principles on Realex's accounting policies and on period-to-period
comparisons of financial results; and other risks and factors described from
time to time in the documents filed by Realex with the securities regulators
in Canada, including in the Annual Information Form under the heading
"Description of the Business - Risk Factors" and in Realex's annual
Management's Discussion and Analysis. Realex undertakes no obligation to
publicly update or revise any forward looking statements or information,
whether as a result of new information, future events or otherwise, except as
required by securities laws.

For further information:

For further information: Marc Sardachuk, President and Chief Executive
Officer, Realex Properties Corp., Telephone: (403) 264-5889, Facsimile: (403)
264-5892; Mark Suchan, Chief Financial Officer, Realex Properties Corp.,
Telephone: (403) 264-5889, Facsimile: (403) 264-5892

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