Timbercreek Mortgage Investment Corporation Announces August 2008 Dividend for TSX Listed Class A Shares

    Toronto Stock Exchange: TMC

    TORONTO, Aug. 21 /CNW/ - Timbercreek Mortgage Investment Corporation (the
"Fund") is pleased to announce that its board of directors (the "Board") has
declared a monthly dividend of $0.0762 per class A share of the Fund ("Class A
Shares") to be paid on September 15, 2008 to holders of Class A Shares of
record on August 31, 2008.
    The Board also announced today the appointment of Mr. Craig Geier to the
Board of the Fund, effective immediately. R. Blair Tamblyn executive director
of the Board and Chief Executive Officer of the Fund stated, "we are very
pleased to welcome Craig to the Board. Craig's extensive corporate finance and
capital market experience in both the public and private space will further
strengthen our Board and provide valuable insight to the Fund."

    About the Fund

    The Fund provides investors with an opportunity to receive attractive
yields by investing indirectly, through holding shares of the Fund, in
mortgage loan investments selected and determined to be high quality by its
manager, Timbercreek Asset Management Inc. The investment objective of the
Fund is, with a primary focus on capital preservation, to acquire and maintain
a diversified portfolio of mortgage loan investments that generates
attractive, stable returns in order to permit the Fund to pay monthly
distributions to its shareholders.

    %SEDAR: 00026881E

For further information:

For further information: Timbercreek Asset Management Inc., Carrie
Morris, Director, Investor Relations, (416) 306-9967 x250,

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Timbercreek Mortgage Investment Corporation

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