Timbercreek Mortgage Investment Corporation Announces May 2009 dividend for privately held class B shares

    Toronto Stock Exchange: TMC

    TORONTO, May 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 $0.0780 per class B share of the Fund ("Class B
Shares") to be paid on June15, 2009 to holders of Class B Shares of record on
May 31, 2009. As of May 21, 2009 there were 1,622,279 Class B Shares

    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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