Halifax, Nova  Scotia,  October 15,  2008  (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 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
10,510,000 Class  A Subordinate  Voting  Shares ("Class  A  Shares"),
representing 10% of  the public float  for the Class  A Shares as  at
today's date and (ii) up to 1,575,000 Class B Multiple Voting  Shares
("Class B Shares"),  representing 5%  of the  issued and  outstanding
Class B Shares as at today's date.

As of September 30, 2008, there  were 155,579,016 Class A Shares  and
31,514,782  Class  B  Shares  issued  and  outstanding.  A  total  of
105,104,130 Class A Shares and 6,401,024  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 190,153 for the Class A Shares and 3,474 for  the
Class B Shares.  Accordingly, under the Exchange Rules and  Policies,
Homburg Invest is entitled  to purchase up to  47,538 Class A  Shares
and 868 Class B Shares on any trading day.

The normal course issuer bid will begin on October 17, 2008 and  will
terminate on October 16, 2009 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. All  shares purchased by  Homburg
Invest will be cancelled.

Homburg Invest has had several independent appraisals and  valuations
prepared in  connection with  its acquisition  of certain  commercial
properties in the Netherlands in 2006 and the acquisition of  office,
retail, industrial and residential properties in Montreal and Ottawa,
Canada, including a  large commercial complex  in greater  Montreal.
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.  The valuation
prepared in connection with the  Montreal property is also  available
on SEDAR at www.sedar.com.

Homburg Invest, with its  head office in  Halifax, Nova Scotia,  owns
and develops a diversified portfolio of quality real estate including
office, retail, industrial  and residential  apartment and  townhouse
properties throughout Canada, the United States and Europe.


For further information, please contact:

Mr. Richard Homburg,
Chairman and CEO
Homburg Invest Inc.
902-468-3395

or

J. Richard Stolle
President and COO
Homburg Invest Inc.
31-20-573-3855

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.


This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.
http://hugin.info/138798/R/1260135/275698.pdf


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