Shares issued:  Class A - 168,412,323    Class B - 31,514,782

Halifax, Nova Scotia, November 27, 2008 (TSX: HII.A & HII.B and NYSE
Euronext Amsterdam: HII) - In the heart of the birthplace of Canada
Charlottetown, Prince Edward Island, Mr. Richard Homburg, Chairman
and CEO of Homburg Invest Inc. ("HII" or "Homburg Invest") is pleased
to announce that Homburg Invest has undertaken a three staged
re-development of the Confederation Court Mall which will
significantly improve services and commercial spaces of the historic
downtown of Charlottetown.

Phase 1 has already commenced construction and will be a new
eight-storey Class A commercial office building on Fitzroy Street and
when completed will be comprised of 50,000 square feet featuring all
the latest amenities.  The entire top floor has already been leased
to a financial brokerage company and the building continues to have
strong, on-going interest from additional prospective tenants.

The early stages of Phase 2 began last year with the re-development
of the food court in The Shops of Confederation Court Mall and with
the creation of the Urban Eatery, which offers quality fresh food in
a market-style atmosphere. The next component of Phase 2 will begin
in the coming weeks and will involve a major refurbishment of the
interior and exterior of the entire Confederation Court Complex.
This 400,000 square foot office and retail complex was built 30 years
ago and requires modernization and expansion to ensure it remains the
major anchor in the capital city of the province.   A highlight of
this phase of the re-development will be the restoration of the
façade of the historic Holman Building on Grafton Street,
re-furbishing its beautiful rich island stone.

Phase 3 of the development will be a 10-storey, 82-room boutique
hotel that will be located above The Shops of Confederation Court
Mall.  Construction for the hotel is scheduled to commence early in
2009. This will be the first new hotel development in Downtown
Charlottetown in over 25 years.  The top floor of the hotel will be a
single level, 2,200 square foot super luxury presidential suite with
a large wrap around terrace and 360 degree views of the city.

All three phases are scheduled to be completed in the next 24 to 30
months.  The economic spin offs of this project are expected to
exceed $100,000,000 with 75,000 person days of employment.  Once
completed, the benefits will include 200 direct new jobs, 300
indirect jobs, and new opportunities for the tourism, convention and
cultural sectors.  It is anticipated that the new economic activity
and the confidence it will inspire in these difficult economic times,
will have an ongoing economic impact in the order of $30,000,000
annually for the Province of Prince Edward Island.

Homburg, with its head office in Halifax, Nova Scotia, is an
international real estate investment and development company that
owns a diversified portfolio of quality real estate, including
office, retail, industrial and residential apartment and townhouse
properties in Canada, Europe and the United States.  The Company also
owns land assets for development in Calgary and Edmonton, Alberta;
Montreal, Quebec; and Charlottetown, Prince Edward Island.  In 2007,
Homburg completed significant acquisitions totaling over
approximately CAD$ 1.1 billion and as of December 31, 2007 has assets
of over CAD$ 3.8 billion with an approximate aggregate of 18.2
million square feet of gross leasable area.

                                -30-

For further information, please contact:

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

or

Richard Stolle
President and COO
Homburg Invest Inc.
011 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/1273729/283026.pdf


Copyright © Hugin AS 2008. All rights reserved.