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


Halifax, Nova Scotia, November 6, 2008  (TSX: HII.A & HII.B and  NYSE
Euronext Amsterdam:  HII)  - Richard  Homburg,  Chairman and  CEO  of
Homburg Invest Inc. ("Homburg Invest" or "the Company") is pleased to
announce Homburg Invest has released the September 30, 2008 financial
results prepared under  both Canadian  Generally Accepted  Accounting
Principles (GAAP)  and  International Financial  Reporting  Standards
(IFRS).  The complete September 30,  2008 financial results and  MD&A
will be available for viewing and downloading from the  corporation's
web site at www.homburginvest.com and at SEDAR at www.sedar.com.

The Company  is pleased  to announce  a substantial  increase in  the
results both under IFRS and Canadian  GAAP for the nine months  ended
September 30, 2008.

Increase in IFRS results:
* Property revenue increased 51.8% to $228.6 million compared to
  September 30, 2007
* Property net operating income (note) increased 38.9% to $168.0
  million compared to September 30, 2007
* Funds from operations per share (note) increased 58.3% to $0.38
  compared to September 30, 2007
* Funds from operations (note) increased 105.4% to $74.8 million
  compared to September 30, 2007

Increase in Canadian GAAP results:
* Property revenue increased 53.3% to $227.0 million compared to
  September 30, 2007
* Property net operating income (note) increased 39.0% to $166.4
  million compared to September 30, 2007
* Funds from operations per share (note) increased 68.0% to $0.42
  compared to September 30, 2007
* Funds from operations (note) increased 118.8% to $82.4 million
  compared to September 30, 2007

Current market  conditions  validate  the  Company's  diversification
strategy.  Year  to  date,  the  mark to  market  adjustment  of  our
Investment Property portfolio  has been  a decrease  of 0.85%,  based
upon our IFRS Financial Statements.

The Company is currently  one of the  only Canadian public  companies
releasing information with respect to the current market value of its
real estate.

Operationally, the occupancy levels remain strong with an overall
weighted average occupancy rate of 96.3% compared to 97.3% at
December 31, 2007.

"Same Property" (properties owned  throughout the entire  comparative
reporting periods) N0I  increased by  4.0% in the  third quarter  and
1.9% year to date compared to the same period in 2007.

The Company prepares it's quarterly and annual statements under  both
GAAP and  IFRS.   This  reflects  the  Board's  view  that  the  IFRS
presentation most  accurately reflects  the financial  position of  a
real estate investment company,  while at the  same time the  Company
continues to comply  with requirements to  produce its results  under
GAAP.  This  also  reflects  the  Company's  desire  to  provide  its
shareholders  with  as  much  information  as  possible  in   today's
environment  of  continuing  concerns   with  respect  to   financial
disclosure in the market place.

The most significant differences between IFRS and GAAP statements are
that while the IFRS statements  reflect the investment properties  at
fair value and are without depreciation charges, the GAAP  statements
record  the  fixed  assets   at  historical  cost  less   accumulated
depreciation.  In addition, deferred charges relating to leasing fees
have been recorded as an asset  in the GAAP financial statements  and
will be charged  to expense over  the period of  the related  lease.
These charges are written off in the period incurred under IFRS.

Financial Highlights - IFRS
Third Quarter ended September  30,
2008
(000's)                             Nine Months  Nine Months
                                          Ended        Ended
                                   September 30 September 30
                                           2008         2007 Increase
Property revenue                       $228,572     $150,582    51.8%
Property net operating income          $167,969     $120,950    38.9%
Funds from operations                   $74,846      $36,444   105.4%
Funds from operations per share  -  $0.38/$0.37  $0.24/$0.23    58.3%
basic and diluted



Financial Highlights - IFRS
Third Quarter ended September  30,
2008
(000's)                            Three Months Three Months
                                          Ended        Ended
                                   September 30 September 30
                                           2008         2007 Increase
Property revenue                        $76,469      $55,621    37.5%
Property net operating income           $55,757      $42,154    32.3%
Funds from operations                   $18,762      $12,777    46.8%
Funds from operations per share  -  $0.09/$0.09  $0.07/$0.07    28.6%
basic and diluted


Property revenue for  the third  quarter is  up 37.5%  over the  same
quarter in 2007  to $76.5 million.    At the same  time property  net
operating income (NOI) increased to $55.8 million from $42.2 million,
an increase of 32.3%.

The positive aspects  of the  growth in our  portfolio also  manifest
themselves in our  funds from  operations ("FFO")  which improved  to
$74.8 million for the nine months ended September 30, 2008, up 105.4%
from the $36.4 million to September 30, 2007. On an annualized  basis
this is a FFO of $0.51 per share, which is a FFO payout ratio  (note)
of 86.3%.
Shareholders' equity increased from $886.3 million at December 31,
2007 to $887.5 million at September 30, 2008.

Net asset value per share (note) at September 30, 2008 under IFRS is
$4.44.
The current global capital and  real estate markets are  experiencing
significant and  dramatic  change. As  a  result, there  has  been  a
tightening of access to capital for  new debt as well as  refinancing
existing debt as  it matures. We  believe we are  well positioned  to
withstand this credit crisis as only  $87.6 million, or 3.3%, of  our
total long term debt is maturing over  the next 15 months to the  end
of 2009; and this maturing debt has a weighted average interest  rate
of 6.55%. We  have already  secured refinancing on  $42.1 million  of
that maturing amount at an effective interest rate of 5.4%.

The Company has been very successful in the past in raising non-asset
backed debt  financing  and mortgage  bond  financing on  the  global
market to the  extent of $700  million. The Company  can continue  to
look to these unique financing markets for additional funds.

With the tightening of the capital  markets, the Company feels it  is
prudent to raise cash from  various sources and is exploring  various
alternatives such  as partnering  of deals,  selling (a  portion)  of
specific projects,  delaying start  of development  projects and  the
potential issue of new equity bonds.

Our objective is to further strengthen the balance sheet.


Financial Highlights - GAAP
Third Quarter ended September  30,
2008
(000's)                             Nine Months  Nine Months
                                          Ended        Ended
                                   September 30 September 30
                                           2008         2007 Increase
Property revenue                       $226,981     $148,093    53.3%
Property net operating income          $166,378     $119,691    39.0%
Funds from operations                   $82,427      $37,674   118.8%
Funds from operations per share  -  $0.42/$0.41  $0.25/$0.24    68.0%
basic and diluted



Financial Highlights - GAAP
Third Quarter ended September  30,
2008
(000's)                            Three Months Three Months
                                          Ended        Ended
                                   September 30 September 30
                                           2008         2007 Increase
Property revenue                        $75,740      $53,132    42.6%
Property net operating income           $55,028      $40,895    34.6%
Funds from operations                   $20,260      $11,638    74.1%
Funds from operations per share  -  $0.10/$0.10  $0.06/$0.06    66.7%
basic and diluted


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 Western Europe.
                                -30-
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.

Note

Non GAAP and Non IFRS Financial Measures

This news release includes measures widely accepted within the real
estate industry which are not defined under CDN GAAP or IFRS.  These
measures include Funds from Operations, Funds from Operations per
share, Property Net Operating Income, Net Asset Value per share, and
Payout Ratio.  As these are not defined measures under CDN GAAP or
IFRS, other issuers' may have different calculations from those used
by the Company.

The Company considers these amounts to be measures of operating and
financial performance.

a) Funds from Operations ("FFO") and FFO per share are presented by
the Company as net income (loss) from continuing operations adjusted
for amortization, stock based compensation, deferred and capital
income taxes, unrealized and realized valuation changes, and
unrealized foreign exchange gains; divided by the weighted average
number of shares outstanding
b) FFO payout ratio is presented by the Company as dividends per
share divided by funds from operations per share
c) Property Net operating income ("N0I") is presented by the Company
as Property Revenue less Property Operating Expenses
d) Net Asset Value per share is presented by the Company as
Shareholders' Equity divided by the number of shares outstanding at
period end.


This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.
http://hugin.info/138798/R/1267437/279672.pdf


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