Homburg Group acquires Uni-Invest N.V.'s interest in Homburg Invest Inc.

Mr. Richard Homburg, Chairman, President and CEO of Homburg Invest Inc. is pleased to announce that the Homburg Group has reached agreement with the Merwede Group and Lehman Brothers Real Estate Partners to acquire Uni-Invest N.V.Â's 49.15% interest in Homburg Invest Inc.

The Merwede Group and Lehman Brothers Real Estate Partners are currently in the process of acquiring 100% of the shares of Uni-Invest N.V., a Netherlands public real estate investment fund listed on the Amsterdam exchange since 1924.

Immediately following the closing of the transaction, on or before October 15, 2002, the Homburg Group will acquire all of the common shares of Homburg Invest Inc. currently owned by Uni-Invest N.V. With this acquisition, the Homburg Group will own 63.85% of Homburg Invest Inc.

Homburg Invest Inc., with its head office in Halifax, Nova Scotia, owns a diverse portfolio of quality real estate including office, retail, warehouse and residential apartment, condominium and townhouse properties located in Nova Scotia, New Brunswick, Prince Edward Island, Alberta and British Columbia

(source: Homburg Invest Inc.)

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