HOLDERS OF HOMBURG BOND SERIES 8, 9, 10 AND 11 APPROVE AMENDMENTS TO THE
TRUST INDENTURE BY DECISION IN WRITING

Shares issued:  Class A - 17,072,589    Class B - 3,125,138

HALIFAX, Dec. 3 /CNW/ - (TSX: HII.A & HII.B and NYSE Euronext Amsterdam: HII) - Richard Homburg, Chairman and Chief Executive Officer of Homburg Invest Inc. ("Homburg Invest" or the "Company") announced today that holders representing 77% of the Homburg Bonds series 8, 9, 10 and 11 have voted 88% in favour of proposed amendments to the trust indenture dated May 31, 2006.  For each series of Homburg Bonds, the required quorum (2/3 of the principal amount of all of the outstanding Bonds) has been fulfilled, enabling a decision in writing.

Background

The terms and conditions for the Homburg Bond series 8, 9, 10 and 11 are recorded in the trust indenture dated May 31, 2006 as supplemented from time to time. In order to comply with historic Canadian tax legislation, which allowed Homburg Invest Inc. to be exempted from withholding tax on the interest of the Bonds, there originally was a "lock-up" period of 5 years and 1 day before (amongst others) redemption was allowed. This legislation has been amended and this "lock-up" is no longer necessary; therefore holders of the Bonds of Homburg Invest Inc. were asked to consent to / vote for certain proposed amendments to the Bonds. The amendments include:

(a) The Corporation having the option at any time to redeem for cash before maturity all of the outstanding Bonds or from time to time to redeem before maturity any of the outstanding at 100% of the principal amount thereof, together in all cases with interest on such principal amount of the Bonds to be redeemed accrued to the date specified for redemption; (b) The Corporation having the option at any time prior to maturity purchase the Bonds in the open market or by tender or by private contract at a price not exceeding 100% of the principal amount thereof plus accrued and unpaid interest to the date of purchase and reasonable costs of purchase; and (c) The Corporation having the option at any time and from time to time to offer Bondholders the opportunity to exchange some or all of the outstanding Bonds held by them for an equal principal amount, or such other principal amount as the Corporation may decide for the Homburg Capital Securities A or any other securities, as the Corporation may decide.

In the last four weeks a total of 15.882 votes have been collected and processed (a response of 77%). 88% of these votes are in favour of the proposed amendments to the trust indenture, dated May 31, 2006. For each series the required quorum (2/3 of the principal amount of all of the outstanding Bonds) has been fulfilled, enabling a decision in writing.

"We would like to thank all holders of the Homburg Bonds for approval of this proposal," said Richard Homburg, Chairman and Chief Executive Officer.

About Homburg Invest

Homburg Invest Inc. owns and develops a diversified portfolio of quality commercial real estate including office, retail, industrial and development properties throughout Europe and the United States, as well as 33.7% of the units of Homburg Canada Real Estate Investment Trust. The head office of the Company is located in Halifax, Nova Scotia.

Forward-looking Statements

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, which 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. 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 the information contained herein.

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For further information:

Mr. Richard Homburg
Chairman and CEO
Homburg Invest Inc.
[phone]

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