TIMBERCREEK MORTGAGE INVESTMENT CORPORATION ANNOUNCES OCTOBER 2010 DIVIDEND
FOR PRIVATELY HELD CLASS B SHARES

Toronto Stock Exchange: TMC

TORONTO, Oct. 20 /CNW/ - Timbercreek Mortgage Investment Corporation (the "Fund") is pleased to announce that its board of directors (the "Board") has declared a monthly dividend of $0.075 per class B share of the Fund ("Class B Shares") to be paid on November 15, 2010 to holders of Class B Shares of record on October 29, 2010.  As of October 20, 2010 there were 3,400,291 Class B Shares outstanding.

About the Fund

The Fund provides investors with an opportunity to receive attractive yields by investing indirectly, through holding shares of the Fund, in mortgage loan investments selected and determined to be high quality by its manager, Timbercreek Asset Management Inc.  The investment objective of the Fund is, with a primary focus on capital preservation, to acquire and maintain a diversified portfolio of mortgage loan investments that generates attractive, stable returns in order to permit the Fund to pay monthly distributions to its shareholders. 

%SEDAR: 00026881E

For further information:

Timbercreek Asset Management Inc.
Sanjay Junnarkar
Investor Relations
416.306.9967 x266
[email protected]