Abode Mortgage Corporation

Abode Mortgage Corporation

January 14, 2008 14:50 ET

Abode Mortgage Holdings Corp. Updates the Terms of the Non-Brokered Private Placement of Convertible Unsecured Notes

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 14, 2008) - Abode Mortgage Holdings Corp. (TSX VENTURE:ABD) is pleased to announce the updated terms of a non-brokered private placement of convertible unsecured notes.

Abode will issue up to $3,500,000 two-year interest-bearing convertible notes, which will bear interest at a rate of 10% per annum. The notes will be convertible into common shares of Abode at the election of the holder, at a price of $0.15 per share. After the first year, the notes will be subject to acceleration in the event the closing trading price of the common shares of Abode on the TSX Venture Exchange is $0.40 per share or higher over a period of 20 consecutive trading days.

Proceeds from the financing will be used to fund Abode's working capital requirements, to repay the current outstanding debenture issue which matures February 4th 2008, and for general corporate purposes.

Abode has agreed to pay a cash finder's fee equal to 5% of the gross proceeds realized from subscriptions brought in by certain finders.

Closing is expected to be complete on or before January 31st, 2008.

The private placement is subject to regulatory approval.

On Behalf of the Board of Directors,

David G. Nelson, Chairman

About Abode Mortgage Holdings Corp.

Abode Mortgage Holdings Corp. is a public company trading on the TSX Venture Exchange under the symbol ABD, and through its wholly owned subsidiary, Abode Mortgage Corporation, provides mortgage services to the increasing number of Canadians who are unable to find mortgage financing through traditional sources.

Headquartered in Vancouver, Abode Mortgage Corporation is delivering a new standard of service excellence to the Canadian non-conforming residential mortgage industry by providing simplified products, consistent underwriting decisions, uniformed pricing and competitive compensation programs. The Company launched its lending operations in February, 2007.

Information about Abode Mortgage Corporation is available on the Internet at:

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release, and has in no way passed upon the merits of the proposed transaction.

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