Altus Group Income Fund

Altus Group Income Fund

January 24, 2007 10:33 ET

Altus Group Announces Intent to Acquire Certain Assets of an Alberta-based Land Use Management and Environmental Services Business

TORONTO, ONTARIO--(CCNMatthews - Jan. 24, 2007) - Altus Group Income Fund ("Altus")(TSX:AIF.UN) announced today that it has informally agreed to acquire certain assets of Alberta-based Ezra Consulting Ltd, ("EZRA"). At this time, the transaction is subject to completion of due diligence and the execution of definitive documents and there can be no assurances the transaction will be completed. The acquisition is expected to be funded through cash, bank financing and limited partnership units.

Acquisition Highlights

Ezra, an Alberta-based company providing environmental services and efficient solutions to the Forestry and Energy sectors, was founded by Paul Folkmann in 1995 and currently employs 20 professionals. Focusing on the Natural Resources field, Ezra is a leading provider of land use management, mapping and field services by providing superior consulting services and innovative solutions.

"This transaction with Ezra represents a strategic acquisition for Altus," said Gary Yeoman, Chief Executive Officer of Altus Group. "Environmental assessment and related services are only going to become more significant in the years to come. By adding the expertise and capacity of Ezra now, Altus will enjoy synergistic benefits and will simultaneously reinforce the strength of its core real estate consulting and professional advisory services for the future."

About Altus

Altus Group Income Fund is the leading independent multidisciplinary provider of real estate consulting and advisory services in Canada, with a staff of over 740 professionals. Altus has a national network of offices in 24 cities and operates as: Altus Helyar Research, Valuation and Advisory; Altus InSite; Altus Helyar Cost Consulting; and Altus Derbyshire Realty Tax Consulting and Altus All West Surveys. Altus' clients include banks, financial institutions, governments, pension funds, asset and fund managers, developers and landlords and participants in the oil and gas industry.

Certain statements in this news release may constitute "forward-looking" statements, which involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Altus and its subsidiary entities, including Altus Group Limited Partnership and Altus Group Limited, or the industry, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used, such statements use words such as "may", "will", "expect", "believe", "plan" and other similar terminology. These statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including those described in Altus' publicly filed documents (which are available on SEDAR at

Those risks and uncertainties include: the ability to maintain profitability and manage growth; reliance on and retention of professionals; competition; performance obligations and client satisfaction; fixed price and contingency engagements; collectibility of accounts receivable; general state of the economy; possible acquisitions; possible future litigation; interest rate fluctuations; insurance limits; legislative and regulatory changes; revenue and cash flow volatility; operating risks; residential market risk; protection of intellectual property; appraisal mandates; restrictions on growth. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this news release. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Altus cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and, except in accordance with applicable law, Altus assumes no obligations to update or revise them to reflect new events or circumstances. Additionally, Altus undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Altus, its financial or operating results, or its securities.

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