Altus Group Income Fund

Altus Group Income Fund

December 10, 2007 11:26 ET

Altus Group Announces Intent to Acquire Certain Assets of an Ontario-Based Valuation and Consulting Company

TORONTO, ONTARIO--(Marketwire - Dec. 10, 2007) - Altus Group Income Fund ("Altus") (TSX:AIF.UN) has informally agreed to acquire the key business assets of Ontario-based HealthTrust Canada ULC, ("HealthTrust"). The acquisition is expected to be funded through a combination of cash, bank financing and limited partnership units. At this time, the transaction is subject to the satisfactory completion of due diligence and the execution of definitive agreements and there can be no assurance the transaction will be completed.

Acquisition Highlights

HealthTrust is a valuation and consulting company that has developed a reputation as experts in the seniors housing field. It also assists clients with site selection, product offering, expansion, exit strategies and property re-positioning. To meet the needs of a growing industry, HealthTrust engineered an innovative, proprietary tool to analyze demographics, key trends, and net demand for seniors' markets across Canada. Currently, HealthTrust employs 8 staff, which includes 2 professionals AACIs, 4 Candidate Appraisers, 1 Feasibility Analyst and 1 administrative support.

"We are excited about the added expertise that HealthTrust brings to Altus," said Gary Yeoman, Chief Executive Officer of Altus Group. "Altus Group continues to expand its capabilities to strategically meet the growing demands of our current and future client base."

About Altus

Altus Group Income Fund is the leading multidisciplinary provider of independent real estate consulting and professional advisory services worldwide. With a staff of over 1,100, Altus has a Canadian national network of 30 offices in 23 cities throughout Canada and 6 offices throughout the UK. Altus operates: Altus Group Research, Valuation and Advisory; Altus InSite; Altus Helyar Cost Consulting; Altus Derbyshire Realty Tax Consulting; Altus Geomatics; Altus Clayton; and Altus Edwin Hill Altus UK LLP. Altus' clients include banks, financial institutions, governments, pension funds, asset and fund managers, developers and landlords, as well as companies engaged 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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