Altus Group Income Fund
TSX : AIF.UN

Altus Group Income Fund

July 02, 2008 17:14 ET

Altus Group Closes $41.1 Million Private Placement

TORONTO, ONTARIO--(Marketwire - July 2, 2008) - Altus Group Income Fund ("Altus") (TSX:AIF.UN) announced today that it has closed the previously announced transaction with Signature Global Advisors, a unit of CI Investments, with respect to an investment in Altus on a private placement basis of 2,250,000 units priced at $18.25 per unit for gross proceeds of approximately $41.1 million.

About Altus Group

Altus Group is the leading multidisciplinary provider of independent real estate consulting and professional advisory services worldwide. With a staff of over 1,200, Altus has 31 offices in 23 cities throughout Canada and 8 offices throughout the UK. Altus operates as: Altus Group Research, Valuation and Advisory; Altus Group Cost Consulting; Altus Group Realty Tax Consulting; Altus InSite; Altus Geocom; Altus Geomatics; Altus Edwin Hill; and Altus Andrews. 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.

Forward - Looking Statements

Certain statements in this press 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 the Fund and its subsidiary entities, including Altus Group Limited Partnership, Altus Group Limited, Altus Geomatics Limited Partnership and Altus UK LLP, or the industry, to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. When used in this press release, 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 the Fund's publicly filed documents including the Annual Information Form, Form 51-102F2, dated March 31, 2008 (available on SEDAR at www.sedar.com).

Those risks and uncertainties include: general state of the economy; reliance on and retention of professionals; ability to maintain profitability and manage growth; competition in the industry; performance of obligations / maintenance of client satisfaction; fixed price and contingency engagements; revenue and cash flow volatility; protection of intellectual property; dependence on multi-residential market; dependence on oil & gas sector; possible acquisitions; interest rate risk; currency risk; credit risk; seasonality and weather; appraisal mandates; economic dependence; restrictions on potential growth; operating risks; risks of future legal proceedings; insurance limits; and legislative and regulatory changes. Given these risks and uncertainties, investors should not place undue reliance on forward looking statements as a prediction of actual results. 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 press release. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, the Fund 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 press release, and, except in accordance with applicable law, the Fund assumes no obligations to update or revise them to reflect new events or circumstances. Additionally, the Fund undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Fund, its financial or operating results, or its securities.

Contact Information