Richard Homburg, Chairman and CEO of Homburg Invest Inc. ("Homburg Invest" or "the Company") is pleased to announce Homburg Invest has released the June 30, 2008 financial results prepared under both Canadian Generally Accepted Accounting Principles (GAAP) and International Financial Reporting Standards (IFRS). The complete June 30, 2008 financial results and MD&A will be available for viewing and downloading from the corporation's web site at www.homburginvest.com.

The Company is pleased to announce a substantial increase in the results both under IFRS and Canadian GAAP for the six months ended June 30, 2008.

Increase in IFRS results:

Property revenue increased 60.2% to $152.1 million compared to June 30, 2007.
Property net operating income (note) increased 42.4% to $112.2 million compared to June 30, 2007
Funds from operations per share (note) increased 72.2% to $0.31 compared to June 30, 2007
Funds from operations (note) increased 137.0% to $56.1 million compared to June 30, 2007

Increase in Canadian GAAP results:
Property revenue increased 59.3% to $151.2 million compared to June 30, 2007
Property net operating income (note) increased 41.3% to $111.4 million compared to June 30, 2007
Funds from operations per share (note) increased 70.0% to $0.34 compared to June 30, 2007
Funds from operations (note) increased 138.8% to $62.2 million compared to June 30, 2007

The Company prepares it's quarterly and annual statements under both GAAP and IFRS. This reflects the Board's view that the IFRS presentation most accurately reflects the financial position of a real estate investment company, while at the same time the Company continues to comply with requirements to produce its results under GAAP. This also reflects the Company's desire to provide its shareholders with as much information as possible in today's environment of continuing concerns with respect to financial disclosure in the market place.

The most significant differences between IFRS and GAAP statements are that while the IFRS statements reflect the investment properties at fair value and are without depreciation charges, the GAAP statements record the fixed assets at historical cost less accumulated depreciation. In addition, deferred charges relating to leasing fees have been recorded as an asset in the GAAP financial statements and will be charged to expense over the period of the related lease. These charges are written off in the period incurred under IFRS.

Financial Highlights - IFRS
Second Quarter ended June 30, 2008
Six MonthsEnded
June 30 2008 Six Months Ended June 30 2007 Increase

Property revenue $152,103 $94,961 60.2%
Property net operating income $112,212 $78,796 42.4%
Other revenue $134,615 $47,384
Unrealized valuation changes ($4,011) $25,093
Net earnings $34,563 $48,578
Earnings per share - basic and diluted $0.19/$0.18 $0.38/$0.35
Funds from operations $56,084 $23,665 137.0%
Funds from operations per share - basic and diluted $0.31/$0.30 $0.18/$0.17 72.2%

Financial Highlights - IFRS
Second Quarter ended June 30, 2008
(000's) Three Months
Ended June 30 2008 Three Months Ended June 30 2007 Increase

Property revenue $77,290 $54,925 40.7%
Property net operating income $56,972 $42,976 32.6%
Other revenue $49,672 $27,076
Unrealized valuation changes ($3,389) $16,538
Net earnings $16,709 $29,598
Earnings per share - basic and diluted $0.09/$0.09 $0.22/$0.20
Funds from operations $25,828 $9,114 183.4%
Funds from operations per share - basic and diluted $0.14/$0.13 $0.07/$0.06 100.0%

Property revenue for the second quarter is up 40.7% over the same quarter in 2007 to $77.3 million. At the same time property net operating income (NOI) increased to $57.0 million from $43.0 million, an increase of 32.6%.
The positive aspects of the growth in our portfolio also manifest themselves in our funds from operations ("FFO") which improved to $25.8 million in the second quarter of 2008, up 183.4% from 2007's quarter two. On an annualized basis this is a FFO of $0.62 per share, which is a FFO payout ratio (note) of 77.4%. When the 50% participation in our dividend reinvestment program is factored in, the cash outflow on our annual $0.48 dividend is $0.24, a FFO cash payout ratio of 38.7%.

Shareholders' equity increased from $886.3 million at December 31, 2007 to $886.7 million at June 30, 2008.

Financial Highlights - GAAP
Second Quarter ended June 30, 2008
(000's) Six Months
Ended June 30 2008 Six Months Ended June 30 2007 Increase

Property revenue $151,241 $94,961 59.3%
Property net operating income $111,350 $78,795 41.3%
Other income $141,054 $50,047
Realized gains on sale of property $Nil $2,179
Net earnings $18,543 $18,092
Earnings per share - basic and diluted $0.10/$0.10 $0.14/$0.13
Funds from operations $62,166 $26,036 138.8%
Funds from operations per share - basic and diluted $0.34/$0.33 $0.20/$0.19 70.0%

Financial Highlights - GAAP
Second Quarter ended June 30, 2008
(000's) Three Months
Ended June 30 2008 Three Months Ended June 30 2007 Increase

Property revenue $76,879 $54,925 40.0%
Property net operating income $56,561 $42,976 31.6%
Other income $48,731 $29,666
Net earnings $9,325 $9,490
Earnings per share - basic and diluted $0.05/$0.05 $0.07/$0.07
Funds from operations $28,532 $11,485 148.4%
Funds from operations per share - basic and diluted $0.15/$0.15 $0.09/$0.08 66.7%

Homburg Invest, with its head office in Halifax, Nova Scotia, owns and develops a diversified portfolio of quality real estate including office, retail, industrial and residential apartment and townhouse properties throughout Canada, the United States and Western Europe.


Homburg Invest Inc.
announces declaration of semi-annual dividend of $0.24


Shares issued: Class A - 155,578,911 Class B - 31,514,782

Halifax, Nova Scotia, August 8, 2008 (TSX: HII.A & HII.B and Euronext:HII) Richard Homburg, Chairman and CEO of Homburg Invest Inc. ("Homburg Invest") is pleased to announce that at a meeting of the Board of Directors held August 8, 2008 the payment of the semi-annual dividend of $0.24 per share was approved. The dividend will be payable on September 30, 2008 to holders of Class A Subordinate Voting Shares and Class B Multiple Voting Shares at the close of business on September 16, 2008.

The Board of Directors of the Company has also determined that the price of Class A Subordinate Voting Shares which may be purchased with cash dividends, under the Company's Dividend Reinvestment Plan, with respect to these dividend payments will be 97% of the market price as determined under the Plan.

All dividends paid by Homburg Invest are eligible dividends unless indicated otherwise.

Homburg Invest, with its head office in Halifax, Nova Scotia, owns and develops a diversified portfolio of quality real estate including office, retail, industrial and residential apartment and townhouse properties throughout Canada, the United States and Europe.