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Press release from Marketwire

Altus Group Completes $50 Million Convertible Debenture Offering

Wednesday, December 01, 2010

Altus Group Completes $50 Million Convertible Debenture Offering08:31 EST Wednesday, December 01, 2010TORONTO, ONTARIO--(Marketwire - Dec. 1, 2010) - NOT FOR U.S. RELEASE OR DISTRIBUTION TO U.S. NEWSWIRE SERVICESAltus Group Income Fund (the "Fund") (TSX:AIF.UN) is pleased to announce that it has completed its offering of 5.75% convertible unsecured subordinated debentures due December 31, 2017 (the "Debentures") at a price of $1,000 per Debenture for total gross proceeds of $50,000,000 (the "Offering"). The Offering was completed on a bought deal basis and was underwritten by a syndicate of underwriters co-led by BMO Capital Markets and National Bank Financial Inc. and including CIBC World Markets Inc., Canaccord Genuity Corp., Cormark Securities Inc. and Scotia Capital Inc. The Debentures have been listed on the TSX under the symbol AIF.DB. In addition to the offering, the underwriters have also been provided with an over-allotment option to subscribe for an additional $3,000,000 aggregate principal amount of Debentures, to be exercised within 30 days of the closing date. The Fund will use the net proceeds of the Offering to repay indebtedness of the Fund under its senior credit facility and to fund its continued growth strategy, including through acquisition opportunities from time to time and for general corporate purposes.About Altus Group Income FundAltus Group is the leading multidisciplinary provider of independent real estate consulting and professional advisory services worldwide. With a staff of over 1,700, Altus Group has a network of over 60 offices in 11 countries worldwide, including Canada, UK, Australia, Asia and the United States. We operate four interrelated Business Units, bringing years of expertise together into one comprehensive platform: Research, Valuation and Advisory; Cost Consulting and Project Management; Realty Tax Consulting and Geomatics services. Altus╩╣ clients include banks, financial institutions, governments, pension funds, asset and fund managers, developers and landlords and companies engaged in the oil and gas industry.Forward-Looking Statements Certain statements in this press release, including in particular statements regarding the Offering, may constitute "forward-looking" statements. When used in this press release, such statements use words, including but not limited to, "may", "will", "expect", "believe", "plan", "intend", "anticipate", "future" and other similar terminology. These forward-looking statements reflect the current expectations of the Fund's management regarding future events but involve known and unknown risks, uncertainties and other factors which may cause the outcome of the Offering or the actual results, performance or achievements of the Fund to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Actual events could differ materially from those projected herein and depend on a number of factors. These factors would include, but are not limited to, general state of the economy; dependence on oil and gas sector; competition in the industry; ability to attract and retain professionals; interest rate risk; currency risk; credit risk; ability to maintain profitability and manage growth; revenue and cash flow volatility; dependence on Canadian multi-residential market; integration of acquisitions; protection of intellectual property; weather; fixed-price and contingency engagements; performance of obligations/maintenance of client satisfaction; appraisal mandates; customer concentration; restrictions on potential growth; operating risks; risk of future legal proceedings; legislative and regulatory changes; and, insurance limits. There can be no assurance that the Offering will have the intended, or a positive, effect on the Fund's financial position, prospects for growth or future performance. In addition, there are numerous risks associated with an investment in the Debentures, or trust units of the Fund, which are also further described in the "Risk Factors" section of our annual information form dated March 24, 2010 and our other public filings on SEDAR. These forward-looking statements speak only as of the date of this press release. Except as required by applicable securities laws, the Fund does not undertake, and specifically disclaims, any obligation to update or revise any forward looking information, whether as a result of new information, future developments or otherwise.A final short form prospectus containing important information relating to the Offering was filed in all the provinces and territories of Canada. Please refer to the risk factors identified in the final short form prospectus under the heading "Risk Factors". A copy of the final short form prospectus is available online at www.sedar.com.The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registrations requirements of such Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction.FOR FURTHER INFORMATION PLEASE CONTACT: Sayla NordinAltus Group Income FundVP, Communications and Investor Relations(416) 557-0939www.altusgroupincomefund.com