FirstService Grows Into the UK to Drive Expansion in Europe

Investment in Colliers CRE Complements 2008 Acquisitions in New York, New Jersey and Connecticut and Expands the Global Platform to Another Major Financial Center

TORONTO, Oct. 29, 2009 (GLOBE NEWSWIRE) -- FirstService Corporation (Nasdaq:FSRV) (TSX:FSV) (TSX:FSV.PR.U) today announced the completion of its purchase of a 29.99% interest in London-based Colliers CRE plc (AIM:COL), a leading commercial real estate consultancy service practice group with operations in the United Kingdom, Ireland and Spain. The terms of the transaction were not disclosed. All dollar amounts noted are in U.S. dollars.

Colliers CRE provides a broad range of real estate consultancy services including agency, valuation, property management, building consultancy and general consultancy to both UK and international clients. These services are delivered through specialist line teams which work closely together to provide integrated service. The Colliers CRE services are highly complementary to FirstService's current portfolio of services in Europe.

The significant ownership stake in Colliers CRE establishes FirstService's commercial real estate services platform in Europe's preeminent financial center which will drive expansion of the company's diversified portfolio of services in global markets. Colliers CRE is a leading player in commercial real estate services in the UK and trusted advisor to many multinational companies based in London and throughout the UK.

FirstService Real Estate Advisors also leads the $1.8 billion "Colliers International" global partnership operating in 61 countries around the world. FirstService Real Estate Advisors, including Colliers International, is the third largest commercial real estate services firm in the world.

"Becoming the largest shareholder of Colliers CRE was a key strategic move providing us with an important new hub in London while strengthening our ability to deliver the highest quality real estate advisory and transaction services to our multinational clients. Our investment in Colliers CRE will significantly enhance deal flow to our other operations globally including Colliers International, FirstService Real Estate Advisors and our other family of leading commercial real estate services," said Doug Frye, Chairman of Colliers International and President and CEO of FirstService Real Estate Advisors.

"The investment in Colliers CRE further demonstrates our commitment to build competitive advantage in global markets during this time of opportunity and highlights the attractiveness of our proven partnership model in partnering with talented entrepreneurial teams in the real estate services sector," said Jay S. Hennick, Founder and CEO of FirstService.

About FirstService

FirstService is a global diversified leader in the rapidly growing real estate services sector, providing services in the following three areas: commercial real estate; residential property management; and property services. Industry-leading service platforms include: FirstService Real Estate Advisors and Colliers International, the third largest global player in commercial real estate; FirstService Residential Management, the largest manager of residential communities in North America; and TFC, North America's largest provider of property services through franchise and contractor networks.

FirstService is a diversified property services company with over US$1.7 billion in annualized revenues and more than 18,000 employees worldwide. More information about FirstService is available at www.firstservice.com.

CONTACT:  FirstService Corporation
          Jay S. Hennick, Founder & CEO
          Douglas Frye, President & CEO, FirstService Real Estate
           Advisors & Chairman of Colliers International
          John B. Friedrichsen, Senior Vice President & CFO
          (416) 960-9500