Ms. Camilla Bartosiewicz reports

ALTUS GROUP COMPLETES ACQUISITION OF SC&H GROUP'S STATE AND LOCAL TAX PRACTICE

Altus Group Ltd. has completed the previously announced acquisition of SC&H Group Inc.'s state and local tax (SALT) consulting practice, a leading provider of specialized state and local tax and advisory services in the United States.

Altus Group paid approximately $38-million (U.S.) to acquire SC&H SALT, financed through a combination of cash, bank debt and equity (approximately $2-million). Approximately 107,000 shares were issued from treasury, priced at $21.35, based on a 30-day average price.

Highlights:

• Immediately expands market share and geographic reach in the United States, expanding Altus Group as one of the largest property tax advisers in the United States and globally, best equipped to service large multinational clients with operations in Canada, the United States and the United Kingdom;
• Strengthens expertise with approximately 93 additional professionals, adding significant state-specific knowledge (more than doubles U.S. tax team to approximately 165 employees);
• Strengthens property tax offerings with complementary and new business lines;
• Diversifies client base across wide spectrum of industry sectors, adding to growing list of Fortune 500 clients;
• Immediately financially accretive to adjusted earnings per share (EPS).

We seek Safe Harbor.