QUEBEC, CANADA — (Marketwire) — 05/01/09 — Cagim Real Estate Corporation (TSX VENTURE: CIM) Cagim, a real estate management and acquisition corporation (the “Corporation”), is pleased to announce its financial results for the fiscal year 2008 ended December 31, 2008.

Highlights :

- Growth in operating revenues of 74.2% or 54.2% excluding non-recurring income.

- Increase in net operating income of 71.9% or 37.8% excluding non-recurring income.

- Net income from continuing operations: $9,042 compared to a loss of $117,326 in 2007.

- Net loss of $43,504 compared to a net income of $4,635,375. Fiscal year 2007 included a $5,294,042 gain on the disposal of assets.

- Construction got under way for Complexe Lebourgneuf, a building of over 215,000 square feet. Cagim has invested $2,596,500 in the complex as at December 31, 2008 and has secured conditional interim construction financing of $18,950,000. Cagim owns 50% of this project through one of its subsidiaries

- Occupancy rates rose to 89.1%, a 3.6% increase over December 31, 2007.

The fiscal year ended December 31, 2008 was marked by significant growth, related primarily to the commencement of the Place d’Affaires Lebourgneuf phase 2, which was under construction at the same period last year. The remainder of the growth was due to increase in the occupancy rate at existing buildings, from the management contract obtained on a building sold in 2007.

Management Discussion and Analysis of Financial Position and Results of Operations

Operating revenues

During the fiscal year ended December 31, 2008, operating revenues from continuing operations totaled $4,139,001 compared to $2,375,405 in 2007, representing a 74.2% increase. The change in operating revenues between the periods is due primarily to the start of operations at Place d’Affaires Lebourgneuf Phase 2 for $746,567 as well as non-recurring income of $475,000 relating to the buyout of a lease before maturity from a tenant in Edifice Centre d’Affaires le Mesnil. In addition, the Lombard limited partnership acquired in 2007 contributed to results for 12 months in 2008 rather than seven as it did in 2007.

Benefice d’exploitation net

Net operating income from continuing real estate operations was $2,286,718 for the fiscal year ended December 31, 2008, compared to $1,330,085 in 2007. This represents a 71.91% increase over the 2007 fiscal year, which can be explained by a number of factors. First, net operating income for 2007 included non-recurring income of $453,625 from a lease buyback. In addition, Place d’Affaires Lebourgneuf Phase 2 contributed $451,023 ($0 in 2007).

Occupancy Rate

The occupancy rate of our income properties rose significantly in 2008-from 85.5% at December 31, 2007, to 89.1% at December 31, 2008-attesting to our hard work and the vibrancy of the Quebec region, where four of our buildings are located.

Dividends

The Corporation paid 15 cents per share dividend at the beginning of the 2008 fiscal year. The Corporation does not intend to issue recurring dividends in the foreseeable future.

Property under development

As of today, Complexe Lebourgneuf, the building under development at the end of 2008, is already leased at more than 45%. First occupants of this building of 215,000 square-feet will arrive in the third quarter of 2009 and net revenues related to signed lease agreements already exceed the amount required to service the debt.

About Cagim Real Estate Corporation

The Corporation is listed on the TSX Venture Exchange and operates property management and acquisition activities. The Corporation operates its activities through its subsidiaries ADG immobilier inc. and Complexe Lebourgneuf inc.

For more information, please contact Mr. Stephane Beshro, President, Mr. Denis Lepine, Chief Financial Officer or Mr. Guy Boutin, Leasing and Development Officer of Cagim Real Estate Corporation at (418) 622-6644.

FORWARD-LOOKING INFORMATION – This press release contains forward-looking statements reflecting Cagim objectives, estimates, expectations and the impact of acquisitions on Cagim’s financial performance. These statements are identified by the use of verbs such as “believe”, “anticipate”, “estimate”, and “expect” as well as by the use of future or conditional tenses. By their very nature, these types of statements involve risks and uncertainty. Consequently, reality may differ materially from Cagim’s projections or expectations.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contacts: Cagim Real Estate Corporation Mr. Stephane Beshro President 418-622-6644 Cagim Real Estate Corporation Mr. Denis Lepine Chief Financial Officer 418-622-6644 Cagim Real Estate Corporation Guy Boutin Leasing and Development Officer 418-622-6644