TORONTO, ONTARIO, CANADA December 10, 2008 –

Home Ownership Alternatives (“HOA”) is pleased to announce that it isshortlisted for the prestigious World Habitat Award, 2008.Awards are given each year to projects from all over the world that providepractical and innovative solutions to current housing needs and problems.The application that HOA is being considered for is entitled “A NewFinancing Paradigm for Affordable Home Ownership.” This program is asuccess due to a novel combination of several financial tools that enableslow and moderate income families to become home owners.“We are very excited to be shortlisted for this global award,” said RichardOwen, CEO for HOA, “We hope that this recognition will build themomentum for us to finance the building of more affordable housing”.Home Ownership Alternatives, established in 1997, is a non-profitcorporation working to help low and moderate income households to owntheir home. HOA provides families down payment assistance in the form of 2

mortgage loans. These 2

mortgages are payable on resale of thehome and no payments of principal or interest are required until the homeis resold, although homeowners may choose to repay them voluntarily.HOA also finances the start of new affordable developments.Many HOA developments have been located in the Toronto area whereaverage house prices exceed $350,000 and most families need an annualincome greater than $75,000 to purchase a home.