"We are very pleased with our 2008 financial results; we achieved
continued growth in our markets despite the general economic turmoil and
credit crisis. Our fundamentals remain very solid, as reflected by our stable
occupancy rate of 94.6%, our ability to renew and arrange financings, and our
conservative interest coverage ratio of 2.7:1. Cominar is well positioned to
maintain a sound financial performance through an economic downturn, given its
quality real estate portfolio, solid and well-diversified tenant base,
disciplined cost management, healthy financial position and growth potential,"
indicated Michel Dallaire, President and Chief Executive Officer of Cominar.
Operating revenues totaled $235.3 million for the fiscal year ended
December 31, 2008, up 29.4%. This significant increase is due mainly to the
contribution of the acquisitions completed and integrated in 2007 and 2008.
