Cagim Announces Increase in Results for Second Quarter of 2008

QUEBEC, CANADA, Aug 27 (MARKET WIRE) --
Cagim Real Estate Corporation (TSX VENTURE: CIM)(Cagim), a real estate
management and acquisition corporation, is pleased to announce today its
financial results for the second quarter ended June 30, 2008.

Highlights:

- Revenues from operations increased 64.2% to $982,496 and increased 60.5%
for the first six months.

- Profit from real estate activities increased 183% to $258,779
(2007 - 91 435$).

- The occupancy rate of buildings with multiple purposes representing 4 of
the 5 buildings in the real estate portfolio reached 90.5% compared to
86.1% three months earlier.

- Signature of the first tenants of the Complexe Lebourgneuf project whose
construction should begin during the third quarter of 2008.

- The liquid assets available as at June 3, 2008 were above $2,48 million

Selected Financial Information:

For the three month period ended
June 30, 2008 2008 2007 Variation %
------------------------------------------------------------------------
Revenues (3) 982,496 598,023 64
Income from real estate activities
(NOI)(1)(3) 258,779 91,435 183
Net loss (3) (33,220) (85,962) N/A
Income from operations (FFO) (2) (3) 147,159 32,574 351
Liquid assets 2,482,280 166,720 1488
Shareholders' equity 4,596,365 3,145,028 46
------------------------------------------------------------------------
(1) Income from real estate activities (NOI) is not a measure of
performance in compliance with Canadian GAAP but is a measure
commonly used in the real estate sector.
(2) Income from operations (FFO) is not a measure of performance in
compliance with Canadian GAAP but is a measure commonly used in
the real estate sector.
(3) For purposes of comparison, the 2007 figures only take into account
those operations and therefore do not include activities related to
buildings sold in 2007
------------------------------------------------------------------------

A second quarter marked by an acceleration of growth shown in the
first quarter.

Management's Discussion and Analysis of Financial Position and Results of
Operations

Revenues

During the quarter ended June 30, 2008, revenues from continuing
operations stood at $982,496 compared to $598,023 in 2007 representing an
increase of 64.2%. The change in revenues between periods is mainly
attributable to the acquisition of 50% of the shares of Lombard Societe
en commandite, which contributed for three months in 2008 compared to
only one month in 2007 and Place d'Affaires Lebourgneuf Phase 2 which
contributed 192,779 (2007 - $).The remainder of the increase came from
internal growth of buildings that were already held by the corporation in
the first quarter of 2007 and the management contract awarded for the
Place d'Affaires Lebourgneuf Phase 1 building which was sold in 2007.

Income from real estate activities

For the quarter ended June 30, 2008, income from real estate activities
from continuing operations increased 183% to $258,779 compared to
$91,435. This increase is mainly linked to the acquisition of Lombard,
the contribution of Place d'Affaires Lebourgneuf Phase 2 and to internal
growth. With the arrival of new tenants during the second and third
quarter, the contribution of the contribution of Place d'Affaires
Lebourgneuf Phase 2 is expected to increase in coming quarters.

Capital

Shareholders' equity per share is up 39% compared with the first quarter
of 2007 to reach $0.33 per share as at 31, March 2008. Furthermore, this
value does not include potential increase in value on properties from the
difference between market value and book value of properties.

Liquid assets

There is a sharp increase of liquid assets to over $0.18 per share as at
June 30, 2008 even after the payment of a dividend of $0.15 per Class A
share in the first quarter of 2008.

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., Complexe
Lebourgneuf Inc. and Palim Inc.

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

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.

Contacts:
Cagim Real Estate Corporation
Mr. Denis Lepine
Chief Financial Officer
418-622-6644

Cagim Real Estate Corporation
Mr. Guy Boutin
Leasing and Development Officer
418-622-6644

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