Press Release & News

FOR IMMEDIATE RELEASE

Abode Mortgage Holdings Corp. Announces Completing a $ 14.1 Million Whole Loan Sale and the Extension of a Working Capital Credit Facility

Abode Mortgage Holdings Corp. (ABD) is pleased to report that on January 30, 2009 its wholly owned subsidiary Abode Mortgage Corporation completed another insured whole loan sale with a book value of $ 14.1 Million and a sale value of $ 14.8 Million.

The Company is also pleased to announce it has extended its original working capital credit facility set to mature on January 31, 2009 until July 31, 2009. Under the major terms of the agreement Abode will be required to repay the facility on or before July 31, 2009, pay a renewal fee of 3%, pay a further fee equal to 2% of the April 30, 2009 balance outstanding, and pay 18% interest on the outstanding balance, compounded monthly. Abode paid $100,000 in reduction of the outstanding principal balance and has agreed to implement a payment schedule to further reduce the debt at a rate of $100,000 per month from February, 2009 with the final balance due on or before July 31, 2009.

About Abode Mortgage Holdings Corp.

Abode Mortgage Holdings Corp. is a publicly traded company on the TSX Venture Exchange under the symbol ABD, and through its wholly owned subsidiary, Abode Mortgage Corporation, provides residential mortgage financing to Canadians in the markets we serve. Headquartered in Vancouver, Abode Mortgage Corporation is delivering a new standard of service excellence to the Canadian residential mortgage industry by providing simplified products, consistent underwriting decisions, competitive pricing and compensation programs. The company launched its lending operations in Western Canada and recently expanded into the Province of Ontario.

Information about Abode Mortgage Corporation is available on the Internet at: www.abodecorp.com

For further information, contact:
Mike J. Linehan
CEO

Abode Mortgage Holdings Corp.
Telephone: 604.642.2633
Email: ir@abodecorp.com

Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to the use of proceeds.  These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements, and as such undue reliance should not be placed on forward-looking information.  Such factors include, among others, the financial needs of Abode on an ongoing basis and the timing and amount of Abode’s expenditures.

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