FirstService Announces Normal Course Issuer Bid

FirstService Announces Normal Course Issuer Bid

TORONTO, June 4, 2013 (GLOBE NEWSWIRE) -- FirstService Corporation (TSX:FSV)
(TSX:FSV.DB.U) (Nasdaq:FSRV) ("FirstService") announced today that the Toronto
Stock Exchange (the "TSX") has accepted a notice filed by FirstService of its
intention to make a normal course issuer bid (the "NCIB") with respect to its
outstanding subordinate voting shares (the "Subordinate Voting Shares").

The notice provides that FirstService may, during the 12 month period
commencing June 7, 2013 and ending no later than June 6, 2014, purchase
through the facilities of the TSX or The NASDAQ Global Select Market
("Nasdaq") up to 2,755,000 Subordinate Voting Shares in total, being
approximately 10% of the "public float" as of June 3, 2013 of such class of
shares. Purchases of Subordinate Voting Shares through Nasdaq will be made in
the normal course and will not, during the 12 month period ending June 6, 2014
exceed, in the aggregate, 5% of the outstanding Subordinate Voting Shares as
at the commencement of the NCIB. The price which FirstService will pay for any
such shares will be the market price at the time of acquisition. During the
period of this NCIB, FirstService may make purchases under the NCIB by means
of open market transactions or otherwise as permitted by the TSX and/or
Nasdaq, including pre-arranged crosses, exempt offers, private agreements
under an issuer bid exemption order issued by a securities regulatory
authority and block purchases in accordance with the TSX Company Manual. The
actual number of Subordinate Voting Shares which may be purchased pursuant to
the NCIB and the timing of any such purchases will be determined by senior
management of FirstService. Daily purchases under the NCIB will be limited to
12,292 Subordinate Voting Shares, other than block purchases. All shares
purchased by FirstService under the NCIB will be cancelled.

As of June 3, 2013, there were 31,931,387 Subordinate Voting Shares, 1,325,694
multiple voting shares and US$76.992 million aggregate principal amount of
6.50% convertible unsecured subordinated debentures of FirstService
outstanding.

FirstService believes that the Subordinate Voting Shares may from time to time
trade in a price range that does not adequately reflect the value of such
shares in relation to the business of FirstService and its future business
prospects. As a result, depending upon future price movements and other
factors, FirstService believes that the Subordinate Voting Shares may
represent an attractive investment to FirstService. Furthermore, purchases of
Subordinate Voting Shares are expected to benefit all persons who continue to
hold Subordinate Voting Shares by increasing their equity interest in
FirstService.

During the preceding twelve month period ended May 31, 2013, FirstService
purchased for cancellation an aggregate of 35,000 Subordinate Voting Shares at
an average weighted price of C$28.18 per share.

ABOUT FIRSTSERVICE

FirstService Corporation is a global leader in the rapidly growing real estate
services sector, one of the largest markets in the world. As one of the
largest property managers in the world, FirstService manages more than 2.3
billion square feet of residential and commercial properties through its three
industry-leading service platforms: Colliers International, one of the largest
global players in commercial real estate services; FirstService Residential,
North America's largest manager of residential communities; and the Property
Services division, one of North America's largest providers of essential
property services delivered through company-owned operations, franchise
systems and contractor networks.

FirstService generates over US$2.3 billion in annual revenues and has more
than 23,000 employees worldwide. More information about FirstService is
available at www.firstservice.com.

Forward-looking Statements

Certain information included in this news release is forward-looking, within
the meaning of applicable securities laws. Much of this information can be
identified by words such as "believe", "expects", "expected", "will",
"intends", "projects", "anticipates", "estimates", "continues" or similar
expressions suggesting future outcomes or events. FirstService believes the
expectations reflected in such forward-looking statements are reasonable but
no assurance can be given that these expectations will prove to be correct and
such forward-looking statements should not be unduly relied upon.

Forward-looking statements are based on current information and expectations
that involve a number of risks and uncertainties, which could cause actual
results or events to differ materially from those anticipated. These risks
include, but are not limited to, risks associated with: (i) general economic
and business conditions, which will, among other things, impact demand for
FirstService's services and the cost of providing services; (ii) the ability
of FirstService to implement its business strategy, including FirstService's
ability to acquire suitable acquisition candidates on acceptable terms and
successfully integrate newly acquired businesses with its existing businesses;
(iii) changes in or the failure to comply with government regulations; and
(iv) such factors as are identified in FirstService's Annual Information Form
for the year ended December 31, 2012 under the heading "Risk Factors" (which
factors are adopted herein and a copy of which can be obtained at
www.sedar.com). Forward looking statements contained in this news release are
made as of the date hereof and are subject to change. All forward-looking
statements in this news release are qualified by these cautionary statements.
Except as required by applicable law, FirstService undertakes no obligation to
publicly update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise.

CONTACT: Jay S. Hennick
         Founder & CEO
         (416) 960-9500
        
         John B. Friedrichsen
         Senior Vice President & CFO
         (416) 960-9500
 
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