AIF Altus Group Limited

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES.


Altus Group Limited ("Altus Group" or the "Company") (TSX:AIF) has announced
today that it has entered into an agreement with a syndicate of underwriters
co-led by BMO Capital Markets and Canaccord Genuity Corp., under which the
underwriters have agreed to buy on a bought deal basis 3,050,000 common shares
in the capital of the Company (the "Common Shares"), at a price of $13.15 per
Common Share (the "Offering Price") for gross proceeds of $40,107,500 (the
"Offering"). The Company has granted the Underwriters an option, exercisable at
the Offering Price for a period of 30 days following the closing of the
Offering, to purchase up to an additional 15% of the Offering to cover
over-allotments, if any. The Offering is expected to close on or about October
31, 2013 and is subject to Altus Group receiving all necessary regulatory
approvals.


The net proceeds of the Offering will be used for the repayment of debt and
general corporate purposes, including Altus Group's growth strategy.


"This Offering positions Altus Group for long-term growth," said Chief Executive
Officer, Robert Courteau. "We continue to pursue attractive opportunities to
create long-term shareholder value with the strengthening of our core business
units and our strategic plan for growth, including our focus on the Global Asset
and Investment Management marketplace."


The Common Shares will be offered by way of a short form prospectus in all of
the provinces and territories of Canada and may also be offered by way of
private placement in the United States. 


The securities offered have not been registered under the U.S. Securities Act of
1933, as amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements. This
press release shall not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of, the securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful.


About Altus Group

Altus Group is a leading provider of independent commercial real estate
consulting and advisory services, software and data solutions. We operate five
interrelated Business Units, bringing together years of experience and a broad
range of expertise into one comprehensive platform: Research, Valuation and
Advisory; ARGUS Software; Property Tax Consulting; Cost Consulting and Project
Management and Geomatics. Our suite of services and software enables clients to
analyze, gain insight and recognize value on their real estate investments.


Altus Group has over 1,800 employees in multiple offices around the world,
including Canada, the United States, the United Kingdom, Australia and Asia
Pacific. Altus Group's clients include financial institutions, private and
public investment funds, insurance companies, accounting firms, public real
estate organizations, real estate investment trusts, industrial companies,
foreign and domestic private investors, real estate developers, governmental
institutions and firms in the oil and gas sector. 


For more information, please visit www.altusgroup.com.

Forward-Looking Information

Certain information in this press release may constitute "forward-looking
information" within the meaning of applicable securities legislation. All
information contained in this press release, other than statements of current
and historical fact, is forward-looking information. Generally, forward-looking
information can be identified by use of words such as "may", "will", "expect",
"believe", "plan", "would", "could" and other similar terminology. All of the
forward-looking information in this press release is qualified by this
cautionary statement. 


Forward-looking information includes, but is not limited to, information that
relates to Altus Group's objectives, strategies and intentions, and future
financial and operating performance and prospects, including the intention to
complete the proposed Offering and expectations as to the use of proceeds from
the Offering. Forward-looking information is not, and cannot be, a guarantee of
future results or events. Forward-looking information is based on, among other
things, opinions, assumptions, estimates and analyses that, while considered
reasonable by Altus Group at the date the forward-looking information is
provided, inherently are subject to significant risks, uncertainties,
contingencies and other factors that may cause actual results, performance or
achievements to be materially different from those expressed or implied by the
forward-looking information. The material factors or assumptions that Altus
Group identified and applied in drawing conclusions or making forecasts or
projections set out in the forward-looking information include, but are not
limited to: the successful execution of its business strategies; consistent and
stable economic conditions or conditions in the financial markets; consistent
and stable legislation in the various countries in which Altus Group operates;
no disruptive changes in the technology environment; the opportunity to acquire
accretive businesses; the successful integration of businesses; and the
continued availability of qualified professionals. 

The risks, uncertainties, contingencies and other factors that could cause
actual results to differ materially from the forward-looking information
include, but are not limited to: the general state of the economy; competition
in the industry; ability to attract and retain professionals; integration of
acquisitions; dependence on oil and gas sector; dependence on Canadian
multi-residential market; customer concentration; currency risk; interest rate
risk; reliance on larger software transactions with longer and less predictable
sales cycles; success of new product introductions; ability to respond to
technological change and develop products on a timely basis; ability to maintain
profitability and manage growth; revenue and cash flow volatility; credit risk;
protection of intellectual property or defending against claims of intellectual
property rights of others; weather; fixed-price and contingency engagements;
operating risks; performance of obligations/maintenance of client satisfaction;
appraisal mandates; legislative and regulatory changes; the risk of future legal
proceedings; insurance limits; income tax matters; ability to meet solvency
requirements to pay dividends; leverage and restrictive covenants;
unpredictability and volatility of Common Share price; capital investment; and
the issuance of additional Common Shares diluting existing shareholders'
interests, as well as those described in Altus Group's publicly filed documents,
including the most recent annual information form dated March 28, 2013 (which
are available on SEDAR at www.sedar.com). Should one or more risk, uncertainty,
contingency or other factor materialize or should any factor or assumption prove
incorrect, actual results could vary materially from those expressed or implied
in the forward-looking information. The timing and completion of the proposed
Offering are subject to customary conditions, termination rights and other risks
and uncertainties. Accordingly, there can be no assurance that the proposed
Offering will occur, or that it will occur on the timetable or on the terms and
conditions contemplated. The proposed Offering could be modified, restructured
or terminated. Altus Group does not assume any obligation to update or revise
any forward-looking information after the date of this press release or to
explain any material difference between subsequent actual events and any
forward-looking information, except as required by applicable law. Additionally,
Altus Group undertakes no obligation to comment on analyses, expectations or
statements made by third parties in respect of Altus Group, its financial or
operating results, or its securities, or the proposed Offering. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Altus Group Limited
Elif McDonald
VP, Investor Relations and Corporate Communications
(416) 641-9804
Investor.relations@altusgroup.com
www.altusgroup.com

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