Tuesday, December 1, 2009

Abode Mortgage Holdings Corp Announces Closure

Abode Mortgage Holdings Corp. Announces the Closure of the Company's
Mortgage Origination Business
11/30/2009 10:25:02 AM - Market Wire

VANCOUVER, BRITISH COLUMBIA, Nov 30, 2009 (Marketwire via COMTEX News Network)

Abode Mortgage Holdings Corp (TSX VENTURE:ABD) (the "Company" ) today
announces that the sale of its wholly-owned subsidiary, Abode Mortgage
Corporation (AMC), as described in the Company's November 27, 2009 press
release is no longer proceeding. Further, the interim funding and mortgage
loan purchase arrangements referred to in the release have terminated.
Without an established funding and whole loan purchase arrangement, AMC
cannot properly carry on its business and the Directors of the Company have
decided to cease operations.

In commenting on these developments, the Company's CEO, Mike Linehan, stated: "Management and the staff of AMC are devastated by the decision to cease operations. However, without a committed mortgage funding and whole loan sale partner, the business of AMC is not viable. We wish to thank our loyal industry partners and deeply regret our inability to carry on in business."

About Abode Mortgage Holdings Corp.

Abode Mortgage Holdings Corp. is a public company trading on the TSX Venture
Exchange under the symbol ABD.

SOURCE: Abode Mortgage Holdings Corp.

Abode Mortgage Holdings Corp. Mike Linehan CEO ir@abodecorp.com www.abodecorp.com

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