Firstservice to Buy Back Shares Up to 10%

FirstService Corporation FSRV announced today that the Toronto Stock Exchange has accepted a notice filed by FirstService of its intention to make a normal course issuer bid with respect to its outstanding subordinate voting shares (the "Subordinate Voting Shares") and 7% cumulative preference shares, series 1 (the "Preferred Shares"). The notice provides that FirstService may, during the 12 month period commencing June 7, 2011 and ending no later than June 6, 2012, purchase through the facilities of the TSX or The NASDAQ Global Select Market up to 2,540,000 Subordinate Voting Shares and 397,500 Preferred Shares in total, being approximately 10% of the "public float" of each class of such shares, respectively. 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, 2012 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 and/or Preferred 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 20,122 Subordinate Voting Shares and 1,405 Preferred Shares, respectively, other than block purchases. All shares purchased by FirstService under the NCIB will be canceled.