TORONTO, Ontario (July 25, 2000) -- FirstService Corporation today announced record financial results for the first three months of fiscal 2001, including a 24% increase in revenues to US $105.4 million from US $84.9 million a year earlier, and a 29% jump in EBITDA to US $14.5 million from US $11.2 million.

Net earnings were US $4.7 million, up 31% over the prior year period, while diluted earnings per share increased 31% to US $0.34 from US $0.26.

"First quarter results reflect a continuation of our strong operating performance during the fiscal year ended March 31, 2000", said Scott Patterson, Senior Vice President and Chief Financial Officer. "All of our operations are meeting or exceeding internal budgets and we are confident of achieving our financial growth targets for the current fiscal year", he concluded.

Revenue from Property Services was US $86.4 million, an increase of US $17.3 million or 25% over the prior year. Approximately US $8.0 million of the revenue increase resulted from acquisitions, including American Pool Enterprises which closed effective June 1, 1999 and several tuck-under companies. The balance of the increase resulted from continued strong internal growth.

Revenue from Business Services rose to US $19.0 million for the quarter, a 20% increase over the prior year, reflecting both solid internal growth and the impact of the acquisition of DDS Southwest which closed at the end of the first quarter last year.

Subsequent to the end of the first quarter, FirstService completed five tuck-under acquisitions which added more than US $20.0 million in annual revenue, increased the total number of properties and residential units under management to more than 1,800 and 350,000, respectively, and expanded the breadth of services offered to managed communities.

FirstService Corporation is a leader in the rapidly growing service sector, providing a variety of specialized property and business outsourcing services--including residential property management, security, consumer services and data processing and specialized trade material fulfillment--to a variety of customers throughout North America. Top and bottom line growth have exceeded the company's 20% annual threshold objective for eight years in a row.

Certain statements included in this release constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (the "Reform Act"). Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following: general economic and business conditions, which will, among other things, impact demand for the Company's services, service industry conditions and capacity; the ability of theCompany to implement its business strategy, including the Company's ability to acquire suitable acquisition candidates on acceptable terms and successfully integrate newly acquired businesses with its existing businesses; changes in or the failure to comply with government regulations (especially safety and environmental laws and regulations); and other factors which are described in the Company's filings with the Securities and Exchange Commission.