FOR: FIRSTSERVICE CORPORATION
COMPANY CONTACTS:

Jay S. Hennick
President & Chief Executive Officer
FirstService Corporation
(416) 960-9500

D. Scott Patterson
Chief Financial Officer
FirstService Corporation
(416) 960-9500

PRESS CONTACT:
Jeffrey Elliott
McManus Elliott
(416) 362-5011
 

FOR IMMEDIATE RELEASE
 

TSE: FSV
Nasdaq: FSRV

FIRSTSERVICE DOUBLES CREDIT FACILITY TO $200 MILLION

TORONTO, Ontario (June 2, 1998) -- FirstService Corporation today announced that it has amended and restated its lending agreement to increase credit availability from $100 million to $200 million, providing additional financial resources to fund potential acquisitions.

The new credit facilities were underwritten by the Company`s existing syndicate of banks:
Dresdner Bank Canada, The Toronto-Dominion Bank, First Chicago NBD Bank, Canada and Societé Generale (Canada).

Terms of the facilities incorporate a more favourable interest rate and amortization structure as compared to those of the original debt facilities arranged in December, 1996. This should contribute to a lower cost of capital and greater availability of cash flow to fund the Company`s growth initiatives.

FirstService Corporation is a leader in the rapidly growing service sector, providing a variety of specialized Property and Business Services to corporate, government, and residential customers throughout North America.