Press Release

BUILDERS BEGIN SELLING AT THE RESIDENCES AT BULLE ROCK

Columbia, MD - Tuesday, January 18, 2005 - In a statement issued today, Richard Alter, on behalf of H&S Properties, Manekin Corporation and Clark Turner, announced that home sales are underway at The Residences at Bulle Rock - an exquisite new community located in Havre de Grace, Maryland offering resort-style amenities and situated around the award-winning Pete Dye-designed public golf course. The community's builders include Clark Turner, D.R. Horton, NVHomes, Ryan Homes and Ryland Homes.

The Residences at Bulle Rock, a gated community located less than one mile off I-95 between Baltimore, Maryland and Wilmington, Delaware, will contain 25 individual neighborhoods - all named after significant facets of the area's rich heritage - and will offer a diverse mix of housing options, including single family homes -- attached and detached -- villas and condominiums.

The five award-winning builders at The Residences at Bulle Rock will offer a wide array of styles and choices to meet the lifestyle expectations of the individual homebuyer. An overview of models and starting prices is as follows:

Clark Turner:
Villas and Single Family Homes priced from the $400's

D.R. Horton:
Single Family Homes priced from the upper $300's
Villas priced from the lower to mid-$300's

NVHomes:
Single Family Homes - Coming Soon
Villas priced from the upper $300's

Ryan Homes:
Single Family Homes priced from the upper $300's
Condominiums priced from the upper $200's

Ryland Homes:
Villas priced from the mid to upper $300's

The Residences at Bulle Rock will offer homeowners an activity rich lifestyle and will feature resort-style amenities such as a two-story, 37,000 square foot clubhouse, indoor and outdoor pools, a luxurious spa facility that includes saunas and a whirlpool, a professionally managed health and wellness center, extensive walking trails, tennis courts and a planned marina and yacht club. Additionally, residents will be able to enjoy activities such as bocce ball, billiards, relaxing in the spa and meeting with friends in the on-site café.

Adding to the ambiance of the community, The Residences at Bulle Rock will contain approximately 2,000 homes - all surrounding the Pete Dye-designed public golf course - recognized as the best public course in the state of Maryland and listed as the third finest public course in the country by Zagat. Additionally, the course is also recognized by the readers of Golf Digest as one of only 16 courses in North America to receive a five star rating and will be home to the McDonald's LPGA Championship presented by Coca-Cola beginning in June, 2005.

The Residences at Bulle Rock offers not only a home, but also a sought-after, activity rich lifestyle. The community offers the setting of a small town waterfront environment, yet is convenient to big city resources. Just a few miles from the Chesapeake Bay, this serene community will attract those buyers with a priority for location and a desire for a full, diversified lifestyle.

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