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PRESS RELEASE

April 15, 2003
FOR IMMEDIATE RELEASE




Contact: Marlo Naber
949-777-9400

ENVIRONMENTALLY-FRIENDLY DEVELOPMENT OF NEW QUALITY HOMES
TO BE OFFERED IN NORTH SAN DIEGO COUNTY
“… a project that has been created with the help of our neighbors and local government.”

HIDDEN MEADOWS, CA—Greystones Homes and Institutional Housing Partners (IHP) will break ground Thursday, April 17, 2003 at 9 a.m. for their new project in Hidden Meadows, North San Diego County.

“ We are looking forward to bringing to the community a project that has been created with the help of our neighbors and local government,” said Jim Resney, Vice President of IHP. “We are confident that we have produced a project of which we can all be proud.”

Both Greystone Homes and IHP remain committed to protecting the region’s natural environment by preserving significant open space. The new development, The Glens, The Highlands and The Summit, was shaped to blend with the existing neighborhoods and terrain of Hidden Meadows.

Representatives of Congressman Darrell Issa, Senator Dennis Hollingsworth, Assemblyman Ray Haynes and Supervisor Bill Horn will attend to celebrate the new addition to the community.

Greystone Homes provides value-packed homes and an outstanding home buying experience by building in good locations and using innovative designs, superior construction and knowledgeable associates. IHP is one of the nation’s largest investment firms dedicated primarily to providing equity financing for residential development throughout the United States.

Models will be available for preview in July 2003.

Event: The Glens, The Highlands, The Summit—Hidden Meadows
Groundbreaking Ceremony
Date: Thursday, April 17, 2003
Time: 9 a.m.
Location: The Glens site on the west side of Mountain Meadow Road
across from The Meadows condominiums.

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