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Senior Vice President George Schader Hires Bill Derrick to Head Land Acquisitions in Los Angeles and Ventura Counties as MBK Homes Expands North and East.

IRVINE, CA - (April 11, 2005) Bill Derrick has joined California-based MBK Homes, a division of MBK Real Estate Ltd., as Director of Land Acquisitions for Los Angeles and Ventura counties. In his new post, Derrick will oversee acquisition for all projects in the two-county area. Derrick is based in the firm's new satellite office at 333 North Glenoaks Boulevard, Suite 500, in Burbank, CA.

"Bill comes to MBK Homes with extensive experience in selecting quality real estate development sites," said Schader. "His expertise in managing land acquisition transactions and understanding of the Southern California market will enhance MBK Homes' ability to expand residential development throughout the Los Angeles Basin, north into Ventura County, and east to high-desert communities in the coming years. We are particularly excited about Bill's expertise with urban infill projects."

"Having worked in the real estate development industry on the West Coast for a number of years, I have been involved in both master-planned and infill projects," said Derrick. "As MBK Homes enters the high-density marketplace in Los Angeles and expands its expertise in providing quality family homes, I believe my knowledge will serve MBK's plans for providing housing in urban centers, as well as traditional suburban settings. MBK has a reputation for quality in the home building industry, and I'm thrilled to be a part of such a forward-looking team of professionals."

Derrick comes to MBK Homes with more than 22 years of experience in managing and directing real estate acquisitions and development, as well as management and sales of multiple properties. Prior to joining MBK, Derrick served as Chief Land Acquisitions Manager for Arroyo Capital Advisors, a real estate development company that serves institutional and private investors. He also was Director of Operations for Markley Sterns Partners West Coast Division, an international real estate development firm, and Division President for Pacific Alliance Realty, a national real estate development firm. Derrick holds a Bachelor of Arts degree from the University of Texas at Austin.

He can be reached in the Burbank office at 818-556-6250, ext. 12, or by email at

Company Background MBK Homes is active in the development of new for-sale housing communities, comprised of both attached and detached housing product, catering primarily to first-time and first and second move-up homebuyers throughout Southern California. Through its "Better ways and Greater means," MBK Homes delivers quality housing that is innovative in design, comfort and craftsmanship, all at an excellent value. With more than a decade of experience constructing homes in Southern California, MBK prides itself on its ability to meet the needs of today's most discriminating homebuyers. Currently, MBK Homes is building residential neighborhoods in Los Angeles, Orange, Riverside and San Bernardino counties, and is aggressively pursuing additional land acquisitions throughout the Southland. For more information, please contact MBK Homes at (888) 943-HOME, or visit its Web site at

MBK Real Estate Ltd. and its four wholly owned subsidiaries, comprise the U.S. real estate development arm of Mitsui & Co., Ltd., one of the world's largest corporations. The company's core business activities include the acquisition, redevelopment and development of retail/entertainment properties, the development and sale of for sale housing and the development, acquisition and management of senior living properties.

MBK Real Estate Ltd. is headquartered in Irvine, CA, with regional offices in Portland, OR. Corporate offices are located at 175 Technology Drive, Irvine, CA 92618; phone 800.566.7100; fax (949) 789-9300; or visit its Web site at

Posted on April, 11th 2005

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