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MBK HOMES PROMOTES MICHAEL N. SCHMIDT TO VICE PRESIDENT OF OPERATIONS


IRVINE, CA (October 4, 2005). MBK Homes has promoted Michael N. Schmidt to Vice President of Operations for Southern California. Mr. Schmidt will oversee three departments reorganized under his supervision: Construction, Purchasing, and Customer Satisfaction. New directors for each department will report directly to Mr. Schmidt, and departments such as Safety, Quality Control, Scheduling and Options will also fall under his responsibility.

"Mike's hard work and expertise has been instrumental to the success of MBK's residential development," said Tim Kane, president of MBK Homes. "He has led our Customer Service and Construction team to a 95% satisfaction rating and a #1 national rank in the Eliant survey. Customer satisfaction is our top priority at MBK, and Mike has been integral in establishing our superlative track record in this vital area."

Throughout Mr. Schmidt's 14-year tenure with MBK Homes, his roles have also included Vice President of Construction, Director of Construction, and Project Manager. Prior to joining MBK, he also worked for Premier Homes, Inco Homes and Griffin Homes. Altogether, Mr. Schmidt brings to his new position more than twenty-five years of construction experience within the residential development industry.

"Since I began working at MBK, we have held to three simple goals: to create impeccable houses, to deliver on time for our buyers, and to offer gracious hospitality," said Mr. Schmidt. "Maintaining our commitment to those goals is my top priority in my new position. Additionally, I aim to continue our great success in customer service and to reemphasize our dedication to efficiency and growth."

Mr. Schmidt holds a contractor license and is currently a member of the Building Industry Association (BIA), Association of General Contractors (AGC) and the National Association of Home Builders (NAHB).

Company Background
MBK Homes is active in the development of both attached and detached housing product, catering primarily to first-time and first and second move-up homebuyers throughout California. MBK Homes prides itself on its award winning customer satisfaction and its reputation for delivering quality housing that is innovative in design, comfort and craftsmanship, all at an excellent value. MBK Homes Southern California builds residential neighborhoods in Los Angeles, Orange, Riverside and San Bernardino counties. MBK Homes Northern California focuses its efforts in the Sacramento market and its six surrounding counties. For more information, please contact MBK Homes Northern California at 916.783.1150, MBK Southern California at (888) 943-HOME or visit the company's website at www.mbkhomes.com.
MBK Homes is a division of MBK Real Estate Ltd., the U.S. real estate development arm of Mitsui & Co., Ltd., one of the world's largest corporations. MBK Real Estate's multidisciplinary concerns span a wide spectrum of real estate development, including homebuilding, retail and senior housing divisions.

MBK Real Estate Ltd. is headquartered in Irvine, CA, with regional offices in Portland, OR and Sacramento, CA. 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 www.mbk.com.

Posted on October, 4th 2005

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