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SYLVANOAKS AT LADERA RANCH OPENS MODEL HOMES


LADERA RANCH, CA - September 18, 2002 -- MBK Homes has announced that the opening of its beautifully decorated model homes will take place on September 28th, 2002 at its highly anticipated single-family collection, SylvanOaks at Ladera Ranch. Offering just 69 homes this appealing neighborhood presents three different floor plan arrangements and a variety of architectural styles from which to choose. First phase sales are scheduled to begin in October 5th, 2002 when those who are members of MBK Homes' Very Important Buyers (VIB) program will receive priority over the general public to purchase their SylvanOaks home.

"We started the VIB program to give committed buyers the attention they deserve and to make that our sales process fair and streamlined," said Stefan Markowitz, president of MBK Homes. "After they complete a brief application, VIB members secure their position on our exclusive priority registry and become eligible to buy an MBK home. This program removes the anxiousness and the frenzy that often make new home sales very stressful. Instead, once a committed buyer decides they want to purchase here, they join the VIB program, secure a position on the list, and then receive priority over the general public when new phases are released for sale."

Presented in a varied array of architectural styles including Shingle, Cape Cod, Spanish Eclectic, Classic Colonial and European Cottage, SylvanOaks will offer two-story detached single-family designs with approximately 1,853 to 2,152 square feet, from three to five bedrooms, and two and one-half to three baths. Prices are anticipated to begin from the high $300,000s. "We've had a great deal of interest in SylvanOaks at Ladera Ranch," said Markowitz. "We strongly encourage interested shoppers to visit on September 28th, to see if this charming neighborhood is right for them and become a VIB member. SylvanOaks offers a remarkable value and a great opportunity to own a quality-built MBK home within one of Orange County's most desirable master-planned communities."

Presenting only 69 homes SylvanOaks will be a very intimate neighborhood where a sense of community and friendliness will be felt as neighbors spend time in the front of their homes on cozy porches. Inside, the thoughtfully designed floor plans are highlighted by large family rooms, kitchens with the newest conveniences, comfortable bedrooms and inviting master suites.

Ladera Ranch is a naturally scenic, 4,000-acre master-planned community located east of Mission Viejo in South Orange County. Ladera Ranch is projected to include a variety of 8,100 homes within distinctive villages and two mixed-use districts, both consisting of intimate neighborhoods. Among the amenities available and planned for Ladera Ranch are sites for schools, places of worship, child care centers, two shopping plazas, an 85-acre mixed use business center, as well as such recreational and social amenities as neighborhood and community parks, a regional Sports Park, several village club facilities, miles of neighborhood pathways, and approximately 1,600 acres of surrounding ridgelines and arroyo open space traversed by regional trails. A major facilitator for community connectedness for Ladera Ranch is the installation of a community network and high speed fiber optic infrastructure providing quick and easy in-home access to a broad range of high-speed interactive voice, video and on-line service, including a community-wide Intranet known as LaderaLife.

With its keen attention to detail, MBK Homes Ltd. is dedicated to delivering superior craftsmanship in every home it builds. Strengthened by the reputation and financial stability of its' parent company, Mitsui & Co., Ltd., MBK Homes is committed to providing its customers with the best value their homebuying dollar can buy and to building homes to last a lifetime.

MBK Homes continues to expand its homebuilding activities in some of Southern California's most desirable locations. MBK neighborhoods include: Wisteria in The Corona Valley, Saratoga at Hillcrest in Castaic, Heritage and Traditions at The Oaks in Murrieta, Berkeley in Brea, SylvanOaks in Ladera Ranch, Serrano in Rancho Cucamonga, Inverness at Vista Del Verde and HighPointe at Eagle Glen, San Abella at Westridge Valencia and Altoliva in the Valencia area. For more information on any of these communities, please call (888) 943-HOME or visit the company's website at www.mbkhomes.com.

Posted on September, 18th 2002

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