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MBK HOMES PLANS FOR NEW SOUTHERN CALIFORNIA NEIGHBORHOODS IN 2003
Builder Ranks #1 in Overall Customer Satisfaction for Southern California


IRVINE, CA - January 22, 2003 - After recently being ranked Number One in Overall Customer Satisfaction in Southern California based on the National Survey Systems move-in surveys for the six months ending September 30, 2002, MBK Homes looks forward to a busy 2003! With a strong presence throughout the Inland Empire, Los Angeles and Orange Counties, MBK Homes has gained prominence and respect and has been invited to build in some of the most prestigious master-planned communities in Southern California including Ladera Ranch, Westridge in Valencia and Vista del Verde. In fact, in the last several years MBK Homes is one of the few builders who have increased their market share in Orange County.

New for 2003 are several MBK neighborhoods offering more Southern California families the opportunity to live in stylish, architecturally distinctive, well built and very desirable MBK homes. In Santa Clarita MBK is introducing two collections of single-family homes with approximately 1,800 to 2,300 square feet priced from the mid $300,000s. Altoliva at Tesoro del Valle in Santa Clarita and San Abella at Westridge in Valencia will both open models in spring of 2003.

Two other new neighborhoods coming in 2003 include a collection of 175 larger, upscale townhomes in the community of Amerige Heights in Fullerton. Pricing is anticipated to start in the mid to high $300,000s. Another collection in Ontario with easy access to the 10 freeway calls for two-story single-family homes with approximately 2,000 to 3,100 square feet and pricing anticipated from the $300,000s.

With collections throughout Southern California, MBK is currently selling three neighborhoods in Orange County. These collections include: Inverness at Vista Del Verde in Yorba Linda, single-family homes priced from the high $500,000s with up to 2,900 square feet; Berkeley Collection in Brea, two and three-bedroom townhomes priced from the high $200,000s with up to 1,385 square feet, SylvanOaks at Ladera Ranch, single-family homes priced from the high $300,000s with up to 2,152 square feet.

In the Inland Empire Serrano at Rancho Etiwanda is now selling offering up to six bedrooms and up to 3,980 square feet with prices beginning in the high $300,000s.

MBK Homes has worked hard to strategically manage its Southern California expansion over the past several years, carefully choosing how and where to build its neighborhoods, locating its new collections in some of the most sought-after communities in the region.

"We've always been very selective about the neighborhoods in which we choose to build," said Stefan Markowitz, president of MBK Homes. "Location is one of the most important criteria a homebuyer should consider. That's why we research each potential location carefully before deciding to build there. We want to ensure that our homebuyers will have access to those important attributes that contribute to a location's desirability: schools, recreation, shopping, transportation, and employment."

Strengthened by the reputation and financial stability of its parent company Mitsui & Co., Ltd., MBK Homes has established itself as a well-respected mid-size regional homebuilder. In 2001 MBK Homes sold 326 homes, the company's best year to date.

"MBK Homes is in the unique position of benefiting from the strong financial backing of a multi-national organization combined with the hands-on expertise of our local professional homebuilding staff," said Markowitz. "This delicate balance is a tremendous asset and brings us the best of both worlds. The ultimate beneficiaries are our customers."

MBK has devised another way to measure its success by tracking the demand for its neighborhoods. As MBK has grown and become more visible, demand has increased. As a result, MBK established its Very Important Buyer (VIB) Registry, an exclusive priority registry for serious buyers at MBK neighborhoods. The VIB Registry allows MBK to focus attention on committed buyers, ensuring a fair and more streamlined sales process by eliminating stress-inducing campouts and lotteries. Learning more about the program or becoming a member is an easy process via the company's website at www.mbkhomes.com.

For more information on any of MBK Homes communities, please call (888) 943-HOMES or visit the company's website at www.mbkhomes.com.

Posted on January, 22nd 2003

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