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TIM KANE NAMED MBK HOMES' NEW PRESIDENT


IRVINE, CA - June 11, 2003 - MBK Homes has named Tim Kane its new president. A 16-year veteran of the Southern California homebuilding industry, Kane has served as MBK Homes' vice president of sales and marketing for the past seven years. He has been with MBK Homes since its inception, facilitating the company's growth by fulfilling many different roles, including project management and forward planning.

As he takes the helm as president, Kane will assume the new responsibilities of overseeing all operations for MBK Homes, ensuring that company employees share the same vision and goals, and managing company performance to achieve maximum results and profitability.

"Tim's vision and keen management style have been instrumental in MBK Homes' growth, market success, and industry recognition over the past several years," said Stefan Markowitz, president of MBK Real Estate. "Under his direction as vice president of sales and marketing, MBK Homes has seen our revenue grow by 56 percent over the past three years. Tim has instituted numerous programs that have facilitated this success, including the establishment of an in-house sales program which has increased profitability, communication and customer relations. We are very proud to name Tim our new president of MBK Homes."

Before joining MBK Homes, Kane managed an independent real estate consulting and appraisal company, which included MBK Homes among its clients. Previously, he served as director of land acquisition for Barratt American, where he was responsible for acquiring sites for residential construction throughout Southern California. Kane also co-founded the Mentor Group, a consulting group specializing in strategic planning for Fortune 500 companies.

Taking a leadership role in the building industry, Kane is also serving as the 2003 president of the Sales and Marketing Council of Southern California (SMC/SC) and was previously membership chairman of SMC/SC.

MBK Homes is a leader in the development of new-home communities in Southern California. The company's communities are located in Los Angeles, Orange, Riverside, and San Bernardino Counties, and future land acquisitions are planned throughout the region. While MBK Homes is considered a mid-size regional builder, the company is strengthened by the reputation and financial stability of its parent company Mitsui & Co., Ltd., the world's third largest computer and global leader. Additional information is available by calling (949) 789-8300 or visiting www.mbkhomes.com.



Posted on June, 11th 2003

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