PLANTATION HOMES—LATEST ADDITION TO RIVER'S EDGE—TO BUILD ENERGY-SAVING HOMES
Two model homes to be constructed by early December—

Richmond, Texas – September 2, 2004 – Planned Community Developers, Ltd. (“PCD”), has announced that Plantation Homes will be among the Energy Star homebuilders who will build in River's Edge, a new 370-acre community located in Richmond, Texas.

River's Edge, located on the west side of FM 359, just north of U.S. 90A, will also feature homebuilders, David Weekley Homes, Perry Homes and Newmark Homes. Perry Homes and David Weekley Homes have four model homes under construction and are located on FM 359 allowing easy access and high visibility for the model home park.

" Plantation Homes is a top-notch, experienced homebuilder with a strong management team and an outstanding reputation for providing creative home designs and value to homeowners," said Glenn Howard, Senior Vice President of Planned Community Developers. “The addition of Plantation Homes to our newest community is part of our strategy to further implement the Energy Star program into our community that will, in turn, benefit homebuyers."

Energy Star is a government-backed program helping businesses and individuals protect the environment through superior energy efficiency. Energy Star qualified homes are independently verified to be at least 30% more energy efficient than homes built to the 1993 national Model Energy Code or 15% more efficient than state energy code, whichever is more rigorous. These savings are based on heating, cooling, and hot water energy use.

River's Edge will be comprised of 930 single-family, Energy Star homes and 17 acres of commercial property. The first phase of River's Edge will feature approximately four subdivisions: River Bluff, River Bend, River Falls and Lake Bridge Estates. River's Edge amenities include a recreation center featuring swimming-pool facilities, a party barn, a playground and five acres of sports fields. Additional elements include a nature walk in a forested park along the Brazos River , and three man-made lakes spanning a total of 28 acres. Home prices will range from $140,000 to the $500,000s.

"We are very excited to offer our designs in River's Edge," said Nicky Lockhard, Plantation Homes Division President. "We were attracted to the River's Edge development because of Planned Community Developer's leading position in the residential and commercial real estate market." "We are confident that our collection along with the amenities and location of this master-planned community will be well-received by new homebuyers."

Plantations Homes offers its award-winning collection of designs priced from $190,000 to $210,000s. The builder has a great selection of one and two-story designs ranging in size from 2,400 to over 3,300 square feet. The two models that will be built at River's Edge will be the one-story model, the Legend; and the two-story model, the Delancy.

Planned Community Developers, Ltd . ("PCD") is the development manager for Sugarland Properties Incorporated and the 9,700-acre First Colony master-planned community in Sugar Land , Texas , located southwest of Houston . PCD is also currently developing two major projects; River's Edge a new 370-acre community in Richmond, Texas and Lake Pointe Town Center, a 190-acre, mixed-use development at the intersection of U.S. 59 and Highway 6. PCD continues to oversee the phased development of the 32-acre Sugar Land Town Square , located at the intersection of U.S. 59 and Highway 6. Phase One of Town Square is near completion and includes a 300-room full-service Marriott hotel and conference center, a new 82,000 square-foot City Hall for Sugar Land , 167 mid-rise residential units, 150,000 square feet of office space, upscale Main Street retail and restaurants, and a 1.4-acre pedestrian plaza. The next phases of development will include 500,000 square feet of Class A office space, 120,000 square feet of retail space and is projected to be completed in 3 to 5 years.