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PCM Awarded Pulte Homes Contract for Solera at Oak Valley Greens

LAKE FOREST, Calif., May 24, 2004 — Professional Community Management (PCM), one of the nation’s largest managers of common interest developments (CIDs), announced today that it has been awarded an onsite management contract from Pulte Homes (NYSE: PHM) for its Del Webb project Solera at Oak Valley Greens. Solera, an active adult community located in Beaumont, Calif., had its first escrow closings in September 2003 and will have 1,350 units at build out with a combined real estate value of approximately $338,000,000.

“When it comes to the active adult market, no other homebuilder has the depth of knowledge possessed by Del Webb,” said Jeff Olsen, CEO, PCM. “And when it comes to managing active adult communities, no other company has as much experience as PCM – experience gained over 30 years with 22,000 homes and 22 communities in this category.”

With the addition of Solera to the PCM client roster, the company now manages three large-scale Pulte communities including Sun City Shadow Hills and Solera at Apple Valley. At the heart of Solera at Oak Valley Greens will be an exclusive fitness-oriented recreation lodge. The lodge will be approximately 18,500 square feet and will feature tennis courts, a pool and spa, multi-purpose rooms, indoor walking track and fitness equipment.

“It is with great excitement that we take on the responsibilities of serving homeowners onsite at Oak Valley Green,” said Russell Disbro, CEO, PCM. “This is a significant contract for PCM as it builds on our reputation in active adult communities, a high-growth market segment.”

About PCM

Over the past 30 years, PCM has become nationally respected as a leader in the management of family-oriented and active senior communities. In fact, PCM has been recognized by the Multi Housing Council as one of the country’s largest managers of common interest developments. PCM manages a portfolio of greater than 80,000 units in 170 community associations, representing a combined real estate value in excess of $25 billion. With headquarters in Lake Forest, Calif., PCM employs a staff of over 1,400 people. PCM has offices in Orange, San Diego, Riverside and Los Angeles Counties.

Management services are backed by state-of-the art Internet technology, including PCM’s innovative self-service community websites, and the most efficient, comprehensive financial and management systems in the industry today. For additional information, please contact PCM at 1-800-369-7260 or at www.pcminternet.com.

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