TOA Tousa

ARLINGTON, Texas, June 6 /PRNewswire/ -- Wall Homes CEO and founder Steve Wall announced today that Wall has completed its purchase of substantially all the assets belonging to the Dallas Division of Newmark Homes, a subsidiary of TOUSA (NYSE:TOA). Assets include raw land, site developments, finished lots, and construction in progress. As a result, Wall's D/FW operations will jump from 11 active neighborhoods to 33. The expansion increases lots statewide under Wall Homes control by over 75 percent. "Adding control of over 3,000 lots -- many in coveted areas such as Frisco, Keller, Plano, and Prosper -- allows us to expand our business at a rapid rate," said Mr. Wall. Wall Homes was established in 2005 to offer homes with a focus on architectural style to discerning buyers. Neighborhoods throughout Dallas, Fort Worth, Houston, Austin, and San Antonio offer a variety of single-family detached and attached homes priced from the $120s to the $500s. Based in Arlington, TX, Wall Homes is on the web at http://www.wall.com/. TOUSA, Inc. is a leading homebuilder in the United States, operating in various metropolitan markets in 10 states located in four major geographic regions: Florida, the Mid-Atlantic, Texas, and the West. TOUSA designs, builds, and markets high-quality detached single-family residences, town homes, and condominiums to a diverse group of homebuyers, such as "first-time" homebuyers, "move-up" homebuyers, homebuyers who are relocating to a new city or state, buyers of second or vacation homes, active-adult homebuyers, and homebuyers with grown children who want a smaller home ("empty-nesters"). It also provides financial services to its homebuyers and to others through its subsidiaries, Preferred Home Mortgage Company and Universal Land Title, Inc. For more information on TOUSA, please visit our website at http://www.tousa.com/. This press release contains forward-looking statements including statements concerning the status of TOUSA's settlement discussions and risks associated with those discussions. Certain important factors may have affected and could in the future affect our actual results or our liability for the indebtedness of the Transeastern JV and could cause TOUSA's actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of TOUSA. The factors are outlined under the "Risk Factors" sections of TOUSA's Securities and Exchange Commission filings, including TOUSA's annual report on Form 10-K for the year ended December 31, 2006, filed with the Commission on March 20, 2007 and TOUSA's quarterly reports on Form 10-Q date filed with the Commission after such date. We do not undertake any duty to update any forward-looking statement. DATASOURCE: Wall Homes CONTACT: Erin Kolp of Wall Homes, +1-817-385-3225, Web site: http://www.wall.com/ http://www.tousa.com/

Copyright