TOM BAUM WILL HEAD OPERATIONS OF BOZZUTO HOMES, INC. AND BOZZUTO DEVELOPMENT COMPANY

Greenbelt, MD...Tom Baum has been named President of Bozzuto Homes, Inc. He assumes the responsibility of overseeing the successful homebuilding operation while retaining his position as President of Bozzuto Development Company.

While both companies will benefit from Mr. Baum’s vast expertise and direction, each will retain its distinct business focus: BHI will continue to develop for-sale residential communities and BDC will continue to concentrate on the development of new apartment projects.

“Tom possesses tremendous development knowledge and is a recognized leader in the multifamily industry,” said Rick Mostyn, a founding partner and COO of The Bozzuto Group companies. “His direction of our apartment development operations has been exceptional -- we have increased our presence in this market and also expanded into new metropolitan markets. Tom’s strong leadership skills and proven track record make him a natural to assume these additional responsibilities.”

Tom Baum joined Bozzuto Development Company in 2001 and was named president in April 2003. That same year, Bozzuto Development Company was recognized with NAHB’s prestigious Pillars of the Industry Award for Multifamily Development Firm of the Year.

A registered architect, Tom earned an undergraduate degree in Architecture from the University of Illinois and a master’s degree in Real Estate Development from Columbia University. He also attended the National Academy of Architecture in Versailles, France.

Established in 1988, The Bozzuto Group provides a broad range of real estate services -- including development, management, homebuilding, landscaping, construction, and mortgage services -- for third party owners as well as its own account. The firm, its principals and operating companies have been the recipients of scores of prestigious honors and awards including the national Pillars of the Industry Awards for Multifamily Development Firm of the Year (2003), Property Management Company of the Year (2000) and Multifamily Builder of the Year (1998). The Bozzuto Group is headquartered in Greenbelt, MD. For more information, please visit www.bozzuto.com.