Hunt Companies Inc

For Immediate Release
September 28, 2007


Contact:
Charlotte Kraenzle
Pinnacle
703-664-0862

Stephanie Sierra (915) 533-1122
Public Relations and Corporate Communication Manager
Hunt Development Group

PINNACLE AND HUNT ASSUME OPERATION AND MANAGEMENT OF 3,568 HOMES

WASHINGTON - BLB Family Housing, LLC officially assumed operation and management of a total of 3,568 family homes at Barksdale Air Force Base, La.; Langley Air Force Base, Va.; and Bolling Air Force Base, Washington, D.C., today, after the U.S. Air Force and BLB Family Housing finalized the family housing redevelopment plan. BLB Family Housing, LLC is comprised of Pinnacle AMS Development Company, LLC of Irvine, Calif., and Hunt Development Group of El Paso, Texas. This redevelopment effort represents the largest Air Force housing privatization project to date.

Approximately $750 million in private sector debt and equity will be spent during a seven-year initial development period to develop and construct 1,753 new homes and renovate 362 historically significant homes. In total, the project will include 3,189 homes for Air Force families. Construction will commence immediately; the first new homes for military families will be delivered in the fall of 2008.

“We’re honored to have the opportunity to serve the military families at Barksdale, Langley, and Bolling,” said M. Scott Orrantia, managing director, Pinnacle Development. “And we’re focused on providing these families the quality in housing, amenities, and services they deserve.”

Pinnacle will provide co-development and property management services. Hunt will provide co-development, and asset management services. Hunt affiliate, Hunt Building Company will provide design-build services. MVE & Partners, Inc. of Irvine, Calif. and Gile-Buck Architects of Boise, Idaho will provide architectural services, and EDAW of Irvine, Calif. will provide land planning and landscape design for the communities. In addition to this project, Pinnacle and Hunt are working together to develop, build, and operate military family housing at Dover Air Force Base in Delaware, Fort Lee in Virginia, Scott Air Force Base in Illinois, and Nellis Air Force Base in Nevada.

About Pinnacle
Pinnacle AMS Development Company, LLC (dba Pinnacle Development) and American Management Services Company (dba Pinnacle) provide a full complement of real estate investment, management and development services. Pinnacle Development specializes in large, multifamily, privatized military housing, and mixed-use developments. Pinnacle is a national leader in third-party fee management, managing a portfolio of apartment, office, and industrial assets valued at more than $12.5 billion, with over 3,100 employees in 42 states and 266 cities. Pinnacle’s multifamily portfolio consists of over 140,000 units – of which more than 17,000 are military family homes - including 56 General Officer Quarters for the U.S. Air Force, Army and Navy. For more information, visit www.pinnacle-development.net and www.pinnaclerealty.com.

About Hunt
Hunt Development Group, LP is an affiliate of Hunt Building Corporation. Founded in 1947, Hunt Building Corporation and its affiliated companies provide a full range of development, design-build, construction management, investment, and asset/property management services across the country with a focus in public-private ventures, military housing, mixed-use, master-planned communities and retail. The companies have been headquartered in El Paso and operated by the Hunt family for four generations. Hunt has developed or constructed over 73,000 housing units, of which 56,206 are military family homes. Currently, Hunt has completed military housing projects in 38 states, representing more military family housing projects in the U.S. than any other entity. Other Hunt affiliated companies are Hunt Building Company, Hunt Communities, HBC Property Managers, Hunt NR, and Hunt Administrative Services. For more information, visit www.huntcompanies.com.