Hunt Companies Inc

For Immediate Release

For more information contact:
Charlotte Kraenzle 703-664-0862

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

October 10, 2007


U.S. AIR FORCE, PINNACLE, AND HUNT COMMENCE REDEVELOPMENT OF HOUSING AT SIX AETC BASES
Pinnacle and Hunt assume operation of 2,503 family homes at Columbus, Laughlin, Randolph, Goodfellow, Maxwell, and Vance Air Force Bases

Randolph AFB, Texas – Pinnacle Hunt Communities, LLC officially assumed operations and management of family housing at six Air Education and Training Command (AETC) bases today, after the U.S. Air Force and Pinnacle Hunt finalized the family housing redevelopment plan. Pinnacle Hunt will operate and manage Columbus Air Force Base, Miss.; Laughlin Air Force Base, Texas; Randolph Air Force Base, Texas; Goodfellow Air Force Base, Texas; Maxwell Air Force Base, Ala.; and Vance Air Force Base, Okla. for the next 50 years. Pinnacle Hunt Communities, LLC is a joint venture between Pinnacle AMS Development Company, LLC of Irvine, Calif. and Hunt Development Group of El Paso, Texas.

Approximately $287 million in private sector debt and equity will be spent during a five-year initial development period to construct 324 new, Energy Star efficient homes, demolish 628 homes, and renovate 1,374 existing homes. In total, the project will include 2,199 homes for Air Force families. Construction of new homes will begin immediately; the first new homes will be delivered to military families in the fall of 2008. Community enhancements include the addition of new community centers, tot lots, biking paths, jogging trails, and play courts.

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. Flintridge Partners of Irvine, Calif. will provide project management services. The new homes will be designed by Gile-Buck Architects of Boise, Idaho. PBS&J of Dallas will offer civil engineering and landscape design services.

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; Barksdale Air Force Base in Louisiana; Langley Air Force Base in Virginia; Bolling Air Force Base in Washington, D.C; Fort Lee in Virginia; Scott Air Force Base in Illinois; and Nellis Air Force Base in Nevada.

Interested subcontractors are encouraged to complete and submit an online application at http://www.huntbuilding.com/sba.sstg.

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 completed or is currently building/developing over 82,000 housing units, of which 65,000 are military family homes. Currently, Hunt has completed military housing projects in 38 states, representing more military family housing projects in the United States 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.