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Patrick Malloy Communities Reports its Third Year of Record Growth –
The Company Ends 2006 with More Than $79 Million in New Home Sales

Atlanta , January 9, 2007 – Patrick Malloy Communities, greater metro Atlanta ’s most innovative and active homebuilder, reports its third consecutive year of record home building and sales. Patrick Malloy Communities closed on more than 400 homes in 2006, surpassing the previous year’s total closings by more than 28 percent.

“It was a dynamic year of growth for new homes sales for our company,” said Patrick Malloy, President of Patrick Malloy Communities. “Despite reported softness in other city’s and even among some segments of the market in Atlanta , our company continued to enjoy strong home sales. We contribute our ongoing success to our ability to deliver a well-built home at an exceptional value in some of the area’s most sought-after communities,” explained Malloy.

“Today’s new home buyers want detail in finishes and homes with character that are in distinguished neighborhoods,” explains Malloy. “People are interested in more desirable living spaces that provide comfortable family gathering places, manageable maintenance, and most important -- a community that provides traditional neighborhood amenities such as sidewalks, homes with porches, and an overall sense of community.”

During 2006 Patrick Malloy Communities reported $79,850,000 in new home sales and closings. The company closed on 404 single family homes and townhomes with an average selling price of $198,000 per home. The company also opened two new communities: The Landings and The Cottages at Brookmont in Douglas County . Patrick Malloy Communities also completed new home sales at Ridenour in Cobb County , and Mirror Lake and Anneewakee Trails in Douglas County . For 2007 Patrick Malloy Communities will add two new communities to its current developments at: Princeton Lakes in South Fulton County and Waterford in Forsyth County .

About Patrick Malloy Communities

Patrick Malloy Communities is among the most active builders in the metropolitan Atlanta area, having built homes in several master planned communities including: Monarch Village, Summergrove, Avery Park, Canterbury , City Square , Mirror Lake , Anneewakee Trails and Ridenour. The Company is also a key home builder at Harmony on the Lakes in Cherokee County , StoneBridge in Coweta County , and is actively building in Mill Pond in Carroll County , Brookmont in Douglas County , and Union Crossing, The Lakes at Cedar Grove, and Providence Place all in South Fulton . The Company was recognized with the distinguished Atlanta Business Chronicle’s Pacesetter Award for its performance in 2005. The award recognizes the 50 fastest growing privately held companies in metro Atlanta . Patrick Malloy Communities was also named to Builder Magazine’s 2005 Fast Track list of homebuilders nationwide.

Following both his father and grandfather into the homebuilding business, Malloy purchased the family owned business in 1994. Under his direction, the firm was restructured and the focus shifted to building in master planned communities. Patrick Malloy Communities strives to provide high quality homes to young professionals and families at affordable prices.

Homes built by Patrick Malloy Communities offer exceptional features and fine details usually reserved for higher-priced homes. These features often include spacious rooms; arched entryways; vaulted and trey ceilings; quality name brands; and nine foot ceilings on the main story. Architectural details and a variety of materials help define the distinctive home exteriors. Intricate care is taken to ensure a quality home at an affordable price. For more information visit: www.pmcommunities.com.