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Patrick Malloy Communities Recognized with the Atlanta Business Chronicle’s Pacesetter Award for the Second Consecutive Year

The Company also Recognized by Professional Builder Magazines
Giant 400

Atlanta , May 3, 2007 –Patrick Malloy Communities once again received the distinguished Atlanta Business Chronicle’s Pacesetter Award for its performance in 2006. The award recognizes the 50 fastest growing privately held companies in metro Atlanta. This was Patrick Malloy Communities’ third appearance on the notable list and the second consecutive year the company was recognized. Patrick Malloy Communities was also on the prestigious list of Professional Builder Magazines Giant 400 Homebuilders for 2007.
Patrick Malloy Communities closed out 2006 as one of the area's largest home builders, setting a company record for the third consecutive year. In 2006, Malloy closed on more than 400 single-family homes and townhouses with total revenue for the year of $79.8 million. Those figures represent a 59 percent growth in closings and an 87 percent growth in revenue over a two year period.

"We are truly flattered to once again have our Patrick Malloy Communities appear on these prestigious lists,” said Patrick Malloy, the company’s founder. “Given the highly competitive nature of Atlanta’s business community this is not an easy recognition to achieve and I would like to thank our team of dedicated professionals who continually work to outperform the market. “

Malloy added, “Our expectation is that the momentum for company growth will continue in 2007 is we have significantly increased our resources with the addition of Michael Quinley as CEO, and our expansion into additional joint ventures in land acquisition and development.”

Quinley joined Patrick Malloy Communities earlier this year from Cousins Properties, Inc., where he served as Senior Vice President, General Manager of the Land Division. He brings more than 12 years of experience in residential development to his position with Patrick Malloy Communities. Quinley’s focus as CEO for Patrick Malloy Communities is to manage the operations and focus on strategic growth.

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. In recent years the company has grown its development division through land purchases, joint ventures and the development of lots for sale to third parties or internally to its own homebuilding division. This year, Patrick Malloy Communities is adding two new communities to its current developments at: Princeton Lakes in South Fulton County and Waterford in Forsyth County.

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. For more information about Patrick Malloy Communities, visit online at: www.pmcommunities.com.