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Patrick Malloy Communities Named to Atlanta Business Chronicle’s List of 25 Top Home Builders
The Company Reports A Record Third Quarter with 23% Growth in Sales

Atlanta , October 19, 2005 – Patrick Malloy Communities, greater metro Atlanta ’s most innovative and active homebuilder, reports a record third quarter for growth with a 23% increase in sales for the first three quarters of 2005 compared to record sales in 2004.

“We attribute our ongoing success to our teams expert and professional abilities to find the most desirable communities for growth in metro Atlanta, and our unique approach to designing quality well-priced homes with architectural detail and design that meet today’s lifestyle preferences,” said Patrick Malloy, President of Patrick Malloy Communities.

In addition, the Company was recently named to the Atlanta Business Chronicle’s list of the Top 25 Homebuilders in Metro Atlanta.

For the first three quarters of 2005, the Company has sold 262 homes and has closed on 217 homes to date. New home sales for 2005 are over $40 million and the average new single family home selling price grew to $213,000 and the average townhome price was $139,000.

Malloy ascribes 2005’s continued record growth to several key factors: the Company’s core criteria for quality, location and amenities in selecting communities; innovative home plans; a design team that continually reviews home plans based on consumer input; and the ability to quickly adjust, or add new home plans to meet changing lifestyle preferences.

“We are committed to quality and attractive construction within an affordable price range. This quality construction is coupled with personal homeowner service that helps the customer throughout the process and guarantees satisfaction,” added Malloy. “As a metro Atlanta based company, we value our reputation and consider each homeowners’ satisfaction key to our company’s continued 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 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.