February 11th, 2008

PLANNED COMMUNITY DEVELOPERS WELCOMES VICE PRESIDENT OF RETAIL

Developers of First Colony Bring Aboard Industry-Veteran Charlie Adams to Oversee Retail Leasing

SUGAR LAND, TX (February 11, 2008) – Planned Community Developers, Ltd. (PCD), award- winning developers that specialize in community master-planning and high-quality retail and office development, today announced the addition of Charlie Adams as vice president of retail.

In his new capacity, Adams will manage the retail leasing operations for Sugar Land Town Square, a 32-acre lifestyle development, and Lake Pointe Town Center, a 190-acre, mixed-use suburban village, both located in Sugar Land, Texas.

“Charlie is a seasoned professional with a great deal of experience and expertise in the retail industry,” said Les Newton, president of PCD.  “He will no doubt be a great asset to our team and we are excited to welcome him aboard.”

Adams is a 35-year veteran in the shopping center industry.  Most recently, he was a retail partner at Peacock Properties, Inc. where he was responsible for the development and leasing of retail projects for the firm. Prior to joining Peacock Properties, Inc. Adams served as senior vice president and manager of the Commercial-Retail Division of Henry S. Miller Commercial Co. Houston.  Adams also served as vice president of retail for PCD, formerly Sugarland Properties Inc., from 1990-1997.

During his former association with PCD, Adams was responsible for the development and leasing of in excess of 1.4 million square-feet of retail space in First Colony Commons, The Market at Town Center, Sweetwater Plaza and Colony Square shopping centers and was directly responsible for lease negotiations with more than 25 national and regional anchor tenants.

“I am excited to have the opportunity to work with PCD again,” said Adams.  “I believe wholeheartedly the developments here are second to none.”