PRESS RELEASE

San Jose Mercury News / Sunday New Homes
February 16, 2003

THERE'S A LOT TO SEE AT SERRANO IN EL DORADO HILLS

New home community is easy visit for Bay Area visitors on the way to Tahoe

Serrano, the prestigious golf course community in El Dorado Hills, has introduced several new neighborhoods in the last few months and with so much to see, Bay Area visitors are finding it worth their while to stop as they travel to Lake Tahoe. Serrano is located only two minutes off of Highway 50, in the rolling Sierra foothills just 20 minutes from Sacramento.

The new neighborhood openings provide the 3,500-acre master planned community with a remarkable range of home choices and prices. Serrano now has 36 model homes to tour, hundreds of homesites - many with panoramic views of the snow-capped Sierra Nevada, Folsom Lake and city lights - and more than 50 floorplans to choose from.

The homes by a variety of nationally and locally recognized builders are base priced from the low $300,000s to the $600,000s and range from approximately 1,750 to 4,900 square feet.

Previously awarded the "National Community of the Year" by the National Association of Home Builders' NSMC, Serrano also has custom homesites priced from the mid $100,000s, with a new incentive program for custom lot buyers.

Serrano offers 1,000 acres of open space dotted with mature heritage oak trees and miles of hiking and biking trails. Neighborhood parks are located in each of the gated villages. The private Serrano Country Club and golf course is a popular focal point for many of Serrano's residents. In addition, the community's elementary, middle and high schools, which are on-site and nearby, offer a level of education that is virtually unsurpassed, as school test scores tend to be among the highest in the state.

While Serrano's natural beauty and completed amenities are appealing to its residents, so is the community's location which is agreeably close to shopping, conveniences and recreation.

"With Lake Tahoe only 90 minutes away, this location is ideal for ski enthusiasts," says Jill Shannon, director of sales and marketing for Serrano. "Residents can easily enjoy the snow and the scenery of the mountains for the day, then come back to the mild climate of the foothills. And for summertime recreation, Serrano is only 10 minutes from Folsom Lake with its fabulous boating and beaches. This area is ideal for recreation activities of all types."

More New Neighborhoods to Open Soon

Serrano's newest neighborhood to grand open is "Montara" by US Home, located just south of Serrano Country Club. "Villa Bella" by Centex Homes is slated to grand open in the upcoming weeks in the same village. Warmington Homes, JTS Communities and Lucas & Mercier/Standard Pacific will open in new villages later in 2003.

"It's an exciting time at Serrano with so many new communities opening this winter and spring," says Shannon. "The selection of home designs is unprecedented, from family homes to golf course residences and custom homes. And with prices from the low $300,000s, buyers are astounded at the home values. Some discover that they can purchase three times the home that they could afford in the Bay Area."

Serrano's country club area features custom homesites on which buyers may build their own dream home. Many offer spectacular views; others are nestled in wooded areas with mature Oak trees. Custom homesites ranging from 1/3 to more than one acre are priced from the mid $100,000s.

Serrano has just introduced a new incentive program for its custom lot division, offering 0% interest for 1 to 2 years, 0 points with 25% down on select custom lots. Plus the developer will pay for a country club social membership for the buyer (upon application and approval) with the purchase of a custom homesite.

There are also luxurious custom estate-style homes, some completed and ready for immediate move in, priced from the $800,000s to $2.25 million, ranging up to approximately 10,000 square feet.

Family-oriented lifestyle; career opportunities

Many of Serrano's buyers are taking advantage of the available jobs in the Sacramento area, with a number of high tech companies - Intel is just 10 minutes away - as well as industrial and commercial firms nearby. Some residents continue to work in the Bay Area, either by commuting or telecommuting.

Buyers who seek to relocate their Bay Area businesses may take advantage of the 890-acre business park in El Dorado Hills, offering space for research and development, light industrial and technology related companies. The business park, which currently houses 200 companies and 6,000 employees, can accommodate a variety of square footage needs.

Serrano's home tour includes these new neighborhoods:

Regalo by John Laing Homes: from the mid $300,000s;
Thornhill by Woodside Homes: from the mid $300,000s.
Montecito by Lucas and Mercier Development: from the high $300,000s;
Villaggio by D.R. Horton: from the high $300,000s;
Montara by US Home: from the low $400,000s;
Inverness by Woodside Homes: from the low $400,000s;
Laureate II by US Home Corporation: from the low to mid $400,000s;
Sierra Vista by Pacific Mountain Partners: from the mid $400,000s (includes lot);
Quintessence/The Summit by JTS Communities: from the high $400,000s;
Montage by Warmington Homes: from the high $400,000s;
Tesoro by John Laing Homes: from the low $500,000s;
Montellago by Woodside Homes: from the low $500,000s.

NOW OPEN FOR PRE-SALES AND PREVIEWS:

Villa Bella by Centex Homes: from the low $300,000s

Serrano's Visitor's Center is open 9 a.m. to 5 p.m. Mon. - Fri. and 10 a.m. to 5 p.m. Sat. and Sun. Models are open 10 a.m. to 5 p.m. daily. For more information, call toll free 888-458-9739 or visit www.serranoeldorado.com.