PRESS RELEASE

March 2008

W-HOA! A BRIGHT OUTLOOK FOR SERRANO
Homeowners can be proud of their award-winning association

The Serrano El Dorado Owners' Association has been named "Association of the Year" for 2007 by the California North Chapter of the Community Associations Institute (CAI).

It is the top award bestowed by the CAI, honoring the community association in Northern California that demonstrates the highest standards of excellence and service to its homeowners.

This award truly assures Serrano's residents that they made the best decision when choosing Serrano as their home. People living in the community can count on a quality environment and outstanding homeowner benefits.

The award marks the second consecutive year that the Serrano association has been recognized for its successes. In 2006, the CAI named Serrano "Best-Maintained Association" for its excellence in landscaping and overall community maintenance.

"Serrano was chosen as Association of the Year because of the exemplary efforts of their Board and community association manager to achieve their vision, as well as for their support of our industry," says Marti Wallace, Executive Director of CAI. "The Serrano association excels in customer service, member education and involvement within the community."

Serrano El Dorado Owners' Association's vision is "to serve our members by keeping their community an exceptional place to live and own property, through our quality maintenance of the common grounds, fair and consistent application of the community standards, and courteous, professional communications".

The recent award is also reflective of Serrano's enduring value to its 3,700 homeowners.

"As members of the association, Serrano's owners get the attention and benefits of a staff of 70 professionals with a commitment to excellence in maintenance, security and responsive service," says John Bowman, general manager of Serrano El Dorado Owners' Association. "Serrano homeowners can be secure in knowing that their community will be managed in accord with the quality that they purchased."

For up-to-date information on Serrano and its award-winning homeowners association, visit www.serranoeldorado.com.