SILVERMAN DEVELOPMENT ANNOUNCES SALE
OF LONG LAKE VILLAGE TO CENTEX HOMES

By Jackie Perreca
July 6, 2005

(BINGHAM FARMS, Mich. July 6, 2005) - Construction will begin later this summer on Brandon Township's new Long Lake Village, a 67 acre mixed use development located on M-15, north of Seymour Lake Road.

The property, originally zoned for multi-family use, will include retail space and a lake front community featuring 93 single-family homes built by CENTEX HOMES. The 1,600 to 3,200 square foot homes will start in the mid-$200,000s and the entire development will be worth more than $35 million.

Approximately 15 acres will be donated to the North Oakland Headwaters Land Conservancy and additional conservation easements are being put in place to preserve the sensitive wetlands and woodlands on site.

"We are excited about this new community located in prestigious Brandon Township, and view this as a unique opportunity for residents to live in an up north setting, yet be minutes from shopping, fine dining, entertainment and all major freeways," said Steve Robinson, vice president of SILVERMAN DEVELOPMENT COMPANY. "This has been a three year cooperative effort - working closely with the Township - that has resulted in creating a environmentally sensitive development that will preserve significant natural features."

Plans for the commercial portion of the project are still being finalized.
Since 2001, SILVERMAN DEVELOPMENT COMPANY has been involved in developing more than 30 residential projects and over 5,000 single- and multi-family units across the Midwest. The company specializes in working closely with local municipalities to entitle properties for construction. With a focus on creating communities that preserve wetlands and natural amenities, all projects are constructed in harmony with the land. For more information, call (248) 540-6400 or visit www.silverman.com.

Centex Homes is a subsidiary of Dallas-based Centex Corporation, a $9 billion Fortune 500 company. The Detroit division is building in more than 20 neighborhoods throughout Metro Detroit. Many of their model homes can be viewed at these communities or via virtual tours online at www.centexhomes.com/detroit. The Detroit division of Centex Homes plans to open approximately eight additional communities this year in the Metropolitan Detroit area. For information on upcoming communities, please contact Centex Homes at (248) 233-8330.