Signature Homes Increases Consortium Membership to 27

AUSTIN, Texas – May 9, 2001 Builder Homesite, Inc., the emerging builder-founded consortium for the new home market, today announced Signature Homes ranked 156th in the Hanley Woods Builder 400, has signed up as the 27th consortium member.

Builder Homesite is backed, endorsed and driven by a consortium of the nation’s premier homebuilders and focused on improving the home selection, buying and ownership experience through the use of online technologies. BHI products are being designed to provide consortium members with the benefits of new sources of revenue from an open, unbiased new home channel, reduced technology acquisition costs and the monetization of each builder’s home and community assets. The 27 consortium members represent over $38 billion in gross revenue for 2000 and build over 179,000 homes across the continental United States.

“It is very apparent that homebuilders like Signature Homes, as well as the other builder members, are going to be the major beneficiaries of Builder Homesite consortium activities,” said Richard Plaster, CEO of Signature Homes. “We believe we can play a key role and benefit from participation in the consortium.”

“Builder Homesite consortium members represent a powerful cross-section of the leaders in the homebuilding market,” said Tim Costello, President and CEO of Builder Homesite. “We are delighted to have Signature Homes as a member and look forward to having them become an active participant in defining the future products that are required to complete the digitization of the entire new home lifecycle.”

New Home Industry

According to Hanley Woods 2000 Builder 400 Report, the top 200 builders in the United States are responsible for over $56 billion dollars in revenue (Single Family Detached Homes) with over 320,000 closing annually. The members of the Builder Homesite consortium dominate this list and are responsible for over 50% of the homes built by the top 200 builders in the United States.

PaineWebber’s eBuilder Report states that builders effectively using the Internet could see profits per-home improving by up to 30% in the next ten years. Consumer use of the Internet during the home selection process is increasing — research studies show that 62% of all new home buyers already use the web for sources of information and service. Other research has revealed that over 85% of consumers will use or plan to use the Internet to shop for homes in the next two years.

About Signature Homes

Founded in 1978, Signature Homes is one of the oldest and largest homebuilders in Las Vegas, Nevada and is ranked 22 out of the top 100 privately owned businesses in the Las Vegas valley. In 1999, the Greater Las Vegas Association of Realtors honored Mr. Plaster with its prestigious “Home Builder of the Year” award.

About Builder Homesite, Inc. and NewHomeSource.com

Founded in Austin, TX in 2000 by a consortium of 32 of the nation’s largest homebuilders, Builder Homesite, Inc. (BHI) represents over 225,000 new home sales annually. BHI’s mission is to offer improved technology and marketing solutions for the new home industry. The first product by Builder Homesite is NewHomeSource.com, a consumer website offering the most comprehensive information and selection of new homes available on the Internet. Because of the extensive distribution network, more and more builders are making BHI their entry point into the Internet. By providing data to New Home Source, builders can also participate in BHI online partner channels, including Yahoo, eBay, CitySearch, Homegain, newspaper and realtor websites.

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• Eleanor Bowman
  (512) 413-5278