United Mobile Homes, Inc. Reports Six-Month Earnings

08/14/2003

FREEHOLD, N.J., Aug. 14 /PRNewswire-FirstCall/ -- United Mobile Homes, Inc. (Amex: UMH) reported net income of $3,770,000 or $0.49 a share for the six months ended June 30, 2003, as compared to $3,372,000 or $0.45 a share for the six months ended June 30, 2002.

A summary of significant financial information for the three months and six months ended June 30, 2003 and 2002 is as follows:

                                            Three Months Ended June 30,
                                                 2003           2002

     Rental and Related Income               $5,226,000$5,008,000
     Net Income                              $1,967,000$1,520,000
     Income Per Share                             $0.25$0.20
     Weighted Avg. Shares Outstanding         7,761,000      7,590,000

                                            Six Months Ended June 30,
                                                2003           2002

     Rental and Related Income              $10,376,000$9,995,000
     Net Income                              $3,770,000$3,372,000
     Income Per Share                             $0.49$0.45
     Weighted Avg. Shares Outstanding         7,727,000      7,570,000

United Mobile Homes, Inc., a publicly owned real estate investment trust, owns and operates twenty-six manufactured home communities located in New Jersey, New York, Pennsylvania, Ohio and Tennessee. In addition, the Company owns a portfolio of REIT securities.

SOURCE  United Mobile Homes, Inc.
    -0-                             08/14/2003
    /CONTACT:  Rosemarie Faccone or Susan Jordan, both of United Mobile Homes,
+1-732-577-9997/
    (UMH)

CO:  United Mobile Homes, Inc.
ST:  New Jersey
IN:  RLT FIN
SU:  ERN


FB 
-- PHTH039 --
1878 08/14/200315:28 EDThttp://www.prnewswire.com