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United Mobile Homes, Inc. Slated to Join Russell 3000 Index


FREEHOLD, N.J., June 16 /PRNewswire-FirstCall/ -- United Mobile Homes, Inc. (Amex: UMH) will join the Russell 3000 Index when the broad-market index is reconstituted June 30, according to a preliminary list of additions issued by Frank Russell Company. Index membership will go into effect July 1 and will remain in place for one year. Membership in the Russell 3000 means automatic inclusion in either the large-cap Russell 1000 Index or small-cap Russell 2000 Index.

Samuel A. Landy, President of UMH, stated, "United Mobile Homes, Inc. is proud of its record of earnings growth and dividend growth. Inclusion in the Russell 2000 Index is a new milestone for our company."

Membership in Russell's 21 U.S. equity indexes is determined primarily by market capitalization rankings and style attributes. Russell indexes are widely used by managers for index funds and as benchmarks for both passive and active investment strategies. About $250 billion is invested in index funds based on Russell's indexes and an additional $850 billion is benchmarked to them. Investment managers who oversee these funds purchase shares of member stocks according to that Company's weighting in the particular index.

Annual reconstitution of the Russell indexes captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000. The largest 1,000 companies in the ranking comprise the Russell 1000 Index while the remaining 2,000 companies become the widely used Russell 2000 Index.

United Mobile Homes, Inc. is a publicly owned real estate investment trust whose primary business is the ownership and operation of manufactured home communities, leasing manufactured home spaces to private manufactured home owners, and leasing homes to residents. UMH owns over 6,000 sites in a total of 26 communities located in New York, New Jersey, Pennsylvania, Ohio and Tennessee. In addition, the Company owns a portfolio of REIT securities. United Mobile Homes, Inc. has been in operation since 1968, operating as a public company since 1985.

Russell, global leaders in multi-manager investment services, provides investment products and services in more than 35 countries. Russell manages $67 billion in assets and advises clients worldwide representing U.S. $1.6 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Washington, with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo. For more information, go to

SOURCE  United Mobile Homes, Inc.
    -0-                             06/16/2003
    /CONTACT:  Rosemarie Faccone or Susan Jordan, United Mobile Homes, Inc.,
    /Web site: /
    /Web site: /

CO:  United Mobile Homes, Inc.; Frank Russell Company; Northwestern Mutual
ST:  New Jersey, Washington

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7106 06/16/200313:49 EDT

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