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United Mobile Homes, Inc. Announces New Acquisition

03/03/2004

FREEHOLD, N.J., March 3 /PRNewswire-FirstCall/ -- United Mobile Homes, Inc. (Amex: UMH), a Maryland corporation, announced the acquisition by its subsidiary, United Mobile Homes of Pennsylvania, Inc., a Pennsylvania corporation, of Bishop's Mobile Home Court and Whispering Pines Community, in Somerset Township, Pennsylvania.

Bishop's Mobile Home Court is an existing family community consisting of 124 lots, which is located next to Whispering Pines Community, a 55-and-older community consisting of 15 existing home sites and 60 acres to expand. UMH will rename Bishop's Mobile Home Court as Somerset Estates. The purchase price was approximately $3,500,000.

This acquisition increases the number of home sites owned by United Mobile Homes, Inc., and its subsidiaries to almost 6,300 in twenty-seven communities located in New York, New Jersey, Pennsylvania, Ohio and Tennessee. The Whispering Pines Community requires engineering and county approvals to expand, but could conceivably consist of as many as 300 home sites built over a 10-year period.

Samuel A. Landy, President of United Mobile Homes, Inc., expressed his enthusiasm over the purchase of this latest manufactured home community, citing its proximity to the Pennsylvania Turnpike and some of Pennsylvania's more desirable ski areas as an attractive and convenient place to live.

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. United Mobile Homes, Inc. has been in operation since 1968, operating as a public company since 1985.

SOURCE  United Mobile Homes, Inc.
    -0-                             03/03/2004
    /CONTACT:  Rosemarie Faccone or Susan Jordan, United Mobile Homes, Inc.,
+1-732-577-9996/
    (UMH)

CO:  United Mobile Homes, Inc.; United Mobile Homes of Pennsylvania, Inc.
ST:  Maryland, Pennsylvania, New Jersey
IN:  RLT FIN
SU:  RLE


MZ 
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5540 03/03/200413:03 ESThttp://www.prnewswire.com

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