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United Mobile Homes, Inc. Closes on a New Line of Credit

07/01/2004

FREEHOLD, N.J., July 1 /PRNewswire-FirstCall/ -- On June 30, 2004, United Mobile Homes, Inc., (Amex: UMH) announced that it has established a $15,000,000 revolving line of credit with PNC Bank. This facility is for an initial three-year period, extendable for an additional year at the end of each year, and is collateralized by four of our Ohio manufactured home communities. Borrowings are at an interest rate of prime.

Samuel A. Landy, President, stated, "This credit facility has been put in place to finance acquisitions and expansions and for other general corporate purposes. We're happy to establish this relationship with PNC Bank."

United Mobile Homes, Inc., is a publicly-owned REIT, owning and operating twenty-seven 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-                             07/01/2004
    /CONTACT:  Rosemarie Faccone or Susan Jordan, +1-732-577-9996, both of
United Mobile Homes/
    (UMH)

CO:  United Mobile Homes, Inc.; PNC Bank
ST:  New Jersey, Ohio
IN:  RLT FIN
SU:  FNC

MR 
-- PHTH039 --
4082 07/01/200416:02 EDThttp://www.prnewswire.com

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