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United Mobile Homes, Inc. Reports Nine-Month Earnings

11/09/2004

FREEHOLD, N.J., Nov. 9 /PRNewswire-FirstCall/ -- United Mobile Homes, Inc. (Amex: UMH) reported net income of $6,136,000 or $0.72 a share for the nine months ended September 30, 2004, as compared to net income of $6,084,000 or $0.78 a share for the nine months ended September 30, 2003.

A summary of significant financial information for the three months and nine months ended September 30, 2004 and 2003 is as follows:

                                              For the Three Months Ended
                                                 9/30/049/30/03

    Total Revenues                             $8,131,000     $8,834,000
    Net Income                                 $1,190,000     $2,314,000
    Net Income Per Share                            $0.14          $0.29
    Weighted Average Shares Outstanding         8,723,000      7,905,000


                                               For the Nine Months Ended
                                                 9/30/049/30/03

    Total Revenues                            $25,675,000    $24,875,000
    Net Income                                 $6,136,000     $6,084,000
    Net Income Per Share                            $0.72          $0.78
    Weighted Average Shares Outstanding         8,486,000      7,788,000

The decrease in net income for the three months ended September 30, 2004 as compared to the three months ended September 30, 2003 is due mainly to the Company recognizing fewer gains on securities available for sale transactions and recognizing a $454,000 loss on settled futures contracts during the third quarter for 2004. The third quarter results are not indicative of management's anticipated results for the quarter ending December 31, 2004.

United Mobile Homes, Inc., a publicly owned real estate investment trust, owns and operates 26 manufactured home communities located in New York, New Jersey, Pennsylvania, Ohio and Tennessee. In addition, the Company owns a portfolio of REIT securities.

SOURCE  United Mobile Homes, Inc.
    -0-                             11/09/2004
    /CONTACT:  Rosemarie Faccone or Susan Jordan of United Mobile Homes, Inc.,
+1-732-577-9997/
    (UMH)

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

PD 
-- PHTU039 --
6977 11/09/200415:02 ESThttp://www.prnewswire.com

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