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United Mobile Homes, Inc. Reports Six-Month Earnings

08/09/2004

FREEHOLD, N.J., Aug. 9 /PRNewswire-FirstCall/ -- United Mobile Homes, Inc. (Amex: UMH) reported net income of $4,946,000 or $0.59 a share for the six months ended June 30, 2004, as compared to $3,770,000 or $0.49 a share for the six months ended June 30, 2003.

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

                                                 Three Months Ended June 30,
                                                     2004         2003

    Rental and Related Income                     $5,386,000   $5,226,000
    Net Income                                    $1,668,000   $1,967,000
    Income Per Share                                 $0.20        $0.25
    Weighted Avg. Shares Outstanding               8,481,000    7,761,000


                                                  Six Months Ended June 30,
                                                     2004           2003

    Rental and Related Income                    $10,731,000    $10,376,000
    Net Income                                    $4,946,000     $3,770,000
    Income Per Share                                 $0.59          $0.49
    Weighted Avg. Shares Outstanding               8,368,000      7,727,000

Samuel A. Landy, President, stated, "The six months results were excellent due to the Company taking advantage of the gains in our REIT securities portfolio. We recorded gains on securities available for sale of $2,134,000 for the six months ended June 30, 2004 as compared to $672,000 for the six months ended June 30, 2003."

United Mobile Homes, Inc., a publicly owned real estate investment trust, owns and operates 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-                             08/09/2004
    /CONTACT:  Rosemarie Faccone or Susan Jordan, United Mobile Homes, Inc.,
+1-732-577-9997/
    (UMH)

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

MZ 
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8844 08/09/200414:15 EDThttp://www.prnewswire.com

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