United Mobile Homes, Inc. Reports Year-End Earnings

03/31/2005

FREEHOLD, N.J., March 31 /PRNewswire-FirstCall/ -- United Mobile Homes, Inc. (Amex: UMH) reported net income of $8,202,000 or $0.95 a share for the year ended December 31, 2004, as compared to net income of $8,518,000 or $1.08 a share for the year ended December 31, 2003 (restated).

    A summary of significant financial information for the years ended
December 31, 2004 and 2003 (restated), and for the quarters ended December 31,
2004 and 2003, is as follows:

                                             For the Years Ended December 31,
                                                                 (restated)
                                                        2004           2003

    Total Revenues                               $34,358,000    $33,791,000
    Total Expenses                               $26,177,000    $23,329,000
    Net Income                                    $8,202,000     $8,518,000
    Net Income Per Share                               $0.95          $1.08
    Weighted Average Shares Outstanding            8,599,000      7,859,000


                                      For the Three Months Ended December 31,
                                                        2004           2003

    Total Revenues                                $8,683,000     $8,916,000
    Total Expenses                                $6,878,000     $6,682,000
    Net Income                                    $1,817,000     $2,239,000
    Net Income Per Share                               $0.20          $0.28
    Weighted Average Shares Outstanding            9,085,000      7,996,000

Samuel A. Landy, President, stated, "United had an excellent year in 2004. It marked United's 13th consecutive year of dividend growth. United is very proud of its long-term track record of dividend payments. Management hopes to continue our positive trend in 2005 barring any unforeseen developments. Although net income was higher in the previous year, this was due to greater realized gains on securities transactions as well as greater interest and dividend income. Our securities available for sale were substantially less this year and therefore generated less income. United has substantial funds to invest and will continue to do so in a conservative manner."

United Mobile Homes, Inc., a publicly-owned real estate investment trust, owns and operates twenty-seven 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-                             03/31/2005
    /CONTACT:  Rosemarie Faccone or Susan Jordan, both of United Mobile Homes,
Inc., +1-732-577-9997/
    (UMH)

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





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9943 03/31/200515:00 ESThttp://www.prnewswire.com