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UMH Properties, Inc. Announces New Revolving Line of Credit


FREEHOLD, N.J., April 29 /PRNewswire-FirstCall/ -- UMH Properties, Inc. (Amex: UMH) announced that on April 28, 2008, it has closed on a revolving line of credit with Sun National Bank with a maximum availability of $10,000,000. This revolving line of credit has a maturity date of April 1, 2011 and is secured by the Company's eligible notes receivables. Interest under this new line is at the prime rate which is currently 5.25%.

Samuel A. Landy, President, stated, "We are very pleased with this new line of credit and believe that it is the beginning of a long and mutually beneficial relationship with Sun National Bank. This new financing gives us additional flexibility in servicing our customers."

UMH Properties, Inc., a publicly-owned real estate investment trust, owns and operates twenty-eight manufactured home communities located in New Jersey, New York, Pennsylvania, Ohio and Tennessee. In addition, the Company owns a portfolio of REIT securities.

SOURCE UMH Properties, Inc.

Contact: Rosemarie Faccone or Susan Jordan, +1-732-577-9997, both of UMH Properties, Inc.

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