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UMH Properties, Inc. Announces Offering of Series A Cumulative Redeemable Preferred Stock

05/18/2011

FREEHOLD, N.J., May 18, 2011 /PRNewswire/ -- UMH Properties, Inc. (NYSE Amex: UMH) today announced the launch of an underwritten public offering of 1,000,000 shares of the Company's Series A Cumulative Redeemable Preferred Stock, under an existing shelf registration statement. The underwriters are expected to be granted a 30-day over-allotment option to purchase up to an additional 150,000 shares of the Company's Series A Cumulative Redeemable Preferred Stock. The Company will apply to list the shares of Series A Preferred stock on the NYSE Amex.

The proceeds of the offering are to be used for acquisitions and other general corporate purposes, including possible repayment of indebtedness.  The sole bookrunning manager for the offering is J.P. Morgan Securities LLC. Co-managers for the offering are CSCA Capital Advisors LLC, KeyBanc Capital Markets LLC, and Sandler O'Neill + Partners, L.P.

UMH, a publicly-owned REIT, owns and operates thirty-five manufactured home communities located in New Jersey, New York, Pennsylvania, Ohio and Tennessee.  In addition, the Company owns a portfolio of REIT securities.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. Any offer of the securities will be made only by means of a prospectus, forming part of the effective registration statement, the applicable preliminary prospectus supplement and other related documents. Copies of the prospectus and the prospectus supplement, subject to completion, relating to these securities may be obtained from J.P. Morgan Securities LLC. You should direct any requests to J.P. Morgan Securities, LLC, 383 Madison Avenue, New York, New York, by phone: 212-834-4533, or by fax: 212-834-6081. You may also obtain a copy of the prospectus and the prospectus supplement, subject to completion, and other documents the Company has filed with the Securities and Exchange Commission for free by visiting the Commission's Web site at http://www.sec.gov.

Certain statements included in this press release which are not historical facts may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, the Company can provide no assurance those expectations will be achieved.  These risks include, among others, changes in the general economic climate, increased competition in the geographic areas in which the Company operates, changes in government laws and regulations and the ability of the Company to continue to identify, negotiate and acquire properties on terms favorable to the Company. Additional information concerning these and other factors that could cause actual results to differ materially from those forward-looking statements is contained from time to time in the Company's SEC filings, including, but not limited to, Item 1A. Risk Factors of the Company's Annual Report on Form 10-K for the year ended December 31, 2010. Copies of each filing may be obtained from the Company or the SEC. Consequently, such forward-looking statements should be regarded solely as reflections of the Company's current operating plans and estimates. Actual operating results may differ materially from what is expressed or forecast in this press release. Except as otherwise required by applicable securities law, the Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date these statements were made.

SOURCE UMH Properties, Inc.

Contact: Susan M. Jordan, +1-732-577-9997

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