February 18, 2005 - EAGLES NEST SELLS EIGHT LOTS FIRST DAY OF SECOND LOT RELEASE

FOUNTAIN HILLS, Ariz. (Feb. 18, 2005) – Eagles Nest, the 244 custom lot community located northeast of Scottsdale, Ariz., has announced that eight custom lots were sold at an average sales price of $524,300 on the first day that an additional 30 custom lots were made available to the public. All eight lots sold included a full golf membership at FireRock Country Club, valued at $60,500.

“The fact that eight lots were sold the very first day the 30 lots became available is a true testament to the desire for premium custom homesites and to the high quality Eagles Nest offers,” said Steve Vargo, vice president of MCO Properties, the developer of Eagles Nest. “Plus, lot owners can now benefit from the partnership between Eagles Nest and FireRock Country Club, one of the Valley’s premier private country clubs.”

The lots in this gated community all measure one acre or more, and offer some of the most dramatic mountain and desert views in the Valley, including views of the Four Peaks, McDowell, Superstition, Goldfield and Mazatzal mountain ranges.

“We’re excited about the public’s positive reaction to our second release of lots,” added Vargo. “Since November, there have been a total of 50 lots that have closed or that are in escrow, which shows that just in the last few months, we’ve had great response.”

ABOUT EAGLES NEST

Located in the foothills of the McDowell Mountains in Fountain Hills, Ariz., Eagles Nest spans more than 500 acres and features only 244 custom residential lots – each measuring one acre or more in size. For further information on Eagles Nest, please call (480) 837-1005 or visit www.eaglesnestliving.com. Custom homesites at Eagles Nest are priced from the $500,000s to $1.5 million. Sales by MCO Realty, Inc.