February 9, 2005 - EAGLES NEST ANNOUNCES SECOND RELEASE OF LOTS

UNTAIN HILLS, Ariz. (Feb. 9, 2005) – Eagles Nest, the 244 custom lot community located northeast of Scottsdale, Ariz., announced today that it has released an additional 30 custom lots. Forty-two lots were sold in the initial release of 56 lots, with an average sales price of more than $459,000.

“Buyers responded positively to the beauty, breathtaking views and one-of-a-kind lifestyle Eagles Nest has to offer,” said Greg Bielli, president of MCO Properties, the developer of Eagles Nest. “Because of the demand, we’re excited to release more of our custom homesites.”

Buyers who are interested in the lots, which measure one acre or more, have the chance to select from 30 new custom lots. The lots in this gated community offer some of the most dramatic mountain and desert views in the Valley, including views of the Four Peaks, McDowells, Superstition, Goldfield and Mazatzal mountain ranges.

“We’re pleased that Eagles Nest has become one of the most sought-after custom home communities in the Valley,” said Bielli. “We’re looking forward to continuing to provide interested buyers with more lot choices in this extraordinary development.”

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.