Monday, November 28, 2005

Commute, my @ss!!!

Here is a Toll Brother Press Release. You folks out on the West coast may read and believe this bit about commuting to DC, but I did the commute from Frederick to DC for a short spell. It was 2 hours. This "commute" is longer!!!!

The real commute isn't to work. It's to see the grand kids, keep in touch with old friends, have family visit you. While living in a real estate market that has a wonderful life style and ONE THIRD the cost of DC. ONE THIRD the cost. One the weekends this drive is less than 1 hour. If you didn't have to work, because you were retired. Would you sell that bloated house in DC for $850,000 and buy one here for under $300,000?

This is the migration. This is how the home builders will survive in a deflating real estate market.

Source: Toll Brothers, Inc.

Toll Brothers Enters West Virginia Market
HORSHAM, Pa., Nov. 28, 2005 (PRIMEZONE) -- Toll Brothers, Inc. (NYSE:TOL) (www.tollbrothers.com), the nation's leading builder of luxury homes, today announced its entry into West Virginia's Martinsburg market. The move represents a further expansion of Toll Brothers' strong presence in the Washington, D.C., metropolitan area, where the Company also operates in the Northern Virginia and Maryland suburbs.

Robert I. Toll, chairman and chief executive officer, stated: "Our presence in metro DC's luxury market will be enhanced by our expansion into Martinsburg, from which residents can commute to the robust employment centers on the way to and within Washington, D.C.

"We've been building in suburban D.C. for more than a decade and have established a significant brand name with communities ranging from master planned golf course communities to single-family estate and condominium product lines. With an already established contractor base, as well as a strong marketing network, we believe this expansion should be seamless and very successful."

Toll Brothers plans to offer a broad selection of its homes, from single-family homes to townhomes, in both individual luxury communities and master planned communities. Its first West Virginia community will be Martinsburg Station, a master planned community scheduled to open in early 2006. Located off Delmar Orchard Road in Martinsburg, Martinsburg Station will feature 895 homes in five distinctive single-family and townhome collections. Onsite amenities, such as a clubhouse/community center, swimming pool, tennis courts, and tot lots, are also planned.

West Virginia is linked to the major employment centers of the metro D.C. area, including the I-270 Technology Corridor in suburban Maryland and the Dulles Technology Corridor in suburban Virginia, by an excellent transportation network, including I-81 (north/south) and I-70 (east/west) and the MARC commuter train to downtown DC.

Toll Brothers, Inc. is the nation's leading builder of luxury homes. The Company began business in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange and the Pacific Exchange under the symbol TOL. The Company serves move-up, empty-nester, active-adult and second-home home buyers and operates in 21 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Illinois, Massachusetts, Maryland, Michigan, Minnesota, Nevada, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Texas, Virginia and West Virginia.

Toll Brothers builds luxury single-family detached and attached home communities, master planned luxury residential resort-style golf communities and urban low, mid- and high-rise communities, principally on land it develops and improves. The Company operates its own architectural, engineering, mortgage, title, land development and land sale, golf course development and management, home security, landscape, cable TV and broadband Internet delivery subsidiaries. The Company also operates its own lumber distribution, and house component assembly and manufacturing operations.

Toll Brothers, a Fortune 500 Company, is the only publicly traded national home building company to have won all three of the industry's highest honors: America's Best Builder from the National Association of Home Builders, the National Housing Quality Award and Builder of the Year. Toll Brothers proudly supports the communities in which it builds; among other philanthropic pursuits, the Company now sponsors the Toll Brothers -- Metropolitan Opera International Radio Network, bringing opera to neighborhoods throughout the world. For more information, visit tollbrothers.com.

Certain information included herein and in other Company reports, SEC filings, statements and presentations is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning anticipated operating results, financial resources, changes in revenues, changes in profitability, interest expense, growth and expansion, anticipated income from joint ventures and the Toll Brothers Realty Trusts Group, the ability to acquire land, the ability to secure governmental approvals and the ability to open new communities, the ability to sell homes and properties, the ability to deliver homes from backlog, the average delivered price of homes, the ability to secure materials and subcontractors, the ability to maintain the liquidity and capital necessary to expand and take advantage of future opportunities, and stock market valuations. Such forward-looking information involves important risks and uncertainties that could significantly affect actual results and cause them to differ materially from expectations expressed herein and in other Company reports, SEC filings, statements and presentations. These risks and uncertainties include local, regional and national economic conditions, the demand for homes, domestic and international political events, uncertainties created by terrorist attacks, the effects of governmental regulation, the competitive environment in which the Company operates, fluctuations in interest rates, changes in home prices, the availability and cost of land for future growth, the availability of capital, uncertainties and fluctuations in capital and securities markets, changes in tax laws and their interpretation, legal proceedings, the availability of adequate insurance at reasonable cost, the ability of customers to finance the purchase of homes, the availability and cost of labor and materials, and weather conditions.

CONTACT:
Toll Brothers, Inc.
Frederick N. Cooper
(215) 938-8312
fcooper@tollbrothersinc.com
Joseph R. Sicree
(215) 938-8045
jsicree@tollbrothersinc.com

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