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BROOKFIELD HOMES SOUTHLAND SELECTED 'BUILDER OF THE YEAR 2003'

December 19, 2003 - PASADENA, CA — Jeffrey Prostor and his team are trendsetters in the homebuilding industry, one of many reasons the Building Industry Association of Southern California (BIA/SC) selected Brookfield Homes Southland as its 2003 Builder of the Year at BIAs 37th Annual Awards and Installation Dinner on Friday, December 5, 2003, at The Ritz-Carlton, Pasadena.

'As the first Builder of the Year to be nominated by a BIA/SC council, the award represents the best of the best in our industry, and there is no one more deserving than Jeff Prostor and Brookfield Homes Southland,' said Richard Lambros, executive vice president BIA/SC. 'He is an exceptional industry leader with a commitment to building innovative quality homes in California.'

With 28 years of experience in the business, Prostor and his team have become a recognized leaders in the homebuilding industry, setting trends year after year. Under his guidance, Prostor has built Brookfield Homes Southland into a highly creative and dynamic homebuilding team that is acknowledged throughout California.

Describing his position in the speech he gave Friday, Prostor likened it to the hood ornament of a luxury car. 'Its as if those of us fortunate enough to lead our companies are looking across its expansive hood,' he said. 'While seeing the Jaguar cat, or hood ornament, that leads the direction of the car, it is apparent that without stellar engineering, reliable and predictable power, tight brakes and proper suspension, the hood ornament could not move in a forward motion,' said Prostor.

'The hood ornament symbolizes my position at Brookfield Homes Southland,' said Prostor. 'But it is what lies beneath its hood that makes the automobile run so well. That is, the hard work and dedication of an incredibly talented team that keeps me and our company performing at the top of our game, neighborhood after neighborhood, year after year.'

'There is a saying on our office wall that reads: When we all think alike-no one is thinking, Prostor said. 'This thought is one that describes our culture at Brookfield Homes Southland. At our core, we focus and remain committed to operational excellence, product innovation and the customer experience. And we believe that progressing and achieving in each of these areas require different thinking,' said Prostor.

Currently, Brookfield Homes Southland is developing 18 neighborhoods in Orange, Los Angeles and Ventura counties, as well as in Oahu, Hawaii, encompassing nearly 700 homes. Additionally, Prostors team is introducing a lifestyle program to two of their newest neighborhoods, The Strand in Newport Coast and Citrus in Irvine, called Brookfield Indulgence. The program is designed to focus on modern living; assisting homeowners with the events of everyday life. Brookfield Homes Southland is also forging new opportunities in the custom-home market, as well as urban infill, resort and university housing.

Its no secret that Prostor has become a high-tech pioneer. Dedicated to community development, homebuilding expertise and industry innovations like converting traditional wood framing to steel framing, Prostor continues to set standards in the homebuilding industry. He was the first in Orange County to select a wiring system, years ago, allowing homebuyers access to sophisticated digital technology in communication and entertainment systems. In addition, Prostors strong interest in the power of technology has translated into Brookfield Homes Southlands adoption of advanced, computer-based marketing and operations systems, including progressive Internet and wireless capabilities.

'While I know many of us work hard to foster and promote a team environment in our companies-for us-it is nothing short of the fabric of our culture,' said Prostor. 'This award is a testament to the passion, commitment and unwavering pursuit of excellence shared by the 169 men and women of Brookfield Homes Southland and our unbelievable extended team of consultants and trade partners who share our values and remain up for the challenges we place before them as we continuously look to stretch, if not redefine, the envelope in all that we do,' said Prostor.

Brookfield Homes Southland is independently and locally operated with offices in the greater Los Angeles/Orange County area, and is part of one of North Americas largest home building companies, Brookfield Homes Corporation. The parent company also has community development and homebuilding operations in the San Francisco Bay Area, San Diego area, Virginia and Maryland. Listed on the New York Stock Exchange, Brookfield Homes Corporation is a public company.