UMH Umh Properties Common Stock

FREEHOLD, N.J., March 10 /PRNewswire-FirstCall/ -- United Mobile Homes, Inc. (AMEX:UMH) reported net income of $6,990,000 or $0.74 a share for the year ended December 31, 2005, as compared to $8,202,000 or $0.95 a share for the year ended December 31, 2004. A summary of significant financial information for the years ended December 31, 2005 and 2004, and for the quarters ended December 31, 2005 and 2004, is as follows: For the Years Ended December 31, 2005 2004 Total Revenues $39,340,000 $34,358,000 Total Expenses $32,393,000 $26,177,000 Net Income $6,990,000 $8,202,000 Net Income Per Share $0.74 $0.95 Weighted Average Shares Outstanding 9,473,000 8,599,000 For the Three Months Ended December 31, 2005 2004 Total Revenues $10,232,000 $8,683,000 Total Expenses $8,808,000 $6,878,000 Net Income $1,446,000 $1,817,000 Net Income Per Share $0.15 $0.20 Weighted Average Shares Outstanding 9,722,000 9,085,000 Samuel A. Landy, President, stated, "2005 marked UMH's 15th consecutive year of dividend growth. We are very proud of our long-term track record of dividend payments and hope to continue our positive trend in 2006 barring any unforeseen developments. In 2005, we experienced a net decrease in our gain on securities available for sales transactions of over $1,200,000. However, we experienced record sales of manufactured homes, increasing from $7,300,000 in 2004 to $12,400,000 in 2005. Given this sales volume, we are optimistic that the fundamental business of owning and operating our communities will improve. UMH has substantial funds to invest and will continue to do so in a conservative manner." United Mobile Homes, Inc., a publicly owned real estate investment trust, owns and operates twenty-seven manufactured home communities located in New York, New Jersey, Pennsylvania, Ohio and Tennessee. In addition, the Company owns a portfolio of REIT securities. DATASOURCE: United Mobile Homes, Inc. CONTACT: Rosemarie Faccone or Susan Jordan, United Mobile Homes, Inc., +1-732-577-9997

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