UMH Umh Properties Common Stock

United Mobile Homes, Inc. Reports Six-Month Earnings FREEHOLD, N.J., Aug. 9 /PRNewswire-FirstCall/ -- United Mobile Homes, Inc. (AMEX:UMH) reported net income of $4,946,000 or $0.59 a share for the six months ended June 30, 2004, as compared to $3,770,000 or $0.49 a share for the six months ended June 30, 2003. A summary of significant financial information for the three months and six months ended June 30, 2004 and 2003 is as follows: Three Months Ended June 30, 2004 2003 Rental and Related Income $5,386,000 $5,226,000 Net Income $1,668,000 $1,967,000 Income Per Share $0.20 $0.25 Weighted Avg. Shares Outstanding 8,481,000 7,761,000 Six Months Ended June 30, 2004 2003 Rental and Related Income $10,731,000 $10,376,000 Net Income $4,946,000 $3,770,000 Income Per Share $0.59 $0.49 Weighted Avg. Shares Outstanding 8,368,000 7,727,000 Samuel A. Landy, President, stated, "The six months results were excellent due to the Company taking advantage of the gains in our REIT securities portfolio. We recorded gains on securities available for sale of $2,134,000 for the six months ended June 30, 2004 as compared to $672,000 for the six months ended June 30, 2003." United Mobile Homes, Inc., a publicly owned real estate investment trust, owns and operates twenty-seven manufactured home communities located in New Jersey, New York, 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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