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Bayside Golf Course Construction Complete

OCEAN VIEW, DE. November 19, 2004 – Carl M. Freeman Companies today announced 100% completion of the construction of their Jack Nicklaus Signature Golf Course at Bayside, a master-planned community near Fenwick Island, Delaware.

Mr. Nicklaus reviewed the final construction phase of his waterfront Signature Golf Course after visiting the Bayside location where the course is being built. During this visit, Mr. Nicklaus approved the final shaping of the holes, the unique pot-bunker sand traps and reviewed the grassing and seeding of the final holes on the course.

“Golfers at Bayside will enjoy three distinctly different golf experiences all in one golf course,” said Jack Nicklaus, golf course designer. “Some holes will be richly tree-lined, others will wind through beautiful marshland and still others will boast wide-open fairways.”

The course will be semi-private offering a limited number of memberships as well as daily use play. The over 7,000 yard championship length course will offer multiple sets of tees for all skill levels. Dramatic landforms and bunkering along with a variety of turf grasses framing the greens will make this course unique in the area. It is expected to open in the Summer of 2005.

“We're celebrating a milestone achievement with the completion of the construction phase of our golf course at Bayside today,” said Tom Tipton, general manager of Carl M. Freeman Golf. “Having the course completed now allows the course to mature through the winter season preparing it for tremendous growth next spring and ultimately, the grand opening next summer.”

Bayside is a master-planned community located off Route 54 just west of Fenwick Island, Delaware. It will feature a Jack Nicklaus Signature Golf Course and consist of a mix of home types and a variety of high-end recreational amenities. Its unique town center will host both retail and office space. Designed with over 50% open space, it favors the protection of natural resources on the 867 acre property.

“Bayside is the most exciting golf resort community we have designed to date and our customers agree -- with over 300 homes sold since June,” said Joshua M. Freeman, president of Carl M. Freeman Companies. “There is nothing else like it. No other community offers the variety of choice in home types, home styles, amenities and locations that is available at Bayside.”

Carl M. Freeman Communities has been developing resort communities on Delmarva for more than 30 years, building more homes at the shore than any other homebuilder. The name has become synonymous with responsible development, highest quality and lasting value.

The Bayside sales office, located on Route 54 just west of the Route 20 intersection, is open seven days a week from 9:00 AM - 5:00 PM. They can be reached by calling 1-877-436-9998. Information is also available on-line at www.livebayside.com.

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