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ORLANDO, FL - April 25, 2000 - ZOM Development, Inc. is pleased to announce the commencement of construction at The Arbors at Carrollwood located on Ehrlich Road, just west of Dale Mabry. The Arbors at Carrollwood is a 478-unit luxury-housing community consisting of 88 single-family homes and 390 apartments.

The community is designed in the classic neo-traditional format, including a unique town center, garden apartments, and single-family homes, buffering our Carrollwood Springs neighbors to the west. The housing options at this community will appeal to a broad range of residents, including young professionals, families and empty nesters. This luxury community loaded with amenities, including two pools, spa, toddler pool, playground, gated access, gym, aerobics instruction, tennis, business center and grill room. In addition, the finishes inside the units include Roman tubs, loft plans, built-in entertainment centers, security systems, garages, high-speed Internet service, generous windows and spacious floor plans.

Greg West, the Development Manager for Carrollwood, explains, "Walker and Company was awarded the contract for the construction of the community." Walker has been in Florida for over 25 years and has completed over 20,000 apartments during that period. According to West, "The first single-family homes will be available for leasing in winter 2000."