ZOM Development, Inc. Selected as

N.A.H.B. Multifamily Development Firm of the Year

ORLANDO, FL - April 18, 1999 - ZOM Development, Inc. was honored last Saturday night at the 20th annual "Pillars of the Industry" awards gala where they received the prestigious "Multifamily Development Firm of the Year" Pillars Award. The Pillars Awards is the multifamily industry's most competitive and coveted national awards competition. Winners are selected from among the nation's top firms. The awards pay tribute to multifamily housing professionals in development, management and marketing.

The Multifamily Development Firm of the Year is awarded to the firm that has excelled in multifamily development and has made significant contributions to the apartment industry on a national, regional and local basis. ZOM's particular accomplishments in the area of quality product development, resident satisfaction and untarnished lender relationships were cited as some of the reasons for selection. ZOM has previously won eight Pillars Awards for projects it has developed, including "Best Garden Apartment" in 1996 and 1997, and was a finalist for three other Pillars in this year's competition.

ZOM has developed over 5,000 apartments in Florida and currently has over 2,000 units in various stages of development throughout the state, including Orlando, Tampa, Naples, Boca Raton, Coral Springs and Miami.

ZOM's President and CEO, Steve Patterson, stated that the award had particular importance because it was judged by peers, and the competition represented what he considered to be some of the best development firms in the U.S. Patterson praised the efforts of all ZOM employees for their hard work and their level of commitment that has brought ZOM its continued success and eligibility for this award.