Fieldstone Appoints C. Alan Arthur President and Chief Operating Officer

IRVINE, CA--(Marketwire - Aug 10, 2011) - C. Alan Arthur has been appointed President of FNE Holdings, LLC (FNE), the parent company of the Fieldstone Group of Companies (Fieldstone). The announcement was made by William H. McFarland, Chief Executive Officer of FNE.

"Alan has served in a variety of senior management roles during his 20-year career with Fieldstone, and has managed almost every area of residential development during both strong and challenging market conditions," said McFarland. "We are fortunate to have Alan's kind of business experience and expertise, as well as his high personal values and other positive individual qualities, and I am looking forward to him taking charge of the overall operational responsibilities for Fieldstone."

Since 2007, Arthur has been executive Vice President and Chief Financial Officer and during the past two years has assumed additional roles at Fieldstone, including the management of both the Utah and Texas operations. In his new role as President, Arthur will have direct responsibility for the operations of Fieldstone in California, Utah and Texas. He also retains many of his responsibilities as Chief Financial Officer.

"I know I speak for the entire board in sharing that we believe Alan's broad base of experience in both financial and operational management roles, his negotiating and deal-structuring skills and his other experience and talents are a perfect fit for the needs of Fieldstone today," said Peter Ochs, co-founder and chairman of the board of FNE.

"I am very honored and excited to be appointed to the position of President of Fieldstone. As I have assumed additional roles and responsibilities in recent years, during which both Fieldstone and the homebuilding industry have faced many challenges, it has become my passion to successfully manage Fieldstone through these difficult economic times and into a prosperous future," said Arthur.

"I am highly energized by this new role and look forward to continuing to work with Bill McFarland, Peter Ochs, and the Fieldstone Board as well as the other managers and staff at Fieldstone."

Prior to joining Fieldstone, Arthur was an audit manager and consultant with Price Waterhouse and Kenneth Leventhal & Co. Alan has also served on the boards for various non-profit organizations.

For more information about Fieldstone, visit www.fieldstone-homes.com.