SOURCE: Grand Homes

August 11, 2005 10:30 ET

Grand Homes Announces New President

Stephen Brooks Moves to CEO Position as Edward Toole III Takes the Role of President

DALLAS, TX -- (MARKET WIRE) -- August 11, 2005 -- Grand Homes today announced the promotion of Edward D. Toole III to the position of president. Stephen Brooks formerly held that role and will now serve as chief executive officer. Having worked with Brooks and Grand Homes since 1987, Toole's promotion is a natural progression for the leadership roles he has held within the company.

As president, Toole, the former executive vice president and chief financial officer, will now assume an expanded role in daily operations with the overall vision directed at business growth and development. He will join Brooks in an overall agenda of company expansion. With Toole taking the day-to-day operations under his wing, Brooks will now focus his attention on regional strategic growth and marketing opportunities.

"Ed's philosophies, principles and commitment to excellence have contributed immeasurably to Grand's mission," said Stephen H. Brooks, CEO, Grand Homes. "He has been with me from the beginning and has played a huge role in the success we've achieved. We have much more to do, and with his leadership and guidance, we will continue our forward progression, striving for excellence in home building."

Toole's experience includes overseeing acquisition and development of sites for single-family home construction with Grand Homes; negotiating and managing relationships with lenders for lines of credit; overseeing and executing sales agreements; and overseeing accounting and administrative functions. He has served as executive vice president and CFO for the past 15 years.

"This is a welcomed opportunity, and I am committed to achieving tangible growth for this company," said Toole. "I appreciate the dedication of all the team members who have helped make my advancement possible, and I look forward to continuing my work with Mr. Brooks. This is a strong company, and we are committed to continue striving for excellence as a leader in the industry."

Nationally recognized, Grand Homes is the largest privately held homebuilder operating exclusively in the Dallas/Fort Worth metroplex. Established in 1986 by Stephen H. Brooks, Grand Homes is an award-winning leader in the home-building industry with innovative architectural designs in over 45 communities.

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