SOURCE: Woodbridge Holdings Corporation

November 13, 2008 17:41 ET

Woodbridge Holdings Corporation Anticipates a Listing Change

FORT LAUDERDALE, FL--(Marketwire - November 13, 2008) - Woodbridge Holdings Corporation (NYSE: WDG) announced today that, reflecting the unprecedented decline in the trading prices of shares of companies engaged in real estate related activities, Woodbridge's Class A Common Stock has fallen below the New York Stock Exchange's requirements for continued listing. Accordingly, Woodbridge anticipates that its Class A Common Stock will move off the New York Stock Exchange and instead be quoted on the OTCQX. Information on the OTCQX can be accessed via the OTCQX's internet website at www.OTCQX.com.

About Woodbridge Holdings Corporation

Woodbridge Holdings Corporation, directly and through its wholly owned subsidiaries, seeks to invest opportunistically within and outside the real estate industry. Historically, the Company's operations were primarily within the real estate industry; however, the Company's current business strategy includes the pursuit of opportunistic investments and acquisitions within or outside of the real estate industry, as well as the continued development of master-planned communities. Under this business strategy, the Company may not generate a constant earnings stream and the composition of the Company's revenues may vary widely due to factors inherent in a particular investment, including the maturity of the business, market conditions and cyclicality. Net investment gains and other income that may occur are to be driven by the Company's strategic initiatives as well as overall market conditions.

Core Communities, a wholly owned subsidiary, develops master-planned total-living community environments throughout the Southeastern United States, including its original and best known, St. Lucie West. The company's 8,200-acre Tradition™ Florida community is home to more than 1,700 families, vibrant commercial areas and a 4.5-mile-long employment corridor. The community is also home to the Florida Center for Innovation at Tradition (FCI) Research Park, in which The Torrey Pines Institute for Molecular Studies, Mann Research Center, Martin Memorial Health Systems and Oregon Health & Science University's Vaccine and Gene Therapy Institute have all announced plans to locate. Core is also expanding its Tradition™ brand with Tradition™ Hilton Head, an approximate 5,400-acre community planned to include 9,500 residences and 1.5 million square feet of commercial space, which features a variety of neighborhoods and housing styles, shopping and dining in Village Square, a Fitness Center & Spa and the Tommy Fazio-designed Tradition National Golf Course.

Cypress Creek Capital Holdings, LLC, a wholly owned subsidiary, is a real estate investment banking company. Cypress Creek Capital's acquisition program focuses on existing commercial income producing properties in Florida's growth markets. The company targets office, retail and industrial real estate.

Snapper Creek Equity Management, LLC is a wholly-owned subsidiary of Woodbridge Holdings Corporation focused on activities related to investing in and acquiring mid-market diverse operating businesses.

For further information, please visit our websites:
www.WoodbridgeHoldings.com
www.CoreCommunities.com
www.CypressCreekCapital.com
www.SnapperCreek.com

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Some of the statements contained herein include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve substantial risks and uncertainties. Some of the forward-looking statements can be identified by the use of words such as "anticipate," "believe," "estimate," "may," "intend," "expect," "will," "should," "seek" or other similar expressions. Forward-looking statements are based largely on management's expectations and involve inherent risks and uncertainties, including, without limitation, the risk that Woodbridge's Class A Common Stock may not be quoted on the OTCQX when expected, if at all. In addition to the risks and uncertainties set forth above, investors should also consider the risks and uncertainties discussed in Woodbridge's filings with the Securities and Exchange Commission, including, without limitation, the risks and uncertainties discussed under the heading "Risk Factors" in such filings.

Contact Information

  • Woodbridge Holdings Corporation Contact Information:
    Investor Relations:
    Leo Hinkley
    SVP, Investor Relations Officer
    Phone: (954) 940-4995
    Fax: (954) 940-5320
    Email: Email Contact