Ashcroft Homes Corporation Announces Additions to Its Board of Directors.

Business Editors

ENGLEWOOD, Colo.--(BUSINESS WIRE)--May 13, 2003

Ashcroft Homes Corporation (OTCBB:ASHC) announced today significant additions to its Board of Directors.

Recently appointed were Myles Bruckal, David Skudneski, John Chen, Christopher Scurto, Bruce Shugart and Joseph Oblas, joining Chairman Richard Dean. The directors will serve until the next annual shareholders' meeting or until they resign or are removed.

The new directors bring a wealth of experience and expertise to the Company. Mr. Bruckal is the president of Bruckal Properties, Inc., a private Colorado corporation that is active in real estate development in the United States and Canada. Mr. Skudneski is the president of A&A Retaining Walls, Inc., a private Colorado corporation that is engaged in the design and construction of stone and concrete structures. Mr. Chen is the owner of the Plum Creek Golf and Country Club in Castle Rock, Colorado. Mr. Chen is also the president of several companies specializing in land development for residential use. Mr. Scurto is the managing member of AirBlaster, LLC, a private Colorado company which provides high-speed internet access. Mr. Shugart is the president of Structural Associates Company, a private Colorado corporation that builds luxury homes in Aspen, Snowmass and Steamboat Springs, Colorado. Mr. Oblas is the president of Ashcroft Homes Corporation, and has been instrumental in the execution of the company's business plan since early 2002. It is hoped that these individuals will assist the Company in managing and exceeding the company's growth objectives.

Commenting on the new appointments, Chairman Richard Dean stated, "The addition of these professionals to our Board of Directors adds significant expertise in the decision-making process at Ashcroft, and I am very pleased to accept the support of these professionals."

Ashcroft Homes Corporation is a public company whose stock currently trades over the counter. Through its operating subsidiaries, the Company develops residential building lots and constructs primarily detached homes for the move-up, relocation and empty nester markets. The Company continues to expand its product base to include certain segments of multi-family residential and production homes. Ashcroft operates predominantly in Colorado Springs, Denver and Fort Collins. The Company and its predecessors have operated in Colorado for more than 20 years.

For additional information on the Company, please view its websites at ashcrofthomes.com and tesorohomes.com.

Certain statements contained herein and subsequent oral statements may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are identified by words such as "intends," "anticipates," "believes," "expects" and "hopes" and include, without limitation, statements regarding the Company's plan of business operations, future revenues and operations and anticipated transactions. Factors that could cause actual results to differ materially include, among others set forth in the Company's filings with the SEC, the following: acceptability of the Company's services in the market place, interest rates, receipt of additional working capital, general economic conditions, competition and decisions of third parties over which the Company has no control. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking statements. Except as otherwise required by applicable securities statutes or regulations, the Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise.