Bennett Homes Purchases 82 Cascadia Lots.

BONNEY LAKE, Wash. -- Bennett Homes, the Puget Sound region's two-time "Builder of the Year" award winner, has purchased 82 lots valued at approximately $12 million at Cascadia, the visionary, new planned community in Pierce County.

Bennett, a leading Northwest builder for more than 20 years, will continue its tradition of developing Built Green-certified homes at Cascadia. The certification stands for an environmental building program offering energy and water efficiency, healthier indoor air, durability and other benefits.

"We, at Bennett Homes, in partnership with Sumitomo Forestry Seattle, are extremely excited and proud to be chosen as one of the inaugural builder participants at Cascadia," said Todd Bennett, chairman of Bennett Homes. "As a long-time area builder, we are constantly seeking opportunities to participate in fantastic communities that are incomparable. We believe that Cascadia will be such a place."

Bennett will partner with Sumitomo Forestry Seattle on certain homes at Cascadia. The joint venture is known for introducing the "Feel Wood," accent package, inspired by the Japanese tradition of using natural wood in home interiors.

"Our partnership with Bennett Homes is evidence of the commitment by Sumitomo Forestry to the concept of 'East meets West,'" said Masanobu Nishikawa, general manager, Sumitomo Forestry Seattle. "We routinely endeavor to integrate the concepts of environmental responsibility and peaceful architectural design into our quality-of-life-sensitive homes. We are honored to participate in this extraordinary endeavor."

Bennett joins Centex Homes and Shea Homes in committing to Cascadia.

"Bennett is one of the Pacific Northwest's most respected builders and we're proud to have Todd Bennett and his team join our other premier builders at Cascadia," said Patrick Kuo, Cascadia's president and chief executive officer. "Bennett, Centex and Shea offer the highest quality and value, and all their homes will take the best advantage of Cascadia's natural beauty."

Kuo said Bennett's commitment is another strong indicator that Cascadia is living up to its vision of providing ideal living for individuals, families and businesses through a mix of housing, schools, parks, employment, recreation, cultural activities and more. Sumner School District announced in July that it will break ground on the community's first elementary school in spring 2007. Just last month, Cascadia selected award-winning designer John Harbottle III as the architect for Cascadia's first championship-quality, 18-hole golf course.

About Bennett Homes

Bennett Homes shares the same philosophy as famed Swiss architect, Le Corbusier, who said: "A home is a machine for living." Founded in 1984, Bennett Homes (www.bennetthomes.com) has built a solid reputation among homebuyers for superior quality, craftsmanship and its unique concept of "living architecture." The Master Builders Association of King and Snohomish Counties has honored Bennett Homes in 2003 and 2005 as "Builder of the Year," becoming one of only two builders to twice receive the prestigious award. In addition to active membership in the Master Builders Association, Bennett is known as a strong civic leader, contributing a percentage of company profits to the Bennett Homes Foundation, benefiting worthy causes dedicated to children and low-income housing.

About Cascadia:

Cascadia, 12 miles southeast of Tacoma and 18 miles from Seattle-Tacoma International Airport, is a new 5,000-acre planned community in Pierce County. It will provide 6,500 home sites, a business and industrial park, a resort-quality hotel and conference center, up to three 18-hole golf courses, a town center with retail stores and restaurants, seven schools and some 1,280 acres of parks and open space.

At the foothills of Mount Rainier and with views to Commencement Bay, Cascadia has been inspired by the world's greatest communities and is dedicated to offering a totally balanced living environment, integrating arts and culture, nature and recreation, technology and commerce. Cascadia (www.cascadiacorp.com) will be Washington's largest planned community, creating an estimated 10,000 jobs over its 20-year build out. Development financing for Cascadia is provided by Seattle-based HomeStreet Bank.