Delivering a Higher Standard of Living to Californians for Three Decades: Professional Community Management Inc. Turns 30.

Business Editors

LAKE FOREST, Calif.--(BUSINESS WIRE)--May 7, 2002

The Company's Unwavering Focus on Quality and Service Has Led to

Statewide Recognition as the Industry Standard Bearer 

1972 was a great year for Southern California: UCLA and the Los Angeles Lakers won their respective basketball championships, USC took home the NCAA title in college football and Professional Community Management Inc. (PCM) began operating in Southern California. While the Trojans and Bruins remain competitive, only the Lakers and PCM remain squarely where they were 30 years ago -- "the best in the biz."

Today Lake Forest-based PCM (www.pcminternet.com) oversees a portfolio totaling more than 70,000 residential units in communities throughout Southern California. The company is also one of the largest managers of active adult communities in the United States, managing more than 20,000 units in active senior retirement communities. Combined, these interests represent a real estate value exceeding $14 billion.

"PCM has always had one goal in mind -- to provide our clients with the highest level of professionalism in the industry, bar none," said Jeffrey Olsen, president of PCM.

"Over the years, what has separated us from the competition is the belief that we are impacting people's lives, each and every day. With this in mind, we've helped thousands of homeowner associations create better communities for their member families.

"It is important to take pride in your community and to have the confidence that the value of your property is protected. And after all, there aren't many things in life more important than feeling proud of the community you live in," Olsen added.

A History of Innovation and Customer Service

PCM's roots in community association management actually date back to 1964, when PCM executives began managing Laguna Woods, Calif.-based Leisure World as the Leisure World Foundation. In 1972, the Foundation's management recognized the need and opportunity to provide similar services to the burgeoning suburbs and communities in Orange county and formed Professional Community Management.

PCM's charter was to apply what it had learned from managing Leisure World successfully for the past eight years to new communities that were recently developed or had less than positive experiences with disinterested, sub-par management companies.

As a testament to PCM's ongoing service and management acumen, Leisure World remains as one of the company's largest clients today, even after the company has grown into an industry leader with divisions beyond that of its initial charter managing this renowned retirement community.

"PCM has been a long-standing partner of Leisure World and has always shared our vision in creating one of the premier active adult communities in Southern California," stated Milt Robbins, president of the Golden Rain Foundation at Leisure World. "With so much change in Orange county over the last 30 years, PCM has been invaluable in helping us deliver a consistent and high standard of excellence that continues to help us attract energetic new residents.

"Since 1972, PCM has been a trusted friend," added Robbins.

As PCM continued growing and expanding geographically, it began focusing on how it could provide more innovative services and thus create a more enriching and rewarding experience for its clients.

In 1999, PCM launched a stand-alone financial services package for homeowners associations that includes accounts payable, accounts receivable, cash management with Internet access to review financial and owner information.

"Homeowners associations in California need to fulfill certain financial reporting requirements, and many do not have the expertise, manpower or financial resources to meet those requirements," stated Michelle Burge, vice president of finance at PCM.

"By outsourcing their accounting needs, the associations can satisfy their accounting and legal obligations and focus more energy on the day-to-day operation of their community while achieving significant cost savings."

Such industry firsts have led to PCM and its executives receiving awards and accolades throughout the years. In 1997, the company was the first management firm to earn the distinguished designation of "Certified Management Firm" (CMF(C)) from the California Association of Community Managers (CACM) (www.cacm.org). PCM earned this title by being the first company to complete the CACM's stringent certification program.

Moving Forward

Outside of Orange county, PCM operates regional offices in Vista, Calif. and San Diego, and continues to innovate its business model. In 1999, PCM launched its Internet Services Division, the industry's first e-business solution for clients. Through the company's Web site, www.pcminternet.com, homeowners can communicate directly with their community managers, submit maintenance requests online and access their own homeowner association account.

PCM also designs and maintains custom Web sites for member communities, provides links to business-related affiliates and develops interactive advertising for affiliate companies.

"PCM has been managing the Aliso Viejo Community Association since its inception in 1982. For the past 20 years, PCM has provided us with the leadership and direction to meet and overcome many challenges," stated Ray DeLeon, president of the Aliso Viejo Community Association.

"PCM brings us their experience in having successfully managed many other Orange county communities and has added tools and services that make doing business with them simple and easy, such as designing a Web site for our community."

"For some companies, it is hard to make the 'old and the new' work together, but PCM blends their experience with innovation nicely to create a service-oriented company focused on continuing as the community management industry leader, which is why we have chosen them as our business partner," DeLeon added.

About Professional Community Management

PCM has earned its reputation through integrity, experience, skill and personal commitment to management excellence. Since its inception in 1972, the company has created a level of quality that is unsurpassed in the industry and will continue to grow and improve its business scope and customer service in the near future. For more information on PCM, contact 800/369-7260 or www.pcminternet.com.