(EMAILWIRE.COM, January 15, 2002 ) -- Florida developer WCI Communities, Inc. on Tuesday made a $5 million commitment under Florida's new Corporate Income Tax Credit Scholarship Program. The program provides scholarship monies for low-income families seeking choices in private education.

The commitment is the first under the new state law, which funds scholarships for families otherwise unable to afford a private school for their children. The $5 million is being donated to FloridaChild, a Tampa-based organization which promotes educational initiatives. The scholarships will be distributed to families in regions where WCI has a business presence.

"As Americans, we respect and enjoy our freedoms," said Al Hoffman, WCI's chief executive officer. "Unfortunately, limited resources and other circumstances often restrict a family's freedom to choose where their children are educated.

"Florida's new Corporate Income Tax Credit Scholarship Program offers WCI and others a chance to enable those parents to choose what's best for their children," he said. "We're proud to be contributors and partners in the education of Florida's children."

On Tuesday morning, Hoffman joined Petrena Trice, Dade County's 1999 Teacher of the Year for high school and GED, to celebrate the grand opening of her school, Tri-Tech Preparatory School in Miami. Trice initiated prescriptive education in public schools. Now, with the support of WCI, she will be able to reach a larger audience using the method in a private setting.

In a separate ceremony Tuesday afternoon, Hoffman joined Bishop Harold Ray, founder of Redemptive Life Academy to mark the progress Ray has made with his faith-based initiative and hear testimony from students on the value of their education at the Redemptive Life Academy. Tri-Tech and Redemptive Life will be among the schools benefiting from the $5 million contribution.

For more than 50 years WCI Communities, Inc., based in Bonita Springs, Florida, has been creating amenity-rich, leisure-oriented master-planned communities throughout Florida. WCI is a privately held company with more than 30 communities located in Florida's most desirable coastal markets. Its award-winning communities currently feature more than 500 holes of golf, more than 1,000 boat slips at five deep-water marinas, various country club, tennis and recreational facilities and several luxury hotels. The company's land holdings include approximately 16,000 acres planned for as many as 29,000 residences.

Its homebuilding operations serve primarily move-up, empty nester and retirement homebuyers. WCI has also distinguished itself from traditional homebuilders by developing luxury residential towers with prices ranging from approximately $400,000 to more than $10 million. The company also derives income from profitable amenity operations such as golf, restaurants and marinas as well as from ancillary businesses including Prudential Florida WCI Realty, mortgage, title and property management services. The company employs approximately 2,600 people and an additional 1,000 real estate brokers and associates.

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Produced for WCI Communities, Inc.

Contacts:

Elena Hartmanis
Tilson Communications
(561) 417-7907
Ehartmanis@tilsonpr.com

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Contact Information:
WCI Communities, Inc.
Joseph Nchor
Tel:
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