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For Immediate Release

Virginia Beach, Virginia – February 15, 2010 - Ramon W. Breeden, Jr., company founder and chairman of the board, announces two key management changes within The Breeden Company.

Timothy A. Faulkner, received the promotion to chief operating officer of The Breeden Company and will also retain his position as president of Breeden Property Management. As chief operating officer, Faulkner oversees the operations for the residential, multi-family and commercial entities that operate under The Breeden Company. In addition, Barry Tomlin will immediately assume the role of vice president of Breeden Property Management. In his new role, Tomlin is responsible for overall customer service and property conditions of all multifamily assets owned and managed by The Breeden Company.

“We continue to have tremendous growth within the organization. As the company evolves, employee responsibilities are expanding,” said Breeden. “Tim and Barry are both remarkable talents to our organization and will play an integral role in the future of the company and executive team.”

Faulkner’s business acumen proved instrumental in the multifamily property management division’s success during his six year tenure as president. Under his direction and leadership, achievements include 170 percent growth in the apartment portfolio, a 212 percent increase in net operating income, executing the largest single multifamily acquisition in Hampton Roads, the acquisition of 1,857 apartments, and constructing and leasing 966 apartments. Prior to joining The Breeden Company, Faulkner served as the president and chief operating officer of VSA Resorts, where he directed the overall operations of entities with combined annual revenue of $20 million.

Tomlin joined the organization in 2008 as a regional director. Tomlin stabilized occupancy for one of the largest multifamily residences in Virginia Beach, reduced maintenance demands by 80 percent, and implemented customer satisfaction practices that drastically improved resident retention. Prior to working for company, Tomlin held a senior level position with Verizon Communications where his primary focus was on establishing and maintaining key customer relationships by demonstrating responsiveness and urgency when meeting customer needs.

About The Breeden Company
For nearly half a century, The Breeden Company has built a solid reputation in the residential, multi-family, commercial and resort development industries. The company has developed, built and operated over 4,200 apartments with an additional 400 units under construction, two million square feet of commercial shopping center and office space with an additional 60,000 feet under construction, and 1,700 residential homes. The organization's diverse business model and successful track record has made The Breeden Company a leader in the real estate industry.

Media Contact:
Alanna Doczi Deal
Vice President of Corporate Marketing, The Breeden Company | 757.486.1000