HOLT APPOINTED PRESIDENT AND COO OF CRAFT HOMES

HOLT APPOINTED PRESIDENT AND COO OF CRAFT HOMES



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CHARLOTTE, N.C.–(HISPANIC PR WIRE – BUSINESS WIRE)–Aug. 12, 2002–Charlotte-based Craft Builders has announced the appointment of Ray Holt as President and Chief Operating Officer of its homebuilding division.

Announcement of the appointment was made by Craft Chairman Dave Cuthbertson.

Says Cuthbertson, “Two years after the merger with Cherry Homes, our homebuilding division is ready to rise to the next level. Ray brings a new perspective to the company that we feel will support the success of that progression.”

Holt, a Charlotte native, comes to Craft with extensive experience in the homebuilding industry. Just prior to joining the company, he served as president of Colony Homes Charlotte and as a Land Manager with both Colony and Ryland Homes. He is well known in the Charlotte homebuilding market and has served on a number of industry committees.

Craft Homes USA closed 350 homes in 2001 and is expected to close approximately 450 in 2002 with an average selling price of $146,000. The company has 16 actively selling communities in a variety of locations including Mecklenberg, Union and Gaston County, as well as Hickory and Statesville, N.C. and Rock Hill, S. Carolina.

For additional information on Craft Homes visit the company’s website at crafthomesusa.com.

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CONTACT:

Craft Homes USA

Jeanette Kantor

704/238-1229 x107

HOLT APPOINTED PRESIDENT AND COO OF CRAFT HOMES