NEWS RELEASE–November 24, 2003

SEACREST FLORIDA PROPERTIES ANNOUNCES SELL-OUT OF VALENCIA AT ABACOA®, WILL HANDLE RE-SALES OF AVAILABLE HOMES

Its official, the last new home in Valencia at Abacoa has sold, just 20 months from the onset of sales! A total of 137 homes were sold at an average price approaching $650,000. The highest sale recorded was $1.2 million. "A terrific location, great builders, and the consumer demand for a high quality custom home product in Abacoa® were all reasons for the overwhelming success of Valencia," cited Colleen Cooley, CEO of Seacrest Florida Properites "These factors will continue to make Valencia at Abacoa® one of Jupiter's most desirable places to live, and we hope to become the premier source for re-sales within Valencia."

For a list of homes now available in Valencia at Abacoa®, contact Seacrest Florida Properties at (561) 747-7717 or search "Available Inventory" on www.valenciaatabacoa.com

Jupiter, FL-Frankel Enterprises, the developer of Admirals Cove in Jupiter and Paone Homes of Philadelphia have purchased 57 acres within Abacoa to create the community's first neighborhood of custom single-family estate homes.

Valencia at Abaco® a includes 137 custom homes built in the Mizner Mediterranean architectural style by Frankel-Paone Homes, Issa Homes, DelCrest Homes and The Spear Group. Each of these builders have backgrounds in creating luxury homes in Broward and Palm Beach Counties. Neighborhood amenities include "The Village Green", a neighborhood community activities and fitness center, pool and cabana.

One and two-story residences offer front porches and back entry garages in keeping with the Abacoa® community vision of a warm and pedestrian friendly village. Lakes, nature preserves and green belts will surround the neighborhood. Jupiter Middle School, Lighthouse Elementary and the FAU North County Campus are within walking distance from Valencia at Abacoa®. The Abacoa Town Center and the beaches and parks of the Northern Palm Beaches are all nearby.

Valencia at Abacoa® Mediterranean-styled, custom homes feature such "Old World" architectural features as iron gates and arched doorways. Terra cotta tiled roofs of multiple pitches and trellises draped with bright bougainvillea provide color and interest. Artistic details in the stucco exteriors tell a story of quality and detail.

Inside each home, high ceilings, curved Moorish style windows and open loggias capture cool tropical breezes. Balconies will provide extended vistas. Each residence has been designed to take advantage of relaxed indoor/outdoor Florida living. Front elevations mirror the romance and detail found in West Palm's historic El Cid neighborhood. Home plans feature from 2,600 to over 5,000 square feet of air-conditioned space with luxury interior detailing and appointments.

For more information, contact Colleen Cooley, Broker Associate at (561) 747-7717.