[Note: residents should bear in mind that this message was addressed to the employees. -Ed.]

Time really does fly by.  It seems like it was only yesterday that I started my first job and then I realized that I have spent 40 years working in Corporate America.  Some months ago I came to the decision that it was time to play more and work less and I advised the Corporation of my intention to retire on December 31, 2005.

The four years that I have spent working with this wonderful team have been some of the best of my career.  We have accomplished a lot together.  We have taken this project from very difficult circumstances to one of the highest performing business units in the Pulte Corporation.  And, the best is yet to come.  With the new Stony Creek Project underway and several other land acquisition opportunities in process, the future is very bright.

Scott Middleton, currently the Southeast Area Vice President of Finance, will be taking over as Division President.  He and I along with the OPS Team will be working together through the end of the year to ensure a smooth transition.  Scott and I worked together in Las Vegas for several years and then again for a short time when I was assigned here at Sun City Hilton Head in 2001 and, of course, he has interfaced extensively as Area Vice President of Finance.  I know him to be a terrific person with plenty of smarts and energy and I am sure you will enjoy having him as part of this team.

Thank you for what you do so well.

Ken Hull