Wakefield Plantation Announces New Phase Of Development

Offering a $7,000 Buyer Incentive on Select Homes

RALEIGH, N.C. December 4, 2006 – Wakefield Plantation, a Wakefield Development Company community, has announced a new phase of development in this exceptional neighborhood. Located in North Raleigh, Magnolia at Wakefield features 37 European-styled, Energy-Star qualified Townhomes by 1st American Builders. For a limited time, homebuyers can take advantage of a $7,000 sales incentive on select homes. If buyers close by December 29, 2006, they will be presented with a $5,000 Visa Check Card and $2,000 in closing costs.

Priced from the $190s, this new community offers homebuyers custom built, two-story, one-car garage townhomes ranging from 1650 to more than 1800 square feet. There are four distinct floorplans to choose from, two of which feature master bedrooms on the first floor.

“Wakefield Plantation has been a successful neighborhood for us and we are excited to announce that a new phase of development is underway in this great community,” said Dawn Forrest, Director of Marketing at Wakefield Development Company. “With its convenient location, state-of-the-art amenities, and a high-quality product, homebuyers are getting a good value when purchasing in Magnolia at Wakefield.”

For more information about the new community, please contact the Magnolia at Wakefield Plantation sales office at 919.554.9979 or visit www.WakefieldPlantation.com.

About Wakefield Development Company
Signature Communities. Ideal Opportunities.

Wakefield Development Company is the Triangle’s largest developer of residential communities, with a portfolio that includes over 14,000 homesites throughout North Carolina. In addition to the 2004 and 2006 NCHBA Community of the Year - Bedford at Falls River, the company has six other communities under development across the Raleigh-Wake County market including Wakefield Plantation, Eagle Ridge, Edgewater and Twin Lakes. Wakefield is developing Mackintosh on the Lake in Burlington and has begun construction on two new Triangle area communities - Renaissance Park and 12 Oaks. They also have begun work on two new Coastal Carolina communities, Kingfish Bay and San Rio Ocean & River Club. For more information, call (919) 556-4310, visit www.Wakedev.com.