RUSH STANISAI SELECTED AS LAND ACQUISITION MANAGER
OF FOREMOST COMMUNITIES, INC.

IRVINE, Calif. – Nov. 26, 2007 – Foremost Communities Inc., a residential land development and investment company, announced today that Rush Stanisai has been named land acquisition manager. Mr. Stanisai joins Foremost from Lennar Homes of California Inc., where he served as finance manager and assisted in managing more than one billion dollars in land assets in the Inland Empire region.

Mr. Stanisai will assist in the acquisition of strategic land positions throughout Southern California through Forestar Land Partners, LLC, a joint venture between Foremost and Starwood Capital Group Global, L.L.C., a leading real estate investment firm. The goal of the partnership is to purchase or invest in more than $250 million worth of land over the next several years.

In his new position, Mr. Stanisai will assist in sourcing new land opportunities, underwriting potential acquisitions and joint ventures, managing due diligence and negotiating purchase and sales agreements, as well as joint venture documents. In order to find the most advantageous land deals, he will closely monitor current market conditions and trends.

“Rush is exceptionally capable with a track record of success. We are extremely pleased to have him join our team,” said Steve Cameron, president of Foremost Communities.

While at Lennar Homes, Mr. Stanisai played an integral role in renegotiating land and conducting extensive feasibility assessments of key Inland Empire properties for Lennar, one of the nation’s leading homebuilders. Mr. Stanisai has a strong financial background as well, having assisted with the development of an asset-based lending program that provided a capital source to exclusive clients for NACC, Inc., a division of Tyco International.

Mr. Stanisai earned a Bachelor of Arts degree in psychology with a specialty in business and administration from the University of California, Los Angeles. He lives in Irvine, Calif. with his wife, Melissa.

About Foremost Communities, Inc.

Foremost Communities, Inc. is a land development and investment company based in Irvine, Calif. We purchase residential land at any stage of the entitlement or development process, construct all of the required infrastructure improvements and sell the finished lots to merchant homebuilders. In addition, we invest in new projects and recapitalize existing projects throughout Southern California. For more information, please visit www.foremostcommunities.com.

About Starwood Capital Group Global, LLC

Starwood Capital Group Global, LLC is a privately-held global real estate investment firm based in Greenwich, CT (with its predecessor Starwood affiliates “Starwood”). Founded in 1991, Starwood specializes in the creation and acquisition of real estate-related investments on behalf of commingled investment funds that are sponsored and created by Starwood or its affiliated entities. Such real estate-related investments include residential and commercial land development, multifamily, hotel, office, retail, mixed-use, industrial, health clubs, golf and mezzanine debt. Starwood’s clients include public and private retirement programs, university endowments, foundations, international and high net worth investors. During the past sixteen years, on behalf of its funds, Starwood and its affiliates have invested approximately $6 billion of equity capital in transactions representing over $30 billion of asset value.

Starwood, on behalf of its affiliated funds, has led the formation and/or growth of several market leading companies including Groupe Taittinger and Societe du Louvre, Europe’s second largest hotel network; iStar Financial (NYSE: SFI), the leading publicly traded finance company specializing in commercial real estate mortgage, mezzanine and net lease financing; Starwood Hotels & Resorts Worldwide (NYSE:HOT), a leading global owner/operator of hotels, Westin Hotels & Resorts which was merged into Starwood Hotels & Resorts Worldwide in January 1998; Equity Residential Properties Trust (NYSE:EQR), one of the premier US multifamily REITs; and National Golf Properties/American Golf Corporation, the largest owner/operator of golf courses and related facilities in the U.S., who, together with its private sister company, owned, leased or managed 255 golf courses.