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Orleans Homebuilders Reports Results for First Quarter 2005 and Reaffirms Guidance for Fiscal Year 2005

BENSALEM, Pa., Nov 8, 2004 /PRNewswire-FirstCall via COMTEX/ -- Orleans Homebuilders, Inc. (OHB) is a residential homebuilder with operations in Southeastern Pennsylvania; Central and Southern New Jersey; Charlotte, Greensboro and Raleigh, North Carolina; Richmond and Tidewater Virginia; Orlando, Florida; and Chicago, Illinois. On August 9, 2004 the Company entered into a letter of intent to acquire Peachtree Residential Properties, Inc. with operations in Atlanta, Georgia and Charlotte, North Carolina.

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