NEWTOWN SQUARE, Pa., July 30 /PRNewswire-FirstCall/ -- GMH CommunitiesTrust (NYSE: GCT), announced today that its military housing division, GMHMilitary Housing, has been selected by the U.S. Air Force as the highestranked offeror (HRO) for the privatization of family housing at VandenbergAir Force Base. As a result of the HRO selection, the Company willparticipate in exclusive negotiations with the U.S. Air Force for thedevelopment, management and construction and renovation of high-qualityhomes and other ancillary facilities and amenities to meet the needs of theVandenberg community. The 50-year project is expected to have a five-yearinitial development period (IDP), with estimated project costs valued inexcess of $150 million and covering an estimated 867 end-state housingunits. Vandenberg Air Force Base is headquarters for the 30th Space Wing. The30th manages Department of Defense space and missile testing, and placingsatellites into polar orbit from the West Coast using expendable boosters.Vandenberg Air Force Base is located on California's "Central Coast," nearLompoc, California. "We are extremely honored that GMH Military Housing has been given thisopportunity to work with the Air Force on the Vandenberg project, whichrepresents our second HRO selection with the Air Force to date," commentedBruce Robinson, president of the Company's military housing division. "Welook forward to improving the quality of life of service members and theirfamilies stationed at Vandenberg through the provision of high qualityhousing." Congressionally authorized since 1996, the Military HousingPrivatization Initiative allows the Department of Defense, and theDepartment of the Air Force, to work with the private sector to upgrade thequality of family housing and operate and maintain that housing. The familyhousing assets are typically leveraged with private investment toaccomplish housing construction and renovation goals faster and at a lowercost than military construction. GMH Military Housing (http://www.gmhmilitaryhousing.com), currently operates10 military housing privatization projects, and previously has partneredwith The Department of the Army for the military family housingprivatization projects at Fort Stewart and Hunter Army Airfield, southeastGeorgia; Walter Reed Army Medical Center, Washington, DC and Fort Detrick,Frederick, Maryland; Fort Hamilton, Brooklyn, New York; Fort Carson,Colorado Springs, Colorado; Fort Gordon, Augusta, Georgia; CarlisleBarracks, Carlisle, Pennsylvania and Picatinny Arsenal, Dover, New Jersey;Fort Eustis, Newport News, VA and Fort Story, Virginia Beach, VA; and FortBliss, El Paso, Texas, and the White Sands Missile Range, Las Cruces, NewMexico. The Company also has partnered with The Department of the Navy forits Northeast Region Project, covering eight Naval bases in Maine, RhodeIsland, Connecticut, New York and New Jersey and with The Department of theAir Force for the Air Education and Training Command (AETC) Groupconsisting of four Air Force bases located at Altus Air Force Base, AltusOklahoma; Luke Air Force Base, Glendale, Arizona; Sheppard Air Force Base,Wichita Falls, Texas; and Tyndall Air Force Base, Panama City, Florida. Recently, GMH was awarded the Army's family housing privatizationprojects at the U.S. Military Academy in West Point, New York, and at FortJackson in Columbia, South Carolina as part of the Army's ResidentialCommunities Initiative (RCI). The Company has also been selected by TheDepartment of the Navy to enter into exclusive negotiations for theSoutheast Region project, covering 11 Naval bases located throughout SouthCarolina, Georgia, Florida, Mississippi, and Texas. About GMH Communities Trust GMH Communities Trust (http://www.gmhcommunities.com) is a publicly-tradedMaryland real estate investment trust (REIT). We are a self-advised, self-managed, specialty housing company focused on providing housing to collegeand university students residing off-campus and to members of the U.S.military and their families residing on or near bases throughout the UnitedStates. GMH Communities also provides property management services tothird-party owners of student housing properties, including colleges,universities, and other private owners. The Company, based in NewtownSquare, PA, employs more than 2,150 people throughout the United States. "Safe Harbor" Statement under the Private Securities Litigation ReformAct of 1995: Statements in this press release that are based on our currentexpectations, estimates and projections about future events and financialtrends affecting us are "forward-looking statements." Forward-lookingstatements can be identified by the use of words such as "may," "will,""should," "expect," "estimate" or other comparable terminology. Thesestatements are inherently subject to risks and uncertainties, including therisks relating to our business presented in our filings with the Securitiesand Exchange Commission. Forward-looking statements are made as of the dateof this press release, and we undertake no obligation to publicly update orrevise any forward-looking statement, whether as a result of newinformation, future events or otherwise.
