This can be regarded as a significant development in the gamut of the international continuum of the global business. From some days before there had been great rumors and at last it has come true in the recent days. It has been announced by the WCI Communities, Inc. here today that the Board of Directors of the Company had gone through a meeting with the financial and legal advisors of the organization of high significance for the review of the gradual progress of the specific methodology needed for the exploration of a sale of the company, that was announced in the previous days.

WCI Communities, Inc. is a renowned organization in the trade of home buildings and was made America's Best Builder in 2004 by the National Association of Home Builders and Builder Magazine. From its inception in 1946 the Company has been engaged in the creating of amenity-rich, master-planned lifestyle communities. The WCI based in Florida caters to primary, retirement, and second-home buyers in Florida, New York, New Jersey, Connecticut, Maryland and Virginia. The company excels in the offering of traditional and tower home choices with prices from the upper-$100,000s to more than $10 million and features a wide array of recreational amenities in its communities. In addition to homebuilding, WCI generates revenues from its Prudential Florida WCI Realty Division, title businesses, and its recreational amenities, as well as through land sales and joint ventures. The company at present owns and controls developable land on which the company plans to build over 21,000 traditional and tower homes.

However, it must be noted in the same respect that up to now the Company has not been able to receive a definite proposal for the purchase of the Company. But at the initial level there were the presence of several renowned companies who expressed their interests to get hold of the WCI but it is due to the presence of worsening conditions in haste and also of the prevailing uncertainty in the homebuilding and debt markets, that have made the sale process more tough. In this esteem it has been learnt that there is a specific intention on the part of the Board in the continuation of the sale process. There is also an intention in the searching of other potential strategic and financial alternatives, as well as asset sales, strategic partnerships, minority investments, and recapitalization transactions to enhance shareholder value.  

Don E. Ackerman, Chairman of the Board, on the latest development said: "In addition to the process outlined above, WCI will focus on navigating the current housing downturn by emphasizing cash flow, debt reduction, and operating efficiency, while continuing to reduce spending and overhead expenses."