CHICAGO, Jan. 17 /PRNewswire-FirstCall/ -- Manufactured Home Communities, Inc. (NYSE: MHC) today announced the tax treatment of its 2002 dividend distributions of $1.87 per common share (CUSIP No. 564682102) as follows:

     Record     Payable   Distribution    Ordinary Taxable     Return of
      Date       Date       Per Share         Dividend          Capital

    12/28/2001  1/11/2002     $0.445           $0.356            $0.089
    3/27/2002   4/12/2002     $0.475           $0.380            $0.095
    6/28/2002   7/12/2002     $0.475           $0.380            $0.095
    9/27/2002  10/11/2002     $0.475           $0.380            $0.095

    Totals                    $1.870           $1.496            $0.374

Classification of Dividends: The above table setting forth 2002 dividends includes four quarterly dividends paid in 2002. The fourth quarter 2002 distribution, made on January 10, 2003 to holders of record as of December 27, 2002, is considered a 2003 distribution for federal income tax purposes. Shareholders are encouraged to consult with their tax advisors as to their specific tax treatment of Manufactured Home Communities, Inc. dividends.

Manufactured Home Communities, Inc. owns or has a controlling interest in 141 quality communities in 22 states consisting of 51,293 sites. MHC is a self-administered, self-managed real estate investment trust (REIT) with headquarters in Chicago.

SOURCE Manufactured Home Communities, Inc.