CHICAGO--(BUSINESS WIRE)--Sept. 6, 2004--Manufactured Home Communities, Inc. (NYSE:MHC) today announced it has undertaken a preliminary assessment of the impact of Hurricane Frances on its operations. The slow movement of the storm across Florida resulted in significant rainfall throughout the state. Preliminary reports indicate two properties near Vero Beach may be significantly impacted by flooding caused by the rains and winds associated with Hurricane Frances, while the impact on our other properties is not expected to be material. We will continue to assess this over the coming days.

According to Thomas Heneghan, CEO and President of MHC, "The unprecedented nature of these two storms occurring within weeks of each other has certainly stressed everyone in Florida. We appreciate the fatigue of our residents, our employees and others dealing with these storms.

"We were well on our way to recovering from Hurricane Charley. Although it is unfortunate to have received this setback caused by Hurricane Frances, we are confident we will recover from this storm in a similar manner. We have sent teams out to assess the properties and have begun the clean up process."

The forward-looking statements contained herein are subject to certain risks and uncertainties including, but not limited to, the Company's ability to maintain rental rates and occupancy with respect to properties currently owned or pending acquisitions; the Company's assumptions about rental and home sales markets; the completion of pending acquisitions and timing with respect thereto; the effect of interest rates as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

Manufactured Home Communities, Inc. owns or has an interest in 209 quality communities in 23 states consisting of 80,028 sites. MHC is a self-administered, self-managed, real estate investment trust (REIT) with headquarters in Chicago.

    CONTACT: Manufactured Home Communities, Inc.
             Michael Berman, 312-279-1496

    SOURCE: Manufactured Home Communities, Inc.