10/23/08

SCOTTSDALE, AZ (September 10, 2008) – Shea Homes ranks highest in customer satisfaction for new home builders in the Phoenix market, according to the J.D. Power and Associates 2008 New Home Builder Customer Satisfaction StudySM. For more information about the J.D. Power and Associates 2008 New-Home Builder Customer Satisfaction StudySM visit jdpower.com

The study includes satisfaction rankings of builders in 33 of the largest U.S. home-building markets and measures buyer satisfaction by examining the following key categories (listed in order of importance): builder’s sales staff; builder’s warranty/customer service staff; workmanship/materials; price/value; home readiness; construction manager; recreational facilities provided by the builder; builder’s design center; and location. Shea Homes achieved a score of 879 on a 1,000 point-scale in 2008, up by 52 points from 827 in 2007, and well above the average of 783.

“Our team has worked tirelessly to achieve these results, and I could not be more proud,” said Buddy Satterfield, president of Shea Homes Arizona. “Special recognition goes to our sales and construction teams, customer service, and designers who ranked highest in four out of nine key categories. Enhancing people’s lives has always been our first priority, and we have continued to make this commitment despite the downturn in our industry.”

This designation by J.D. Power and Associates comes after having received two of the homebuilding industry’s other most respected awards: Shea Homes was named Builder of the Year in 2007 by Professional Builder magazine and was named America’s Best Builder by the National Association of Home Builders (NAHB) and Builder Magazine in 2005.

The 2008 New-Home Builder Customer Satisfaction Study is based on responses from 50,837 buyers of newly built single-family homes who provided feedback after living in their homes an average of four to 18 months. The study includes responses from 5,480 home buyers in the Phoenix market. For more comprehensive builder rankings for all 33 U.S. markets, visit jdpower.com

About Shea Homes Arizona
Shea Homes Arizona is driven by a passion to build the finest-crafted homes and communities in America and to make dreams of home ownership come true. We care passionately about design, workmanship, customer service, and the needs and wants of our customers. Shea Homes is committed to creating neighborhoods that age gracefully and mature over time to create a community atmosphere and an enhanced quality of life for all its valued customers. More information about Shea Homes is available by visiting sheahomes.com or calling 480-348-6000.

About Shea Homes
America’s largest privately owned homebuilder, Shea Homes Limited Partnership is a division of Shea Homes, an independent member of the Shea family of companies, which celebrated its 125th anniversary in 2006. Over the past century and a quarter, members of the Shea family and their companies have accomplished many extraordinary milestones, including completing work on the foundation of the landmark Golden Gate Bridge, working on San Francisco’s Bay Area Rapid Transit System (BART) and serving as a managing partner for the construction of the Hoover Dam. Yet Shea Homes’ most satisfying achievements continue to revolve around listening to its customers’ needs and satisfying those needs by providing an extensive selection of new home floor plans and quality workmanship in the finest neighborhoods and communities available today. Call 866-696-7432 or visit sheahomes.com for additional information.