Florida Communities Sustain Modest Hurricane Damage
30 Septiembre 2004 - 12:24PM
PR Newswire (US)
Florida Communities Sustain Modest Hurricane Damage BALTIMORE,
Sept. 30 /PRNewswire-FirstCall/ -- The Town and Country Trust
(NYSE:TCT) today announced that its seven Florida communities
sustained modest damage from hurricanes Charlie, Frances and Jeanne
in an aggregate amount estimated at approximately $600,000, or
$0.03 per share. The Company also reported that there were no
personal injuries or any structural damage to any of its
communities. The hurricane damage related primarily to fallen
trees, landscaping and building exteriors. Because the damage
resulted from three separate storms, the Company does not expect
the related losses to significantly exceed the applicable
deductibles under the Company's insurance policies. The Town and
Country Trust is a multifamily real estate investment trust that
owns and operates 13,065 apartment homes in 38 communities in the
Mid- Atlantic and Florida. With the exception of historical
information, the matters herein contain forward-looking statements
that are made pursuant to the safe harbor provisions of the
Securities Litigation Reform Act of 1995. Management cautions that
forward-looking statements are not guarantees and that actual
results could differ materially from those expressed or implied.
Examples of such factors that could result in such differences
include but are not limited to: interest rate fluctuations;
competition for tenants; changes in the Company's capacity to
acquire additional apartment properties and any changes in the
Company's financial condition or operating results due to an
acquisition of additional apartment properties; local economic and
business conditions, including without limitation, conditions which
may affect public securities markets generally, the real estate
investment trust industry, or the markets in which the Company's
apartment properties are located, and other factors referred to in
the Company's periodic and other reports filed with the Securities
and Exchange Commission. DATASOURCE: The Town and Country Trust
CONTACT: James Dolphin, Executive Vice President of The Town and
Country Trust, +1-410-539-7600; or Investor Inquiries, Joseph
Calabrese of Financial Relations Board, +1-212-445-8434, for The
Town and Country Trust
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