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Nehemiah Corporation of California Celebrates National Homeownership Month by Giving its 150,000th Down Payment Assistance Gift

Business Wire, June 24, 2003

Business Editors

SACRAMENTO, Calif.--(BUSINESS WIRE)--June 24, 2003

Pioneer of the Down Payment Assistance Industry Reaches Significant

Milestone in Giving

The Nehemiah Corporation (Nehemiah), the nation's leading privately-funded provider of down payment gift assistance, today announced the distribution of its 150,000th down payment assistance gift to Stephanie Jumper of Indianapolis, Indiana. Ms. Jumper, 28, will use the $3,171 gift, granted through The Nehemiah Program(R), to purchase a new home from C.P. Morgan, one of the region's fastest growing and most respected community developers and homebuilders.

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Launched in 1997, The Nehemiah Program(R) is the first nonprofit entity to provide down payment assistance to income and credit qualified homebuyers who do not have access to the resources necessary to cover the down payment and closing costs of a home. The program enables qualified buyers to achieve their dreams of homeownership by gifting them a grant of one to six percent of the contract sales price of a home, to be used for the down payment and closing cost.

"We are thrilled to have been able to help Ms. Jumper and 150,000 other families achieve their dream of homeownership through The Nehemiah Program(R)," said Scott Syphax, president and CEO of Nehemiah. "Stephanie and her son, Noble, represent the type of family Nehemiah was founded to help. Through the years we have seen the profile of a typical homebuyer shift from the traditional nuclear family to a single parent or a female-headed household, and Ms. Jumper is indicative of this shift. We at Nehemiah are extremely proud and very excited to be an instrumental part in helping her achieve her goals and purchase her first home."

"The Nehemiah Program(R) is the gold standard in the down payment gift assistance industry and we are pleased that one of our buyers will receive its 150,000th down payment grant," said Dan Horner, vice-president of C.P. Morgan. "By increasing the number of qualified homebuyers interested in C.P. Morgan Homes, The Nehemiah Program has enabled us to transition more than 2,600 families like Ms. Jumper's from the burden of renting to the dream of homeownership. Nehemiah's work is consistent with the driving force behind our goal of enabling everyday people to experience the myriad of benefits of owning a home when they otherwise would be unable, and we look forward to continuing our work with them to help advance the American dream of homeownership."

In the down payment assistance industry, The Nehemiah Program(R) is unique because of its commitment to community reinvestment and development. Monies generated by Nehemiah through its gifting program are returned to communities through a multitude of affordable housing and community redevelopment initiatives.

Syphax continued, "We are as 100 percent committed to leveraging our direct provision of homeownership to encourage urban wealth creation and community development as we were when we initially launched the program. Our gift to Ms. Jumper and her family is proof of our ongoing commitment to this mission."

About Nehemiah Corporation

Founded in 1994, Nehemiah Corporation of California (www.getdownpayment.com) is a Sacramento-based non-profit organization committed to rebuilding communities from the inside out. Through its direct provision of homeownership, affordable housing and support of other faith-based and community-based organizations, Nehemiah serves as a catalyst for urban wealth creation and economic empowerment. In 1997, Nehemiah launched its flagship program, the Nehemiah Program(R), to provide down payment assistance to homebuyers. To date, Nehemiah has provided more than $500 million in down payment assistance gifts, resulting in over $15 billion in real estate transactions and has helped more than 140,000 families and individuals achieve their dream of homeownership. Committed to comprehensive community reinvestment, Nehemiah has fostered partnerships with Habitat for Humanity and the US Conference of Mayors. In addition to providing down payment gift assistance, Nehemiah has created other programs that work to rebuild cities from the inside out including: Nehemiah Community Reinvestment Fund, Nehemiah Urban Land Trust, Nehemiah Urban Ministries and Nehemiah Community Foundation.

Business Services Industry

Nehemiah Corporation of California Celebrates National Homeownership Month by Giving its 150,000th Down Payment Assistance Gift

Business Wire, June 24, 2003

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