TCT Town & Country Trust

BALTIMORE, Oct. 7 /PRNewswire-FirstCall/ -- The Town and Country Trust (NYSE:TCT), a real estate investment trust (REIT) headquartered in Baltimore, MD, today announced that it has acquired Brandywine Woods, an apartment community in Bear, Delaware, a suburb of Wilmington, Delaware. Brandywine Woods was completed in 2000 and contains 264 garden-style apartments and one townhome. The property features a unit mix consisting of 57% one-bedroom units and 43% two-bedroom units. Amenities include a swimming pool, tennis court, state-of-the-art clubhouse/leasing center and fitness center. Each unit has its own washer and dryer and several units have private garages. The property was acquired through an intermediary in anticipation of the completion of a like-kind exchange under Section 1031 of the Internal Revenue Code. The acquisition was funded using proceeds from the Company's debt facility with Fannie Mae. Comments from Management The acquisition of Brandywine Woods is part of the Company's strategy to focus its investment resources in markets that management believes are characterized by high barriers to entry and good growth potential. The Wilmington, Delaware, market has benefited from what the Company believes is a healthy supply/demand ratio that the Company anticipates will continue going forward. The Town and Country Trust is a multifamily real estate investment trust that now owns and operates 13,330 apartment homes in 39 communities in the Mid-Atlantic and Southeast. Additional information regarding The Town and Country Trust can be found on the Trust's Web site at http://www.tctrust.com/. 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 Trust's capacity to acquire additional apartment properties and any changes in the Trust'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 Trust's apartment properties are located, and other factors referred to in the Trust's registration statement and periodic reports filed with the Securities and Exchange Commission. DATASOURCE: Town and Country Trust CONTACT: Thomas L. Brodie, President and COO, of The Town and Country Trust, +1-212-407-2161; or Investor Inquiries: Joseph Calabrese, of Financial Relations Board, +1-212-827-3772 Web site: http://www.tctrust.com/

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