WCI Communities, Inc. announced today that the Delaware Bankruptcy Court presiding over its chapter 11 cases has approved the adequacy of its Disclosure Statement for its Plan of Reorganization. At the hearing, it was announced that agreements on terms of the Plan had been reached with the steering committees for the Company’s senior secured term and revolving lenders, the WCI
Official Committee of Unsecured Creditors and representatives of a group of homeowners claiming damages related to Chinese drywall.

The Court’s approval paves the way for WCI to begin soliciting votes to accept its Plan of Reorganization, which already enjoys the support of the steering committees for the Company’s secured term and revolving lenders and the Official Committee of Unsecured Creditors. It is anticipated that Plan materials and ballots will be mailed by July 24, 2009. The deadline for returning ballots is August 19, 2009, in accordance with instructions in the Bankruptcy Court’s order and on the ballots. A hearing to confirm the Plan is scheduled for August 26, 2009

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