Comstock Holding Companies, Inc. Announces Changes in Senior Management Team

  Comstock Holding Companies, Inc. Announces Changes in Senior Management Team

Business Wire

RESTON, Va. -- May 9, 2014

Comstock Holding Companies, Inc. (Nasdaq: CHCI) (“Comstock” or the “Company”),
a homebuilding and multi-faceted real estate development and services company
in the Washington, D.C. metropolitan area, today announced a series of changes
within its senior management team, including the resignation of Gregory V.
Benson as President and Chief Operating Officer as of May 5, 2014. He remains
on the Company’s Board of Directors. His current term will expire at the
Company’s 2015 annual meeting of stockholders.

Michael Twiss, Vice President of Construction, will assume management of the
Company’s production functions. Dennis Kelleher, Vice President of Land, will
assume management of the Company’s project entitlement and land development
functions. Mr. Twiss, a 16-year veteran of the Company and the former
President of its Raleigh Division, has over 28 years of experience in the
homebuilding industry. Mr. Kelleher, who joined Comstock in 2012 after his
role as Area President-Washington/Baltimore Region for the NYSE-listed company
MI Homes, has over 25 years of experience with regional and national
homebuilders.

“We thank Greg for his 20+ years of management service to Comstock,” said
Christopher Clemente, Chairman and Chief Executive Officer. “I value my
longstanding relationship with Greg and look forward to working with him in
the future in his continuing capacity as a member of our Board of Directors. I
am pleased that Comstock has a deep bench of talent that enables us to
transition Greg’s management responsibilities to experienced and capable
managers as we continue to focus on growing our business and enhancing our
results.”

Separately, Tere Richards has been appointed Vice President of Sales, assuming
management of the Company’s project sales and related functions. Ms. Richards
has more than 30 years of experience in management of new home sales and
marketing, having held management positions with NVR, one of the nation's
largest homebuilding and mortgage banking companies, and others prior to
joining Comstock in 2006.

About Comstock Holding Companies, Inc.

Comstock is a homebuilding and multi-faceted real estate development and
services company that builds a wide range of housing products under its
Comstock Homes brand through its wholly owned subsidiary, Comstock Homes of
Washington, LC. Our track record of developing numerous successful new home
communities and more than 5,500 homes, together with our substantial
experience in building a diverse range of products including apartments,
single-family homes, townhouses, mid-rise condominiums, high-rise condominiums
and mixed-use (residential and commercial) developments, has positioned
Comstock as a leading residential developer and homebuilder in the Washington,
D.C. metropolitan area. Comstock Holding Companies, Inc. is a publicly traded
company, trading on NASDAQ under the symbol CHCI. For more information about
Comstock or its new home communities, please visit www.comstockhomes.com.

Cautionary Statement Regarding Forward-Looking Statements

This release contains "forward-looking" statements that are made pursuant to
the Safe Harbor provisions of the Private Securities Litigation Reform Act of
1995. Forward-looking statements involve known and unknown risks and
uncertainties that may cause actual future results to differ materially from
those projected or contemplated in the forward-looking statements. Additional
information concerning these and other important risks and uncertainties can
be found under the heading "Risk Factors" in the Company's most recent Form
10-K, as filed with the Securities and Exchange Commission. Comstock
specifically disclaims any obligation to update or revise any forward-looking
statements, whether as a result of new information, future developments or
otherwise.

Contact:

Comstock Holding Companies, Inc.
Joe Squeri, 703-230-1229
Chief Financial Officer
jsqueri@comstockholding.com
or
Investor Relations:
LHA
Harriet Fried/Jody Burfening
212-838-3777
hfried@lhai.com
 
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