Mitchell Hochberg, who founded the Spectrum firm in 1985, willcontinue to direct the company's operations as president and chiefexecutive officer of WCI Spectrum Communities LLC, a wholly ownedsubsidiary of WCI. The company's headquarters will remain inValhalla. All of the company's 150 employees have now become partof the new venture.

"I believe that WCI and Spectrum Communities are a winning team.Our integrated talents and assets, combined with ourcustomer-centric philosophies will propel us toward our goal ofexpansion throughout the Northeast," says Hochberg.

He adds that its affiliation with WCI, a publicly traded companythat reported total revenues in 2003 of $1.5 billion, will provideWCI Spectrum a "fantastic platform for growth." Specifically,Hochberg says that his firm plans to expand its existing luxuryhome development base in New York, New Jersey and Connecticut aswell as enter the Pennsylvania and Massachusetts markets.