Orleans Homebuilders, Inc. Declares Cash Dividend

BENSALEM, Pa., June 6 /PRNewswire-FirstCall/ -- Orleans Homebuilders,
Inc. (Amex: OHB) announced that it has declared a quarterly cash dividend
of $0.02 per share on the Company's outstanding common stock. The cash
dividend will be payable June 30, 2008 to shareholders of record at the
close of business on June 16, 2008.

About Orleans Homebuilders, Inc.

Orleans Homebuilders, Inc. develops, builds and markets high-quality
single-family homes, townhouses and condominiums. The Company serves a
broad customer base including luxury, move-up, empty nester, active adult
and first-time homebuyers. The Company currently operates in the following
eleven distinct markets: Southeastern Pennsylvania; Central and Southern
New Jersey; Orange County, New York; Charlotte, Raleigh and Greensboro,
North Carolina; Richmond and Tidewater, Virginia; Chicago, Illinois; and
Orlando, Florida. The Company's Charlotte, North Carolina operations also
include adjacent counties in South Carolina. To learn more about Orleans
Homebuilders, please visit http://www.orleanshomes.com.

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[Via Real Estate Newswire]