(October 27, 2005) As a vital part of our mission, the Housing Trust of Santa Clara County offers assistance designed to make homeownership more affordable to first-time buyers. We are pleased to announce that, after making $780,000 available on September 1, our First-time Homebuyer Assistance Program has met its lending goals for 2005. All funds allocated to the program for this year have been expended. We will not accept applications for assistance after October 27, 2005 and will announce the new allocation funds for next year before January 3, 2006.

About the First-time Homebuyer Assistance Program The Housing Trust’s First-time Homebuyer Assistance Program has already helped more than 1,300 families since loans were first offered in August 2001. The program offers eligible Santa Clara County homebuyers interest-free assistance of up to $6,500, which can be used toward closing costs and other expenses incurred during the homebuying process. Information on the program is available by calling the Housing Trust at 408-436-3450, ext 5#, and through the Trust’s website at http://housingtrustscc.org/m2_s1.php. Downloadable application forms are available through the Trust’s website: www.housingtrustscc.org.

Limited funds are available for this program, and will be distributed strictly on a “first-come, first-served,” funds-available basis. As with all of the Housing Trust’s programs, the First-time Homebuyer Program is funded by voluntary donations from local employers, foundations, government, and individuals.

About the Housing Trust of Santa Clara County America’s pioneering public-private affordable housing investment trust was formed through a partnership with the Silicon Valley Leadership Group, the County Board of Supervisors, the Collaborative for Housing and Homeless Issues, and Community Foundation: Silicon Valley. The Housing Trust of Santa Clara County has raised more than $30 million in voluntary public and private contributions, and has invested more than $19 million in affordable housing opportunities throughout Santa Clara County. Since we began distributing funds in August, 2001, the Trust has already helped more than 4,800 families, including helping more than 1,300 families buy their first homes in Santa Clara County; enabled the development of more than 1,000 units of affordable rental housing, worth more than $273 million; and helped create hundreds of units of shelter and special-needs housing in our community, making it possible for people like teachers, police officers, firefighters, nurses and civic employees to live in the communities they serve.