OHB Orleans Homebuilders,

BENSALEM, Pa., Oct. 21 /PRNewswire-FirstCall/ -- Consistent with the terms of the Second Amended and Restated Revolving Credit Loan Agreement announced on September 30, 2008 and as previously disclosed in its Annual Report on Form 10-K, Orleans Homebuilders, Inc. (AMEX:OHB) reiterates that it has suspended payments of quarterly cash dividends on the Company's outstanding common stock. A copy of the Second Amended and Restated Revolving Credit Loan Agreement was filed with the Securities and Exchange Commission on October 1, 2008, as an exhibit to the Company's Annual Report on Form 10-K. 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/ DATASOURCE: Orleans Homebuilders, Inc. CONTACT: Garry P. Herdler, Executive Vice President & Chief Financial Officer of Orleans Homebuilders, Inc., +1-215-245-7500 Web Site: http://www.orleanshomes.com/

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