COSTA MESA, Calif. - March 16, 2004 -- Qualico Group, Ltd., based in Winnipeg, Manitoba, has invested growth capital in Reytex Homes, Inc. of Austin, Texas. Transaction terms were not publicly disclosed.

RSM EquiCo Capital Markets initiated the transaction, led the negotiations and acted as the exclusive financial advisor to Reytex Homes.

"Given changes in the U.S. homebuilding market, Reytex Homes desired a rapid M&A process," said Paul Weisbrich, senior managing director of RSM EquiCo Capital Markets.

"RSM EquiCo Capital Markets quickly generated potential domestic and international suitors for Reytex, and identified Qualico Group as a preferred cross-border investor," Weisbrich continued. "Ultimately, Qualico Group became the suitor of choice for Reytex Homes."

About Reytex Homes, Inc.

Independently owned, Reytex Homes focuses on providing upscale entry-level and "move-up" homes in communities in the greater Austin area at prices from $200,000 to $350,000. The company strives to combine quality, luxury and affordability in the homes it offers. Reytex Homes acquires buildable lots with ready access to roads and utilities and manages the overall construction process on all projects. The company subcontracts all electrical, plumbing, drywall and other construction-related activities. Reytex Homes generated revenue of nearly US$10 million in FY 2003.

About Qualico Group, Ltd.

Privately held, Qualico Group is a fully integrated real estate development company with extensive operations in Calgary, Edmonton, Vancouver and Winnipeg. Qualico Group is one of the largest real estate development operations in Western Canada. Since its inception nearly 50 years ago, Qualico Group has built over 45,000 homes and 15,000 condo and town homes for Canadians. The company has developed over 1.5 million square feet of commercial properties ranging from downtown office towers to neighborhood shopping centers to industrial subdivisions. Qualico Group also maintains a building products division selling general building materials, engineered roofing products and flooring systems.

About RSM EquiCo, Inc.

RSM EquiCo is a leading global investment banking firm serving private middle-market companies throughout North America. With more than 400 professionals and support personnel, the firm specializes in mergers, acquisitions and divestitures for non-public companies with up to $500 million in annual revenues. Based in Costa Mesa, Calif., RSM EquiCo is part of RSM McGladrey Business Services, a business segment of H&R Block Inc. For more information, log on to www.rsmequico.com.