day announced that its name has been changed to "Woodbridge Holdings Corporation." The name change was approved by the Company's shareholders at the Company's Annual Meeting of Shareholders held on May 20, 2008. The Company's Board of Directors previously approved the name change, and recommended that the Company's shareholders approve the name change in light of the Company's intention to expand its operations beyond its current real estate activities. In connection with the name change, the ticker symbol of the Company's Class A Common Stock on the New York Stock Exchange will change from "LEV" to "WDG." (NYSE: WDG) Trading under the new ticker symbol, "WDG," is planned to begin on Tuesday, May 27, 2008.

"We believe the new name is appropriate given the Company's current and future business strategy, which will include acquisitions and investments both within and outside the real estate industry," commented Alan B. Levan, Chairman and Chief Executive Officer of Woodbridge Holdings Corporation.

In addition to approving the name change, at the Company's Annual Meeting of Shareholders, the Company's shareholders also re-elected the nominated slate of directors, John E. Abdo, William Nicholson and Alan J. Levy, to the Company's Board of Directors, in each case for a three-year term expiring in 2011.

About Woodbridge Holdings Corporation:

Woodbridge Holdings Corporation, directly and through its wholly owned subsidiaries, seeks to invest opportunistically within and outside the real estate industry.

Core Communities, a wholly owned subsidiary, develops master-planned total-living community environments throughout the Southeastern United States, including its original and best known, St. Lucie West. The company's 8,200-acre Tradition™ Florida community is home to more than 1,700 families, vibrant commercial areas and a 4.5-mile-long employment corridor. The community is also home to the Florida Center for Innovation at Tradition (FCI) Research Park, in which The Torrey Pines Institute for Molecular Studies, Mann Research Center, Martin Memorial Health Systems and Oregon Health & Science University's Vaccine and Gene Therapy Institute have all announced plans to locate.