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Toll Brothers City Living Announces First Closings At The Touraine Luxury Boutique Condo Building Located At 65th Street And Lexington Avenue

About Toll Brothers City Living

Toll Brothers City Living® is the urban development division of Toll Brothers, Inc. (NYSE:TOL), the nation's premier builder of luxury homes. Toll Brothers City Living is bringing the same quality, value and service familiar to luxury home buyers throughout the country, to some of the most dynamic urban markets including Manhattan, Brooklyn and Queens in New York City; Hoboken and Jersey City, New Jersey; Philadelphia, Pennsylvania; and Greater Washington, D.C. metro area. Since entering the urban metro New York City market in 2003, Toll Brothers has completed 16 buildings of approximately 2,800 units, of which nearly all have been sold; and is currently in construction on five buildings of 510 units with seven more buildings of approximately 1,200 units in planning. Toll Brothers City Living communities combine the energy of an urban lifestyle with unparalleled amenities, spectacular architecture, energy-efficient home design, and the expertise of the nation's leading builder of luxury homes. Additional information is available at www.TollBrothersCityLiving.com and www.TollBrothers.com .

Toll Brothers, Inc. is the nation's leading builder of luxury homes. The Company began business in 1967 and became a public company in 1986. Its common stock is listed on the New York Stock Exchange under the symbol "TOL." The Company serves move-up, empty-nester, active-adult, and second-home buyers and operates in 19 states: Arizona, California, Colorado, Connecticut, Delaware, Florida, Illinois, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New York, North Carolina, Pennsylvania, Texas, Virginia, and Washington.

Toll Brothers builds an array of luxury residential communities, principally on land it develops and improves: single-family detached and attached home communities, master planned resort-style golf communities, and urban low-, mid- and high-rise communities. The Company operates its own architectural, engineering, mortgage, title, land development and land sale, golf course development and management, home security, and landscape subsidiaries. The Company also operates its own lumber distribution, house component assembly, and manufacturing operations. The Company acquires and develops commercial properties through Toll Commercial and its affiliate, Toll Brothers Realty Trust, and purchases distressed loan and real estate asset portfolios through its wholly owned subsidiary, Gibraltar Capital and Asset Management.

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