HOMEVESTORS NAMES DR. JOHN HAYES CHIEF EXECUTIVE OFFICER AND CHAIRMAN OF THE BOARD

John Hayes, Ph.D., president and chief operating officer of HomeVestors® of America, Inc., the company famous for its "We Buy Ugly Houses"® billboards, has been promoted to president and chief executive officer and elected chairman of the board of directors.

Dr. Hayes recently replaced the late Ken D’Angelo, who founded HomeVestors in 1989.

Dr. Hayes has been an advisor to HomeVestors for more than three years and was appointed to the company's Board of Directors in Spring 2003. In Fall 2004, he was appointed President & Chief Operating Officer. He is responsible for the leadership and overall performance of HomeVestors, which includes a staff of more than 50 people in Dallas and nearly 250 Franchise locations in more than 20 states.

”The late Ken D’Angelo, HomeVestors’ founder and former Chief Executive Officer made the company the success that it is today." said Dr. Hayes. "I intend to carry forward his vision for the company, his open style of communication, the viability of the operating system, and training and support. It is essential to preserve these values while implementing new business goals and strategies to ensure the company’s longevity and future success."

In addition to his work with HomeVestors, Dr. Hayes is an author, public speaker, seminar leader and consultant to businesses. After 10 years as a college professor, he founded The Hayes Group, a public relations agency which he sold in 1995. For ten years he served as a Director of The Dwyer Group, a franchise conglomerate in Waco , TX . He has served as an Adjunct Professor at the University of Dallas where he has taught a course called Franchising in the MBA program.

Dr. Hayes lives in Frisco , Texas , with his wife, Jo Ann.

About HomeVestors® of America, Inc.
Founded in 1989 and franchising since 1996, Dallas-based HomeVestors® of America, Inc., has more than 240 Franchises throughout the United States . The first Franchise Company of its kind, HomeVestors® trains and supports franchisees who specialize in buying homes in need of repair. Most commonly known as the "We Buy Ugly Houses"® franchise, HomeVestors® strives to make a positive impact in each community. More information is available at www.homevestors.com.