CENTURY HOUSING CORPORATION

CENTURY HOUSING CORPORATION CENTURY HOUSING AND ITS CONTROLLED AFFILIATES PROVIDE CERTAIN BUSINESS ACTIVITIES AND SERVICE PROGRAMS TO COMMUNITIES WITHIN THE STATE OF CALIFORNIA. THE FOLLOWING ARE THE SIGNIFICANT ACTIVITIES:AFFORDABLE HOUSING FINANCING - CENTURY HOUSING OPERATES PRIMARILY AS A LENDER TO DEVELOPERS, BUILDERS AND OTHER NONPROFIT ENTITIES TO PROVIDE AND MAINTAIN AFFORDABLE HOMES.AFFORDABLE HOUSING DEVELOPMENT AND MANAGEMENT - CENTURY AFFORDABLE DEVELOPMENT INC. ("CADI") ENGAGES IN THE DEVELOPMENT, PRESERVATION AND LEASING OF AFFORDABLE HOUSING. CENTURY VILLAGES AT CABRILLO INC. ("CVC") ENGAGES IN PROPERTY MANAGEMENT AND THE PROVISION OF SOCIAL SERVICES FOR LOW-INCOME RESIDENTS OF CADI OWNED OR SUBSIDIZED REAL PROPERTIES.