CHCI Comstock Holding Companies Inc

Leading Real Estate Developer Joins the Chevron 5,000,000 Mile Rideshare Challenge RESTON, Va., July 26 /PRNewswire/ -- NuRide, Inc. (http://www.nuride.com/), the nation's first incentive-based ridesharing network, announced today that Comstock Homebuilding Companies, Inc., (NASDAQ:CHCI) a leading real estate developer in the Greater Washington D.C. Metropolitan Area, will sponsor thousands of commuters who share rides resulting in 250,000 fewer miles driven on local area roads. Participating commuters will earn up to $1,000 toward the purchase of a new home from one of Comstock's twelve area developments. Comstock joins a growing list of sponsors supporting the Chevron 5,000,000 Mile Rideshare Challenge, a regional event that brings together commuters and corporations to alleviate traffic congestion, reduce air pollution, and save commuters money on gas. "We were immediately attracted to the Chevron Challenge because of the unique way that it is bringing together organizations and commuters to improve our local communities," said Bryan Murray, Vice President of Strategic Planning for Comstock Homebuilding Companies, Inc. "We hope that our sponsorship will help reduce traffic congestion and air pollution for Comstock home buyers, for Comstock employees, and for all of our neighbors in the Greater Washington D.C. Metropolitan Area." "Comstock has been building incredible communities in the D.C. region for years," said Rick Steele, Chief Executive Officer of NuRide. "Thanks to their support, NuRiders will be able to reward themselves for easing traffic congestion in the area by enjoying their new Comstock homes." The Chevron 5,000,000 Mile Rideshare Challenge was launched in Washington D.C. on February 28, 2006. The event will involve over 5,000 commuters who will share rides resulting in 5,000,000 fewer miles driven and over 200,000 gallons of gasoline being conserved. To participate in the program, commuters use NuRide's innovative online ridesharing program to find other people going their way. The NuRide web site calculates the savings for each trip and awards participants with points for each confirmed ridesharing trip, which can then be redeemed with participating sponsors for gift cards, gift certificates, show tickets and various other rewards. About NuRide, Inc. NuRide was founded on the belief that individuals who share rides provide a valuable service to their community and should be rewarded for their efforts. Through the patent-pending NuRide Network(R), individuals can easily arrange ridesharing trips and earn rewards for every confirmed trip they take. Members accumulate "NuRide Miles" that can be used toward a variety of rewards that are made possible through the generosity of NuRide's sponsors. For more information, please visit http://www.nuride.com/. About Comstock Homebuilding Companies, Inc. (NASDAQ:CHCI) Comstock is a production homebuilder and real estate developer that develops, builds, and markets single-family homes, townhouses, mid-rise condominiums and high-rise condominiums. The Company currently builds in the Southeast with concentrations in the Washington, D.C., North Carolina, South Carolina and Atlanta, Georgia, markets. The Company targets a diverse range of buyers, including first-time, early move-up, secondary move-up, empty nester move-down and active adult home buyers. For more information on Comstock Homebuilding Companies, Inc., please visit http://www.comstockhomebuilding.com. Contact: Guillermo Sohnlein, NuRide, (703) 652-7405 x113, Bryan Murray, Comstock, (703) 883-1700 x217, DATASOURCE: NuRide, Inc. CONTACT: Guillermo Sohnlein of NuRide, +1-703-652-7405 x113, ; or Bryan Murray of Comstock, +1-703-883-1700 x217, Web site: http://www.nuride.com/ http://www.comstockhomebuilding.com/

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