WLS Welsh Property Trust Common Stock

William Lyon Homes (the "Company") announced today that it had been informed by The New York Stock Exchange (the "NYSE") that the NYSE has, on its own initiative, suspended trading in the Company's common stock (NYSE:WLS). The NYSE confirmed that this action will not affect the trading of William Lyon Homes 10 3/4% Senior Notes due April 1, 2013 (Symbol: WLS 13) or 7 1/2% Senior Notes due February 15, 2014 (Symbol: WLS 14). The NYSE has informed the Company that it has information indicating that the amount of publicly held shares of the Company's common stock available for trading is not sufficient for auction market trading. The NYSE further indicated that it intends to make application to the Securities and Exchange Commission to delist the common stock. William Lyon Homes is primarily engaged in the design, construction and sale of single family detached and attached homes in California, Arizona and Nevada. The Company's corporate headquarters are located in Newport Beach, California.