WLS Welsh Property Trust Common Stock

William Lyon Homes (NYSE:WLS) expects to release third quarter 2005 earnings results on Wednesday, November 9, 2005, after the market closes. The conference call will be held on Thursday, November 10, 2005 at 11:00 a.m. Pacific Time. The dial-in number is (866) 770-7129 (enter passcode number 11061305). Participants may call in beginning at 10:45 a.m. Pacific Time. In addition, the call will be broadcast from William Lyon Homes' website at www.lyonhomes.com in the "Investor Relations" section of the site. The call will be recorded and replayed beginning on November 10, 2005 at 1:00 p.m. Pacific Time, through midnight on December 2, 2005. The dial-in number for the replay is (888) 286-8010 (enter passcode number 82369476). Replays of the call will also be available on the Company's website approximately two hours after broadcast. William Lyon Homes is primarily engaged in the design, construction and sales of new single-family detached and attached homes in California, Arizona and Nevada. The Company's corporate headquarters are located in Newport Beach, California. For more information about the Company and its new home developments, please visit the Company's website at www.lyonhomes.com.