Sun Communities Announces Extension of Consent Date for Its Cash Tender Offer and Consent Solicitation for Its Unsecured Notes

Business Wire, April 22, 2004

Business Editors

SOUTHFIELD, Mich.--(BUSINESS WIRE)--April 22, 2004

Sun Communities, Inc. (NYSE:SUI) (the "Company") and Sun Communities Operating Limited Partnership, a majority-owned subsidiary of the Company ("SCOLP"), today announced the extension of the Consent Date in connection with their previously announced tender offer and consent solicitation in respect of any and all of SCOLP's outstanding unsecured notes (the "Notes"). The Consent Date has been extended to 5:00 p.m., New York City time, on April 22, 2004, unless such date is further extended in the Company's sole discretion.

The Company is currently evaluating all of its available alternatives in the event that the holders of a majority in aggregate principal amount of the Notes do not validly tender their Notes on or prior to the Consent Date. These alternatives include waiving the minimum tender condition to purchasing tendered Notes, purchasing such tendered Notes and defeasing the remainder of the Notes in accordance with the terms of the indenture governing the Notes.

The terms of the tender offer and consent solicitation, except for the new Consent Date, are described in the Offer to Purchase and Consent Solicitation Statement, dated April 8, 2004. This announcement amends and supplements the Offer to Purchase and Consent Solicitation Statement solely with respect to the Consent Date. All other terms and conditions of the Offer and Consent Solicitation Statement remain in full force and effect.

The Company has retained Lehman Brothers Inc. and Banc One Capital Markets, Inc. to act as the dealer managers in connection with the tender offer and as the solicitation agents in connection with the consent solicitation. Questions regarding the tender offer or consent solicitation should be directed to Lehman Brothers Inc. at (800) 438-3242 or (212) 528-7581 (collect). Requests for assistance or additional sets of the offer materials may be directed to DF King & Co., Inc., the information agent and tender agent for the tender offer and consent solicitation, at (800) 431-9642 (banks and brokers may also call (212) 269-5550 (collect)).

This press release does not constitute an offer to purchase, a solicitation of an acceptance of the tender offer or a solicitation of Consents with respect to the Notes, which may be made only pursuant to the terms of the Offer to Purchase and Consent Solicitation Statement and related documents.

Sun Communities currently owns and operates a portfolio of 127 communities mainly in the Midwest and Southeast United States. The Company's properties are comprised of over 43,870 developed sites and approximately 6,750 additional sites available for development.

For more information about Sun Communities, Inc. visit our website at www.suncommunities.com