Zacks' High Rank Value Strategy Highlights: CBL & Associates Properties, City Holding Co., Entertainment Properties Trust and Harleysville Group

Business Wire, April 28, 2006

CHICAGO -- Many value investors look for stocks trading at Price/Earnings multiples below 15 and Price/Book multiples below 3. Combining these valuation measures with a Zacks Rank of #1 ("Strong Buy") or #2 ("Buy") helps to ensure that a stock is truly undervalued. The High Rank Value Profit Track strategy finds such bargains. This screen generated a 13.7% return in 2005. Four stocks meeting this strategy's exclusive criteria are CBL & Associates Properties, Inc. (NYSE:CBL), City Holding Co. (Nasdaq:CHCO), Entertainment Properties Trust (NYSE:EPR) and Harleysville Group Inc. (Nasdaq:HGIC). View the entire list of stocks for the High Rank Value Profit Track at http://at.zacks.com/?id=2136.

Here are details about four companies currently identified by the High Rank Value Profit Track:

CBL & Associates Properties, Inc. (NYSE:CBL) will announce its financial results for the first quarter next week. In early February, the company reported fourth-quarter funds from operations (FFO) of 89 cents per share, outpacing the previous year's result and matching the consensus estimate. CBL said the combination of occupancy gains, healthy rental rate increases from leasing, continued growth in mall shop sales, and contributions from new developments and acquisitions led to an impressive performance in the fourth quarter and a strong finish for the year. The company has a price-to-earnings (P/E) multiple of 11.84 and price-to-book (P/B) multiple of 2.34.

City Holding Co. (Nasdaq:CHCO) offers a price-to-earnings (P/E) multiple of 12.59 and a price-to-book (P/B) multiple of 2.25. The company recently released first-quarter earnings of 71 cents per share, which topped last year's 69 cents. CHCO is a multi-bank holding company that provides diversified financial products and services to consumers and local businesses.

Entertainment Properties Trust (NYSE:EPR) satisfies the criteria for this Profit Track with a price-to-earnings (P/E) multiple of 12.45 and price-to-book (P/B) multiple of 1.60. The company announced fourth-quarter funds from operations of 87 cents per share in late February. The result eclipsed the year-prior total of 79 cents and matched analysts' expectations. EPR will release its results for the first quarter next week.

Harleysville Group Inc. (Nasdaq:HGIC) recently posted first-quarter earnings per share that beat the consensus estimate by almost 9% and outperformed the year-ago earnings. The company noted that it has had an excellent start in 2006 as its statutory combined ratio improved by 5 points to 99.2 percent and its operating ROE was 12.0 percent. Harleysville Group's shares offer a price-to-earnings (P/E) multiple of 14.35 and a price-to-book (P/B) multiple of 1.45.

Discover all the current stocks currently on the High Rank Value Profit Track at: http://at.zacks.com/?id=2137.

About Profit Tracks

What is a "Profit Track"? Each Profit Track is a successful stock picking strategy with proven results through the Bear Market of 2001-2002 and the Bull run started in 2003. On Zacks.com we have created these nine unique screens to offer investors great strategies to potentially outperform the market in the years ahead. In 2005, the Low Price Stocks strategy was the top performing Profit Track with a return of 51.9% followed by the Recent Price Strength screen with a 35.5% return. To see all nine strategies along with philosophy, past performance, and current stocks, go to http://at.zacks.com/?id=1838

All the Profit Track strategies were created and backtested using the Research Wizard software from Zacks Investment Research. If you like this screening strategy, but want to narrow down the list of stocks and even improve the performance, then you should start a free trial to this powerful stock picking tool. Learn more about the Research Wizard free trial offer and our new special report "Top 10 Stock Screening Strategies" at http://at.zacks.com/?id=2156

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