Will manufacture two new innovative foundation systems for factory-built housing

Portland, Oregon - Factory built housing industry veteran, Al Preusch, has announced the formation of FoundationWorks, Inc, with the acquisition of Magnum Foundation Systems, Inc. (dba Advanced Foundation Systems) The newly formed company, FoundationWorks, will manufacture and distribute two innovative proprietary foundation systems designed to deliver superior performance at lower cost for the factory-built housing industry.

Preusch, former partner with Deloitte & Touche and former CEO/Chairman of Guerdon Homes, will act as chairman and interim CEO while a management team for the new company is being assembled. "FoundationWorks, Inc is bringing two new products, the FW Primary Support Columns (PSC), and the FW Perimeter Support System (PSS), that will revolutionize foundation and perimeter systems in the factory built housing industry," said Preusch. "The PSC system is strong enough to provide all types of hazardous environment protection, including earthquake and high winds, yet flexible enough to work with almost every site condition. Equally exciting is the new PSS offering structural perimeter support and a true residential look. The systems qualify as a permanent foundation for conventional, FHA and VA financing; are quicker to install, in a manner of hours vs. days, and are about half the price of poured systems." said Preusch.

FoundationWorks, Inc. is currently manufacturing in Cottage Grove, Oregon, with West Coast distribution. Sales and marketing will be out of the company's offices in Portland, Oregon. The company will be expanding for national distribution with manufacturing and sales locations across the country.

Said Preusch: "FoundationWorks' proprietary products will have national brand identity with local delivery and support, unlike any foundation product the industry has ever seen." While there is great opportunity in new factory built housing, the bigger opportunity could be in the retrofit market. As many as 25% of the existing 9.3 million manufactured homes will require foundation upgrades in the next several years. The demand to upgrade comes from permanent foundations being required for buyer financing, homes being moved from parks to private land, and for safety and regulatory requirements. "We are very excited about the potential of the retrofit market." said Preusch. "Our patented systems' ease of installation, superior strength and residential character, all at a low cost, are very attractive to existing homeowners."

FoundationWorks, Inc. is the latest venture for Preusch, who has been involved with the management, finance, and acquisition of many companies throughout his career. FoundationWorks, Inc. is a return to the factory-built housing industry for Preusch, who in 1990 lead the acquisition of Guerdon Homes, Inc. As Chairman and CEO of the company, Preusch led Guerdon through a dramatic growth period where revenues increased from $30 million to $100 million, and became the largest housing producer headquartered in the Northwest. Recent companies developed by Preusch while serving as an active chairman include 20/20 Software, Inc., Fios, Inc., Air Advice, Inc., and Ethicspoint, Inc. (Also see Preusch Capital)

Outstanding leadership will guide FoundationWorks. The Council of Advisors includes national and regional industry leaders. From the national stage, members include George Porter, the national authority on the science of manufactured housing installations (www.george-porter.com); and Nicholas St. George, formerly Chairman and CEO of Oakwood Homes, 5 times the industry CEO of the year. Outstanding regional industry executives include leaders of the following organizations: John Lee and Keith Padgett, Coach Corral Homes; Mathew Conser, Conser Homes; Del and Paul Detray, Detray's Homes; Leading Industry Attorney Mark O'Donnell; Curtis Richards, Palm Harbor Homes; Terry Travess, Great Western Homes, and Greg Harmon, Commonwealth Real Estate Services and President of the Oregon Manufactured Housing Association. Joining Preusch on the FoundationWorks Board of Directors are: Bob Linse, Founder of Magnum and inventor of FoundationWorks' proprietary systems, General Merrill A. "Tony" McPeak (USAF Retired), formerly Chief of Staff of the US Air Force and member of the Joint Chiefs of Staff; and Dr. Dwight Sangrey, who brings his years of experience as an educator (President of Oregon Graduate Institute; Dean of Engineering of Rensselaer Polytechnic Institute; Head of Department of Civil Engineering of Cornell University), and as an executive and director of many well-known private and public companies in Oregon.