Tuesday  August  10,  1:24  pm  Eastern  Time

Company  Press  Release

SOURCE:  Newmark  Homes  Corp.

Pacific  Realty  Group  Engaged  in
Discussions  Related  to  Its  Equity  Interests  in  Newmark
Homes  Corp.

HOUSTON,  Aug.  10 /PRNewswire/ __ Newmark Homes Corp. (Nasdaq: NHCH _ news; the
"Company")  announced  today that Pacific Realty Group, Inc. ("the Parent")  has
informed  the Company that the parent is engaged in preliminary discussions with
a  foreign  company  for  a  transaction  involving all or a portion of Parent's
common  stock holdings in the Company. As of August 10, 1999, the Parent was the
owner  of  80%  of  the  outstanding  common  stock  of  the  Company.

Newmark Homes Corp. (Newmark) designs, builds and sells single_family residences
in  Texas,  Florida,  Tennessee  and  North  Carolina.  As of June 30, 1999, the
Company  operated  in  69  subdivisions and has closed 905 homes with an average
sales  price  of  $236,000  for  the  six-month  period  then  ended.

SOURCE:  Newmark  Homes  Corp.