Yanone Arrow Head

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Hilton Head Properties brings back Robert 'Bob' Young as CFO

DALLAS, TEXAS -- June 15, 2009 --

Hilton Head Properties, Inc., (http://www.hiltonheadproperties.net) announced today that they have hired Robert 'Bob' Young (former HHP Director and CFO) back as both a Director and the company's CFO.

"Bob was a great asset to Hilton Head during its growth phase - but with his home in Houston, TX we lost him when we moved our corporate office to Dallas, TX." stated Chase Fonteno, President/CEO "but he has agreed to come back on board both HHP and our Hilton Head Finance subsidary as we get to the final phase of turning the company back around and back into profitability - and as we begin to review our options towards preparing for a large SEC registered debt offering we are hoping to pursue."

Fonteno further stated "Bob's background including numerous positions of oversight with public companies and even working at the SEC for years are what this company needs to get it back in line, on its feet and prepared for the rigors of a full audit and registration review."

Mr. Young has more than 30 years of experience in public auditing, banking relationships and SEC reporting. Mr. Young was formerly Controller/CFO of SKF Industries, a NYSE-listed international steel and bearings company, in addition to being an Audit Partner with Arthur Andersen and a former Chief Accountant at the Securites and Exchange Commission.

Mr. Young received his B.A. in Accounting from Beloit College and an MBA from the Stanford Graduate School of Business.

"I look forward to working again with Chase Fonteno and the Hilton Head Properties team as we work towards turning the company around and head towards the next level" stated Robert Young

Hilton Head Properties is a Real Estate Investment Company focused primarily on very distressed single and multifamily properties. Hilton Head Finance is its wholly owned Mortgage Holding and Management Company.

Forward-Looking Statement

The information contained herein includes forward-looking

statements. These statements relate to future events or to our future

financial performance, and involve known and unknown risks,

uncertainties and other factors that may cause our actual results,

levels of activity, performance, or achievements to be materially

different from any future results, levels of activity, performance or

achievements expressed or implied by these forward-looking statements.

You should not place undue reliance on forward-looking statements

since they involve known and unknown risks, uncertainties and other

factors which are, in some cases, beyond our control and which could,

and likely will, materially affect actual results, levels of activity,

performance or achievements. Any forward-looking statement reflects

our current views with respect to future events and is subject to

these and other risks, uncertainties and assumptions relating to our

operations, results of operations, growth strategy and liquidity. We

assume no obligation to publicly update or revise these

forward-looking statements for any reason, or to update the reasons

actual results could differ materially from those anticipated in these

forward-looking statements, even if new information becomes available

in the future. The safe harbor for forward-looking statements

contained in the Securities Litigation Reform Act of 1995 protects

companies from liability for their forward looking statements if they

comply with the requirements of the Act.

For more information:

Hilton Head Properties, Inc.

400 N St Paul, 14th Floor

Dallas, TX 75202




Copyright FreePress 2009

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