McDermott & Bull Executive Search and Cal-Am Properties
Announce the Placement of Stephen P. Grimes as Chief Financial Officer/Controller

Irvine, Calif., January 14, 2008 – McDermott & Bull, a Southern California-based executive search firm, announced today the successful appointment of Stephen P. Grimes as Chief Financial Officer and Controller for Cal-Am Properties in Orange County, California.

In this role, Grimes will be responsible for the coordination, management and oversight of the Company’s financial reporting, accounting, business and financial analysis, business forecasting, and business planning matters. Grimes will join an experienced leadership team with a conservative financial management approach, with a special focus on cash management.

“Cal-Am was in search of a financial leader with the ability to lead a team and simultaneously serve as member of the team, and I have a distinct impression that Steve possesses an excellent set of personal and leadership traits to fit these needs,” commented Jeff Black, the Principal Consultant at McDermott & Bull that spearheaded this search.  “Steve brings to Cal-Am a wealth of experience leading large and diverse financial teams, and along with his strong IT orientation, he is ideally suited for this role with Cal-Am.  I am very excited about this partnership.” 

Prior to joining Cal-Am Properties, Grimes was Vice President of Finance at Bandai America, Inc. where he oversaw monthly financial report to parent company, detailed quarterly report package, and quarterly review and annual audit by external auditors. Grimes established detailed financial reporting for multiple business units within the corporate structure.

Grimes received a Bachelor of Science in Business Administration, with honors, with an emphasis in accounting from the University of Southern California in Los Angeles, California.

About Cal-Am Properties
Founded in 1988, Cal-Am Properties, Inc. (www.cal-am.com) is one of the largest privately held owners/operators of Manufactured Housing Communities, RV Resorts and Apartment management in the United States. The communities and resorts are located in the most popular living and recreation areas: Arizona, California, Florida, Minnesota, Nevada, Ohio, Oregon and Washington. The Cal-Am Properties headquarters resides in Costa Mesa, California. The five Regional Offices are strategically located across the United States to provide the Five-Star quality service and support guests and residents have come to expect from a Cal-Am community.

About McDermott & Bull
McDermott & Bull, Inc. (www.mbsearch.net) is a retained executive search firm headquartered in Irvine, California with offices in Los Angeles, San Diego, Inland Empire and Denver, CO. The firm serves both public and privately held clients in a variety of industries and functional areas. McDermott & Bull has developed expertise in fields including Technology, Financial Services, Manufacturing, Bio-tech and Life Science, Retail, the Building Industry, Professional Services, and others. Founded by Christopher Bull and Rodney McDermott, the firm specializes in recruiting difficult-to-find and critical senior level talent for its clients. McDermott & Bull works with a large number of prestigious clients in many industries.  Some notable clients include Allergan, Advanced Medial Optics, Aramark, Cisco Systems, Western Digital, Conexant, Google, Invitrogen, Bausch and Lomb, Black & Decker, Harbor Freight, Boeing, Meggitt PLC, J.F. Shea and Union Bank.