Comstock Homebuilding Companies, Inc. Reschedules 2006 Earnings Conference Call

March 9, 2007

RESTON, VA, Mar 09, 2007 (MARKET WIRE via COMTEX News Network) -- Comstock Homebuilding Companies, Inc. ("Comstock" or the "Company") (NASDAQ: CHCI) today announced that it was rescheduling its 2006 Investor Conference call previously scheduled for Tuesday, March 13, 2007 at 11:00 am EDT until Monday, March 19, 2007 at 1:00 pm EDT. Dial-in information remains unchanged. The Company also announced that, based on correspondence with the US Securities and Exchange Commission, it had elected to present its results of operations on a segment basis starting with its Form 10-K for the year ended December 31, 2006. The Company will release its preliminary 2006 results of operations as planned on Monday, March 12 after the close of market. The Company plans to file its 2006 Form 10-K on Friday, March 16, 2007.

"Our audit is nearly completed and we will be ready to release our numbers as scheduled," said Christopher Clemente, Chairman and CEO. "We felt it would be best, however, to postpone the conference call until we have filed our 10-K and are in a position to provide additional clarity on certain ongoing bank covenant modifications."

About Comstock Homebuilding Companies, Inc.

Comstock is a production homebuilder that develops, builds, and markets single-family homes, townhouses, mid-rise condominiums, high-rise condominiums, mixed-use developments and condominium conversions. The Company currently markets its products under the Comstock brand in the Washington, D.C., Raleigh, North Carolina and Atlanta, Georgia markets. The company targets a diverse range of buyers of moderately priced homes. For more information on Comstock, please visit

This press release includes "forward-looking statements" within the meaning of the federal securities laws, which involve uncertainties and risks. These include statements regarding events or developments that the Company expects or anticipates will occur in the future, such as statements about the Company's strategies to improve operating performance. Please refer to the Company's prospectus and its other filings with the Securities and Exchange Commission for a complete discussion of these and other important factors that could cause results to differ materially from those projected by these forward-looking statements.

Bryan L. Murray

SOURCE: Comstock Homebuilding Companies, Inc.