Hamptons Luxury Homes Continues to Outperform Construction Services Companies

Reports First Quarter Revenue Growth of 182% and Fifth Consecutive Quarter of Profitability

Bridgehampton, NY (May 16. 2008) – Hamptons Luxury Homes, Inc. (OTCBB:HLXH), a construction services company that builds and renovates multi-million dollar estate homes in the Hamptons area of Long Island, New York, reported another quarter of revenue growth and profitability, marking the fifth consecutive profitable quarter for the company during a period when many within the industry have encountered difficult times.

For the quarter ending March 31, 2008, Hamptons Luxury Homes reported contract and service revenues of $2,757,394, an approximately 182% increase over 2006 first quarter contract and service revenues of $978,739. The Company also reported net income of $124,760 for the three months ended March 31, 2008, an increase of $50,496 or 68% from the $74,264 recorded for the comparable period in 2007.

Frank Dalene, Vice President and Chief Financial Officer of Hamptons Luxury Homes, said: “We continue to see our results reflect the success of initiatives that we put in place last year to grow our business. The increase in our contract and service revenues for this quarter was due to an increase in construction activity for the period as a direct result of our increased sales and marketing efforts.” Dalene added that the company ended the quarter with $169,989 cash on hand as well as working capital of approximately $1,051,000. “We had retained earnings as of March 31, 2008 of $608,105 and it is expected that cash flows from our existing contracts and our current assets, including cash and accounts receivable, will be sufficient to fund our liquidity and capital requirements for the next 12 months.” He further noted that cash flows provided by operations were $48,227 for the quarter ending March 31, 2008.

The company also reported that it has backlog and committed contracts of approximately $5.1 million of work as of May 12, 2008 and approximately $14.4 million of bids outstanding, although, he cautioned, that there can be no assurance that all or any of such bids or other potential work will result in contract commitments. .

Full results for the quarter are reported in Hamptons Luxury Homes’ 2008 first quarter Form 10-Q filed with the U.S. Securities and Exchange Commission on May 15, 2008. The Form 10-Q is available at the SEC’s website: http://www.sec.gov and at the Company’s website: http://www.hlxhomes.com.

Hamptons Luxury Homes, Inc. (www.hlxhomes.com) is a regional construction services company that builds and maintains custom homes, luxury vacation homes and ultra-luxury estate homes throughout the eastern end of Long Island, New York, with its principal offices located in Bridgehampton, New York. The Company’s wholly owned subsidiary, Telemark Inc. is a nationally recognized and award winning ultra-luxury homebuilder. The Company maintains an industry leading reputation for construction of luxury vacation homes from foundation to completion, with values ranging up to $60 million. Hamptons Luxury Homes combines ultra-high quality materials with superb old-world craftsmanship to create the ultimate in luxury homes with outstanding aesthetic appeal. Already a recognized and well-established entity in the exclusive environs of the Hamptons on Long Island, the company intends to expand into similar luxury markets in the United States. The Company's wholly-owned subsidiaries include: Telemark Service and Maintenance, Inc., which provide ongoing property management, maintenance and service; Bridgehampton Lumber Corp., supplying building material and an independent dealer of The Barden & Robeson Corporation; DWD Construction Services, Inc. which performs construction administration and advisory services in connection with the construction of homes and business development of major commercial projects. Telemark, Inc. is a 50% partner in Architectural Woodwork of the Hamptons, LLC, which manufactures and installs custom millwork, custom cabinetry, custom built-ins and furniture. The Company owns a 10% interest in Northway Island Associates, Inc., a company planning the development of a multi-facetted entertainment resort complex in St. Lawrence County, New York. DWD Construction Services is presently acting as the Owner’s Representative for Northway Island Associates.

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3B-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including without limitation, statements regarding the potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Contact: Bev Jedynak
Martin E. Janis & Company, Inc.
312-943-1123
bjedynak@janispr.com