OTCBB ALERTS

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HomeFed Corporation (OTC BB: HOFD.OB) ("HomeFed")
announced today that its Board of Directors has declared a cash
dividend equal to $0.50 per share of HomeFed common stock payable on
April 10, 2006 to stockholders of record on March 27, 2006.
HomeFed Corporation is engaged, directly and through subsidiaries,
in the investment in and development of residential real estate
projects in the State of California. HomeFed's development projects
currently consist of two master planned communities located in San
Diego County, California: San Elijo Hills, and a portion of the larger
Otay Ranch planning area. As the owner of development projects,
HomeFed is responsible for the completion of a wide range of
activities, including design engineering, grading raw land,
constructing public infrastructure such as streets, utilities and
public facilities, and finishing individual lots for home sites or
other facilities.



KEYWORD: NORTH AMERICA CALIFORNIA UNITED STATES
INDUSTRY KEYWORD: ENERGY UTILITIES CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE DIVIDEND
SOURCE: HomeFed Corporation


CONTACT INFORMATION:
HomeFed Corporation
Erin N. Ruhe, 760-918-8200