Message from Management Team

Certain statements on the Site, including statements regarding the MDC Companies' business, financial condition, results of operation, cash flows, strategies and prospects, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terminology such as "likely," "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue," or the negative of such terms and other comparable terminology. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the MDC Companies to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Additional information about the risks and uncertainties applicable to the MDC Companies' business is contained in MDC's filings with the Securities and Exchange Commission, including MDC's Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. The MDC Companies undertake no duty to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. However, any further disclosures made on related subjects in MDC's subsequent filings with the Securities and Exchange Commission, press releases and/or presentations should be considered.

Message from Management Team

At MDC, we do not believe in mediocrity. Our experience, leadership and disciplined approach to business have given us the competitive edge needed to succeed in an ever evolving industry. These characteristics have helped to sustain us through turbulent economic periods and create value for our shareholders.

Our business judgment comes not only from building homes for more than 195,000 families over almost four decades, but also from the hands-on experience our two senior leaders have gained during their combined 80+ years at MDC.

Given the strength of our balance sheet and our industry expertise, we believe we are well positioned for continued success and growth.

We want to extend our appreciation to our employees, subcontractors, customers, business associates and shareowners for their continued support in our ongoing pursuit of operational excellence.



Larry A. Mizel
Chairman and CEO

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