M.D.C. Holdings, Inc.
April 2001 2000 Orders for Homes, net Colorado 265 255 California 124 187 Arizona 168 165 Nevada 67 73 Northern Virginia/Suburban Maryland 91 91 Total 715 771
Orders in Southern California were lower in April 2001 than in April 2000, primarily due to a temporary reduction in the number of active subdivisions in that market, as well as delays in receiving governmental approvals that would enable the Company to report orders in several new subdivisions. The Company anticipates adding seven new active subdivisions in Southern California during the next 90 days.
MDC, whose subsidiaries build homes under the name "Richmond American Homes," is one of the largest homebuilders in the United States. The Company's wholly owned subsidiary HomeAmerican Mortgage Corporation provides mortgage financing primarily for MDC's home buyers. MDC is a major regional homebuilder with a significant presence in some of the country's best housing markets. Richmond American Homes is the largest homebuilder in metropolitan Denver; among the top five homebuilders in northern Virginia, suburban Maryland, Phoenix, Tucson, Las Vegas and Colorado Springs; and among the top ten homebuilders in Southern California and Northern California.
Statements in this release related to the Company's anticipated active subdivisions constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among other things, (1) general economic and business conditions; (2) interest rate changes; (3) the relative stability of debt and equity markets; (4) competition; (5) the availability and cost of land and other raw materials used by the Company in its homebuilding operations; (6) demographic changes; (7) shortages and the cost of labor; (8) weather related slowdowns; (9) slow growth initiatives; (10) building moratoria; (11) governmental regulation, including the interpretation of tax, labor and environmental laws; (12) changes in consumer confidence and preferences; (13) required accounting changes; and (14) other factors over which the Company has little or no control.
SOURCE: M.D.C. Holdings, Inc.
Contact: Paris G. Reece III, Chief Financial Officer of M.D.C. Holdings,
Associates, Inc., 212-843-8007,