Richmond American Homes Enters Dallas/Fort Worth

M.D.C. Holdings, Inc. ( ), one of the nation's largest homebuilders building under the name Richmond American Homes, today announced its expansion into the Dallas/Fort Worth Metroplex. John R. Smith has joined the Company as President of this new division.

Mr. Smith has 25 years of experience in the homebuilding industry, including over 13 years in Dallas/Fort Worth. Most recently, Mr. Smith served as President of Morrison Homes' Dallas Division managing all aspects of their start-up operation.

David D. Mandarich, MDC's President and Chief Operating Officer, commented, "The overall strength of the Dallas/Fort Worth market has led us to expand in this area. We are seeking to benefit from the positive economic forces driving growth in the Dallas/Fort Worth market and are very pleased to have John's depth and breadth of experience to guide us in our start-up efforts."

M.D.C. Holdings reached new heights in 2001, completing the best year in the Company's 30-year history. The Company generated more than $2.1 billion in revenues and closed 8,174 homes. In order to facilitate the continued quality growth of their enterprise, MDC is committed to pursuing strategic and opportunistic expansion into new markets.

MDC is one of the largest and best performing homebuilders in the United States. The Company also provides mortgage financing, primarily for MDC's homebuyers, through its wholly owned subsidiary HomeAmerican Mortgage Corporation. 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 Colorado; among the top five homebuilders in northern Virginia, Phoenix and Tucson; among the top ten homebuilders in suburban Maryland, Las Vegas, and Northern California; and has a significant presence in South California.


SOURCE: M.D.C. Holdings, Inc.

Contact: Paris G. Reece III, Chief Financial Officer of M.D.C. Holdings,
Inc., +1-303-804-7706,; or Rodger Van Allen of Rubenstein
Associates, Inc., +1-212-843-8000,, for M.D.C.
Holdings, Inc.