M.D.C. Holdings Conference Call and Webcast of Fourth Quarter 2002 Results Scheduled for January 9

M.D.C. Holdings, Inc. ( ) today announced that it will be broadcasting a synchronized slide show and audio presentation over the Internet on Thursday, January 9, 2003, at 10:00 a.m. Eastern Standard Time in conjunction with its conference call on its operating results for the fourth quarter ended December 31, 2002. The presentation can be accessed by entering the M.D.C. Holdings, Inc. website, , clicking on "Investor Relations" and selecting "M.D.C. Holdings 2002 Fourth Quarter Conference Call."

MDC, whose subsidiaries build homes under the name "Richmond American Homes," is one of the largest 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. The Company is the largest homebuilder in Colorado; among the top five homebuilders in Northern Virginia, Phoenix, Tucson and Las Vegas; among the top ten homebuilders in suburban Maryland, Northern California and Southern California; and has recently entered the Salt Lake City and Dallas/Fort Worth markets.

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 VanAllen of Rubenstein
Associates, Inc., +1-212-843-8282,, for M.D.C.
Holdings, Inc.