M.D.C. Holdings Conference Call and Webcast of Second Quarter 2003 Results Scheduled for July 15

M.D.C. Holdings, Inc. ( ) today announced that it will release second quarter 2003 earnings on Tuesday, July 15, 2003, prior to the market opening. A synchronized slide show and audio presentation will be broadcast over the Internet on Tuesday, July 15, 2003, at 10:00 a.m. Eastern Daylight Time in conjunction with its conference call. The presentation can be accessed by entering MDC's website, , clicking on "Investor Relations" and selecting "M.D.C. Holdings 2003 Second 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; and among the top ten homebuilders in suburban Maryland, Northern California, Southern California and Salt Lake City. MDC also has a growing presence in Dallas/Fort Worth and has recently entered the Houston and Philadelphia/Delaware Valley 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 Robert Solomon of Rubenstein
Associates, Inc., +1-212-843-8050,, for M.D.C.
Holdings, Inc.