M.D.C. Holdings Receives Humanitarian Service Award
- Colorado-Based Homebuilder Raised $1.1 Million for 9/11 Victims -

M.D.C. Holdings, Inc. has been presented the Extraordinary Service to Humanity Award by the Bear Search and Rescue Foundation of New York, an organization dedicated to the welfare of canine and human rescue workers. The award was presented in a ceremony at the USS Intrepid Sea-Air-Space Museum on the Hudson River in New York City on September 6, 2003.

MDC executives Larry A. Mizel, chairman and chief executive officer, and Paris G. Reece III, executive vice president and chief financial officer, received the award on behalf of MDC employees, who established a fund for victims and their families of the terrorist attacks of September 11, 2001. The Company raised $1.1 million for individuals, including relief workers, who had been overlooked by other aid organizations.

"Nearing the two-year anniversary of the terrorist attacks on America, we are still humbled by the extraordinary lengths to which our service workers went during this unprecedented disaster. Therefore, it is an honor to be recognized for our company's efforts by the Bear Search and Rescue Foundation," Mizel said. "At MDC, we quickly realized that, as Americans, our only course of action following the tragedy was to get involved and assist the victims in their efforts at restoring their lives back to normal. We are blessed in knowing that more than 350 families received aid from MDC."

The Bear Search and Rescue Foundation was established to address the needs of both canine and non-canine search and rescue (SAR) teams across the country. On September 11, 2001, Captain Scott Shields and his eleven-year-old golden retriever, Bear, traveled to Ground Zero from Greenwich, Connecticut to help in the rescue efforts at the World Trade Center. Bear worked eighteen-hour days and is credited with finding many victims, including the beloved FDNY Chief Peter Ganci. Bear was injured while working the site and ultimately died one year later.

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, San Antonio, Philadelphia/Delaware Valley, West Florida and Chicago markets. For more information, please visit .

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

CONTACT: Paris G. Reece III, Chief Financial Officer, +1-303-804-7706, , or Rachel L. Neumann, Communications Director,
+1-303-804-7729, , both of M.D.C. Holdings, Inc.