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M.D.C. Holdings, Inc. , today announced that it has achieved a ranking of 437 on the 2006 FORTUNE 500 list of America's largest companies compiled by FORTUNE magazine. Companies on the list are selected and ranked based on total revenue for the prior year. MDC improved 29 spots from last year's ranking, largely based on its 22% year-over-year revenue growth in 2005. In addition, the Company ranked 8th in total return to shareholders for a ten-year period, 14th in ten-year growth in profits and 280th in total profits in 2005.

"We are honored to be recognized among America's largest and most profitable companies after our 10th consecutive year of earnings growth," said Larry A. Mizel, MDC's chairman and chief executive officer. "Our results demonstrate our ability to leverage a conservative capital structure and disciplined operating strategy to succeed in a variety of market conditions. We believe these principles, combined with a focus on building high quality homes and providing superior customer service, are a solid foundation for generating strong returns that enhance long-term value for our shareowners."

MDC is one of 12 publicly traded homebuilding companies on FORTUNE's list.

Among all industries represented in the FORTUNE 500, the homebuilding industry ranked #1 in five and ten-year returns to shareholders for the second consecutive year.

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 ranks among the top five homebuilders in Colorado, Northern Virginia, suburban Maryland, Phoenix, Tucson, Las Vegas, Jacksonville and Salt Lake City; and among the top ten homebuilders in Northern California and Southern California. MDC also has established operating divisions in West Florida, Delaware Valley, Chicago, Dallas/Fort Worth and Houston. For more information about our Company, please visit RichmondAmerican.com.

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