M.D.C. Holdings Announces 2008 Annual Meeting Results and Declares Quarterly Cash Dividend

M.D.C. Holdings, Inc. today announced the results of its annual meeting of the Company's shareowners, which was held on April 29, 2008 (the "Annual Meeting"). A total of 42,353,233 shares out of 46,343,377 shares outstanding and entitled to vote were represented in person or by proxy at the Annual Meeting.

   NUMBER          DESCRIPTION              FOR        WITHHELD

     1A   Election of Directors -        39,166,218    3,187,015
           Nominee: William B. Kemper

     1B   Election of Directors -        42,145,527      207,706
           Nominee: David D. Mandarich

   NUMBER          DESCRIPTION              FOR        AGAINST    WITHHELD

     2    To approve the M.D.C.          23,264,723   13,472,459    20,518
           Holdings, Inc. Amended
           Executive Officer
           Compensation Plan.

     3    To approve a plan amendment    22,909,524   12,869,331   978,845
           to authorize stock option
           repricing and an exchange
           program to reprice stock
           options held by non-executive
           officer employees.

     4                         WITHDRAWN

     5    To vote on a shareowner         1,171,892   35,523,419    62,389
           proposal concerning
           establishment of a new
           compliance committee and
           review of regulatory,
           litigation and compliance

     6    To approve the selection of    42,237,185       86,903    29,145
           Ernst & Young LLP as the
           Company's independent
           registered public accounting
           firm for the 2008 fiscal year.

The Company also announced that its board of directors has declared a regular quarterly cash dividend of twenty-five cents ($.25) per share on the Company's common stock. The dividend will be paid on Wednesday, May 28, 2008 to shareowners of record on Wednesday, May 14, 2008.

Since 1972, MDC has built and financed the American dream for more than 150,000 families. As one of the largest homebuilders in the United States, the Company has homebuilding divisions across the country, including Denver, Colorado Springs, Salt Lake City, Las Vegas, Phoenix, Tucson, California, Chicago, Northern Virginia, Maryland, Philadelphia/Delaware Valley and Jacksonville. The Company also provides mortgage financing, insurance and title services, primarily for MDC homebuyers, through its wholly owned subsidiaries, HomeAmerican Mortgage Corporation, American Home Insurance Agency and American Home Title and Escrow, respectively. M.D.C. Holdings, Inc. is traded on the New York Stock Exchange under the symbol "MDC." For more information, visit

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

CONTACT: Paris G. Reece III, Chief Financial Officer, +1-303-804-7706,, or Robert N. Martin, Investor Relations, +1-720-977-3431,, both of M.D.C. Holdings, Inc.