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M.D.C. Holdings Announces Plan for Senior Finance Leadership

PR Newswire

DENVER

DENVER, Dec. 28, 2011 /PRNewswire/ -- On Friday, December 23, 2011, M.D.C. Holdings, Inc. (NYSE: MDC) disclosed on Form 8-K the resignation of Vilia Valentine, Vice President – Finance, Corporate Controller and Chief Accounting Officer, effective as of January 4, 2012. The Company agreed to retain Ms. Valentine, on a consulting basis, to continue to serve as the Company's principal financial officer and principal accounting officer through the date the Company files its Form 10-K for the year ending December 31, 2011, which is anticipated to occur on or about February 2, 2012. The Company has determined that, during the period of the consulting arrangement, it will actively pursue the replacement for its Chief Financial Officer position, which previously had been vacated.

About M.D.C. Holdings, Inc.

Since 1972, MDC's subsidiary companies have built and financed the American dream for more than 165,000 families. MDC's commitment to customer satisfaction, quality and value is reflected in each home its subsidiaries build. MDC is one of the largest homebuilders in the United States. Its subsidiaries have homebuilding operations across the country, including the metropolitan areas of Denver, Colorado Springs, Salt Lake City, Las Vegas, Phoenix, Tucson, Riverside-San Bernardino, Los Angeles, San Francisco Bay Area, Washington D.C., Baltimore, Philadelphia, Jacksonville and Seattle. The Company's subsidiaries also provide mortgage financing, insurance and title services, primarily for Richmond American homebuyers, through HomeAmerican Mortgage Corporation, American Home Insurance Agency, Inc. and American Home Title and Escrow Company, respectively. M.D.C. Holdings, Inc. is traded on the New York Stock Exchange under the symbol "MDC." For more information, visit www.mdcholdings.com.

SOURCE M.D.C. Holdings, Inc.

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The Richmond American Homes companies (RAH), HomeAmerican Mortgage Corporation (HMC), American Home Insurance Agency (also known as AHI Insurance Agency) (AHI) and American Home Title and Escrow Company (AHT) are owned, directly or indirectly, by M.D.C. Holdings, Inc. and, therefore, are affiliated companies. Each of RAH, HMC, AHI and AHT offers services independently of each other, and if you obtain a product or service from one company, you are not required to utilize the services of, or obtain products from, the other company. Your decision to use a company that is not affiliated with RAH, HMC, AHI or AHT will not affect your ability to obtain products and services from these companies. See licensing information.

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Certain statements on the Site, including statements regarding the MDC Companies' business, financial condition, results of operation, cash flows, strategies and prospects, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terminology such as "likely," "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue," or the negative of such terms and other comparable terminology. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the MDC Companies to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Additional information about the risks and uncertainties applicable to the MDC Companies' business is contained in MDC's filings with the Securities and Exchange Commission, including MDC's Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. The MDC Companies undertake no duty to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. However, any further disclosures made on related subjects in MDC's subsequent filings with the Securities and Exchange Commission, press releases and/or presentations should be considered.

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