At MDC, we do not believe in mediocrity. Our experience, leadership and disciplined approach to business have given us the competitive edge needed to succeed in an ever evolving industry. These characteristics have helped to sustain us through turbulent economic periods and create value for our shareholders.

Our business judgment comes not only from building homes for more than 200,000 families over more than four decades, but also from the hands-on experience our two senior leaders have gained during their combined 80+ years at MDC.

Given the strength of our balance sheet and our industry expertise, we believe we are well positioned for continued success and growth.

We want to extend our appreciation to our employees, subcontractors, customers, business associates and shareowners for their continued support in our ongoing pursuit of operational excellence.

Sincerely, Larry A. Mizel Chairman and CEO



Shareholders and other interested parties may contact the independent Directors and the Board of Directors by sending communications directly to any of the following persons:

Herbert T. Buchwald, Lead Director
P.O. Box 24649, Denver, CO 80224
F: 303.355.2240

Paris G. Reece III, Chairman, Audit Committee
4350 S. Monaco Street, Denver, CO 80237
F: 303.660.3631

David Siegel, Chairman, Corporate Governance/Nominating Committee
1800 Avenue of the Stars, Suite 900, Los Angeles, CA 90067-4276.

Any communications that come within the purview of a Board committee and/or the Board will be forwarded to the committee chair and the Lead Director, as applicable.