M.D.C. Holdings Announces Entry Into Orlando Market

             M.D.C. Holdings Announces Entry Into Orlando Market

PR Newswire

DENVER, April 3, 2013

DENVER, April 3, 2013 /PRNewswire/ --M.D.C. Holdings, Inc. (NYSE: MDC) today
announced that its Richmond American Homes of Florida subsidiary, which has
been operating in the state for almost 10 years, has closed on the purchase of
its first two homebuilding projects in the Orlando market. The newly purchased
projects, Brynmar and Bella Lago, are scheduled for grand opening in the
second quarter of 2013 and will feature a combined 116 sites with one- and
two-story homes ranging from 2,275 to 4,214 square feet.

"We are pleased to add Orlando to our operational footprint," said David D.
Mandarich, MDC's president and chief operating officer. "Our entry into this
market gives us the opportunity to meaningfully add to our overall presence in
Florida, which has experienced a significant resurgence in homebuilding
activity over the past year."

In addition to the projects already acquired, Richmond American Homes of
Florida also has two projects in Orlando that are under control for potential
purchase, pending feasibility review.

About MDC

Since 1972, MDC's subsidiary companies have built and financed the American
dream for more than 170,000 homebuyers. 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.

Forward-Looking Statements

Certain statements in this release, including statements regarding our
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. Such forward-looking
statements involve known and unknown risks, uncertainties and other factors
that may cause the actual results, performance or achievements of the Company
to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements. Such
factors include, among other things, (1) general economic conditions,
including changes in consumer confidence, inflation or deflation and
employment levels; (2) changes in business conditions experienced by the
Company, including cancellation rates, net home orders, home gross margins,
and land and home values; (3) changes in interest rates, mortgage lending
programs and the availability of credit; (4) changes in the market value of
the Company's investments in marketable securities; (5) uncertainty in the
mortgage lending industry, including repurchase requirements associated with
HomeAmerican's sale of mortgage loans (6)the relative stability of debt and
equity markets; (7) competition; (8) the availability and cost of land and
other raw materials used by the Company in its homebuilding operations;
(9)the availability and cost of performance bonds and insurance covering
risks associated with our business; (10) shortages and the cost of labor; (11)
weather related slowdowns; (12) slow growth initiatives; (13) building
moratoria; (14) governmental regulation, including the interpretation of tax,
labor and environmental laws; (15) terrorist acts and other acts of war; and
(16)other factors over which the Company has little or no control.
Additional information about the risks and uncertainties applicable to the
Company's business is contained in the Company's Form 10-K for the year ended
December 31, 2012. All forward-looking statements made in this press release
are made as of the date hereof, and the risk that actual results will differ
materially from expectations expressed in this press release will increase
with the passage of time. The Company undertakes 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 our subsequent filings, releases or webcasts should be consulted.

SOURCE M.D.C. Holdings, Inc.

Website: http://www.mdcholdings.com
Contact: Robert N. Martin, Vice President of Finance, (720) 977-3431,
bob.martin@mdch.com
 
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