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AV Homes, Inc. Announces Repurchase Right Notification for $55,500,000 Aggregate Principal Amount of Its 7.50% Senior

AV Homes, Inc. Announces Repurchase Right Notification for $55,500,000
Aggregate Principal Amount of Its 7.50% Senior Convertible Notes

SCOTTSDALE, Ariz., Jan. 16, 2014 (GLOBE NEWSWIRE) -- AV Homes, Inc.
(Nasdaq:AVHI) (the "Company"), a developer and builder of active adult and
conventional home communities in Florida, Arizona and North Carolina, today
announced that it is notifying the holders of $55,500,000 aggregate principal
amount of its outstanding 7.50% Senior Convertible Notes due 2016 (CUSIP No.
053494 AG5) (the "Notes") that, pursuant to the terms of the Notes and the
indenture governing the Notes, they have the option to require the Company to
repurchase, on February 15, 2014 (the "Specified Date Repurchase Date"), all
or a portion of their Notes (the "Repurchase Right") at a price equal to 100%
of the principal amount of the Notes, plus any accrued and unpaid interest to,
but excluding, the Specified Date Repurchase Date. The Company will pay for
any Notes validly surrendered and not validly withdrawn with cash. Due to the
fact that the Specified Date Repurchase Date is not a business day, the
appropriate amount of cash for surrendered Notes will be provided to DTC on
February 18, 2014.

The opportunity to surrender the Notes for repurchase pursuant to the
Repurchase Right commences today and expires at 5:00 p.m., New York City time,
on Friday, February 14, 2014 (the "Repurchase Deadline"). Holders may withdraw
any Notes previously surrendered for repurchase at any time prior to 5:00
p.m., New York City time, on the Repurchase Deadline.

As required by the rules of the Securities and Exchange Commission (the
"SEC"), the Company will file a Tender Offer Statement on Schedule TO with the
SEC. The Tender Offer Statement will include a notice to holders from the
Company (the "Specified Date Company Notice") specifying the terms and
conditions of the Repurchase Right and the procedures to exercise the
Repurchase Right. Holders of Notes are strongly encouraged to read the
Specified Date Company Notice and other relevant documents filed with the SEC
before making a decision relating to the Repurchase Right.

None of the Company, its board of directors or its employees have made or are
making any representation or recommendation to any holder as to whether or not
to surrender Notes pursuant to the Repurchase Right.

Wilmington Trust, National Association is acting as paying agent for the
Repurchase Right. Copies of the Specified Date Company Notice and additional
information relating to the Repurchase Right may be obtained from Wilmington
Trust, National Association by emailing DTC2@wilmingtontrust.com.

About AV Homes

AV Homes, Inc. is engaged in homebuilding, community development and land
sales in Florida, Arizona and North Carolina. Its principal operations are
conducted near Orlando, Florida, Phoenix, Arizona and Raleigh and Charlotte,
North Carolina markets. The Company builds communities that serve active
adults 55 years and older and people of all ages. AV Homes common shares trade
on NASDAQ under the symbol AVHI.

This news release contains "forward-looking statements" within the meaning of
the U.S. federal securities laws, which statements may include information
regarding the plans, intentions, expectations, future financial performance,
or future operating performance of AV Homes, Inc. Forward-looking statements
are based on the expectations, estimates, or projections of management as of
the date of this news release. Although our management believes these
expectations, estimates, or projections to be reasonable as of the date of
this news release, forward-looking statements are inherently subject to
significant business risks, economic and competitive uncertainties, or other
contingencies which could cause our actual results or performance to differ
materially from what may be expressed or implied in the forward-looking
statements. Important factors that could cause our actual results or
performance to differ materially from our forward-looking statements include
those set forth in the "Risk Factors" section of our Annual Report on Form
10-K for the year ended December 31, 2012, our Quarterly Reports on Form 10-Q
for the quarters ended March 31, 2013, June 30, 2013 and September 30, 2013
and in our other filings with the Securities and Exchange Commission, which
filings are available on www.sec.gov. AV Homes disclaims any intention or
obligation to update or revise any forward-looking statements to reflect
subsequent events and circumstances, except to the extent required by
applicable law.

CONTACT: Media Contact:
         Dave M. Gomez
         d.gomez@avhomesinc.com
         (480) 214-7400

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