FORT WORTH, Texas, Nov. 29 /PRNewswire-FirstCall/ -- D.R. Horton, Inc.
(NYSE: DHI), America's Builder, Tuesday (November 29, 2005), announced today
that its Board of Directors has increased the Company's authorization to
repurchase up to $500 million of its common stock. This program replaces the
previous stock repurchase authorization.
Donald R. Horton, Chairman of the Board, said, "The Board's increased
authorization is based on the strength in our operations, which is reflected
in our fourth quarter and fiscal year industry-record earnings reported on
November 16, 2005."
D.R. Horton, Inc., America's Builder, is the largest homebuilder in the
United States, delivering more than 51,000 homes in its fiscal year ended
September 30, 2005. Founded in 1978 in Fort Worth, Texas, D.R. Horton has
expanded its presence to include 74 markets in 25 states in the Midwest, Mid-
Atlantic, Southeast, Southwest and Western regions of the United States. The
Company is engaged in the construction and sale of high quality homes with
sales prices ranging from $90,000 to over $900,000. D.R. Horton also provides
mortgage financing and title services for homebuyers through its mortgage and
SOURCE D.R. Horton, Inc.
Stacey H. Dwyer, EVP of D.R. Horton, Inc., +1-817-390-8200
Web site: http://www.drhorton.com
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding D.R. Horton's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.