ARLINGTON, Texas, June 7 /PRNewswire-FirstCall/ -- D.R. Horton, Inc.
(NYSE: DHI), Friday (June 7, 2002) announced that it has commenced its
exchange offer for all of its outstanding 8.5% Senior Notes Due 2012. D.R.
Horton is offering to exchange up to $250,000,000 aggregate principal amount
of its newly issued 8.5% Senior Exchange Notes Due 2012, which have been
registered under the Securities Act of 1933, for an equal amount of its
outstanding privately placed 8.5% Senior Notes Due 2012, which were issued
pursuant to Rule 144A and Regulation S on April 11, 2002. The terms of the
exchange notes are substantially identical to the terms of the original notes,
except for transfer restrictions, registration rights and liquidated damages
provisions relating to the old notes which will not apply to the exchange
notes.
D.R. Horton will accept for exchange any and all original notes validly
tendered on or before 5:00 p.m., New York City time, on Tuesday, July 9, 2002,
unless the exchange offer is extended. The exchange offer is made only
pursuant to D.R. Horton's prospectus dated June 6, 2002, which has been filed
with the Securities and Exchange Commission (SEC) as part of the Company's
Registration Statement on Form S-4. The Registration Statement was declared
effective by the SEC on June 6, 2002.
Copies of the prospectus and transmittal materials governing the exchange
offer can be obtained from the Exchange Agent, American Stock Transfer and
Trust Company, by calling 1-800-937-5449, by faxing a request to
1-718-234-5001, or by writing to 59 Maiden Lane, New York, NY 10038.
Founded in 1978, D.R. Horton, Inc. is engaged in the construction and sale
of high quality homes designed principally for the entry-level and first time
move-up markets. D.R. Horton currently builds and sells homes under the D.R.
Horton, Arappco, Cambridge, Continental, Dietz-Crane, Dobson, Emerald, Mareli,
Melody, Milburn, Regency, Schuler, SGS Communities, Stafford, Torrey, Trimark,
and Western Pacific names in 21 states and 42 markets, with a geographic
presence in the Midwest, Mid-Atlantic, Southeast, Southwest and Western
regions of the United States. The Company also provides mortgage financing
and title services for homebuyers through its mortgage and title subsidiaries.
WEBSITE ADDRESS: www.DRHORTON.com
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SOURCE D.R. Horton, Inc.
Web site: http: //www.drhorton.com
CONTACT: Sam Fuller, CFO, or Stacey Dwyer, EVP, both of D.R. Horton, Inc., +1-817-856-8200
Company News On-Call: http: //www.prnewswire.com/comp/118697.html
