ARLINGTON, Texas, July 10 /PRNewswire-FirstCall/ -- D.R. Horton, Inc.
(NYSE: DHI), Wednesday (July 10, 2002) announced that it has completed its
offer 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 (Original Notes), which were issued pursuant
to Rule 144A and Regulation S on April 11, 2002. Of the $250,000,000 Original
Notes, 99.92% were tendered and the remaining Original Notes were represented
by notices of guaranteed delivery. The exchange offer expired at 5:00 p.m.
New York City time, on July 9, 2002.
This announcement is not an offer to sell any securities, or a
solicitation of any offer to buy any securities. The exchange offer was made
solely by means of a written prospectus dated June 6, 2002.
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, Melody,
Milburn, Regency, Schuler, SGS Communities, Stafford, Torrey, Trimark, and
Western Pacific names in 20 states and 44 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
Company News On-Call: http: //www.prnewswire.com/comp/118697.html
CONTACT: Sam Fuller, CFO, or Stacey Dwyer, EVP, both of D.R. Horton, Inc., +1-817-856-8200
