EXHIBIT 99.1
[RYLAND LOGO]
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NEWS RELEASE The Ryland Group, Inc.
www.ryland.com
FOR IMMEDIATE RELEASE CONTACT: Cathey Lowe, Senior Vice President,
Finance
Investor Relations (818) 223-7530
Pam Krebs, Manager, Communications
Media Relations (818) 223-7591
RYLAND ANNOUNCES RECORD FIRST QUARTER NET NEW ORDERS AND BACKLOG
CALABASAS, Calif. (Apr. 2, 2003) - The Ryland Group, Inc. (NYSE: RYL) today
released preliminary unit net new orders for the three months ended March 31,
2003.
New orders for the quarter ended March 31, 2003 were a record 4,260, a
13.4 percent increase over the 3,757 orders reported for the quarter ended March
31, 2002.
Additionally, the Company's backlog increased to 6,678 outstanding
contracts, representing the highest first quarter-end backlog in the Company's
history and a 14.5 percent increase over the prior year.
NEW ORDERS (UNITS):
FOR THE THREE MONTHS ENDED MARCH 31,
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2003 2002 % CHANGE
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NORTH CENTRAL 2,192 2,087 5.0%
SOUTHEAST 1,250 1,058 18.1%
WEST 818 612 33.7%
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TOTAL 4,260 3,757 13.4%
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With headquarters in Southern California, Ryland is one of the nation's
largest homebuilders and a leading mortgage-finance company. The Company, which
currently operates in 25 markets across the country, has built more than 200,000
homes and financed over 175,000 mortgages since its founding in 1967.
-more-
Note: Certain statements in this press release are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are based on various factors and assumptions that
include such risks and uncertainties as the completion and profitability of
sales reported; the market for homes generally and in areas where the Company
operates; the availability and cost of land; changes in economic conditions and
interest rates; increases in raw materials and labor costs; consumer confidence;
government regulation; and general economic, business and competitive factors,
all or each of which may cause actual results to differ from the statements made
in this press release.
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