EXHIBIT 99.1

      OAKWOOD HOMES CORPORATION ARRANGES $415 MILLION IN CREDIT FACILITIES

GREENSBORO, N.C., Nov. 23 - Oakwood Homes Corporation announced today that it
has reached agreements in principle to provide the Company with liquidity
facilities totaling $415 million.

Myles E. Standish, President and Chief Executive Officer, stated: "We are
delighted to announce that we have reached an agreement in principle with
Berkshire Hathaway Inc., Greenwich Capital Financial Products, Inc. and Ranch
Capital LLC to provide debtor in possession ("DIP") financing while we complete
our reorganization. The $215 million DIP facility, for which we expect to
receive final court approval in mid-December, includes a $140 million line to be
used for general corporate liquidity needs and a $75 million loan servicing
advance line. The agreement provides for interim financing of up to $25 million
until the proposed agreement receives final court approval. This facility will
replace our existing $65 million revolving credit facility and our $50 million
loan servicing advance facility, thus providing us with an additional $100
million in liquidity.

"We are also pleased to announce that we have reached an agreement in principle
for continued access to our existing $200 million loan purchase facility, which
will allow our finance company to originate loans as usual. We believe that the
proposed $415 million of credit facilities should provide Oakwood with ample
liquidity throughout the bankruptcy proceedings.

"On November 15, the Company reached an agreement in principle with Berkshire
Hathaway Inc., its largest senior unsecured creditor, to restructure the
Company's balance sheet. Under the proposed plan, Berkshire Hathaway Inc. would
become the Company's largest shareholder upon the Company's emergence from
bankruptcy. The Company intends to work with Berkshire Hathaway, Inc. over the
next several weeks to prepare and file with the court a formal plan of
reorganization. The Company's proposed plan calls for existing shareholders to
receive a nominal value, consisting solely of out-of-the-money warrants for
approximately 10% of the post-restructuring common shares. As we move forward, I
want our employees, vendors, independent retailers and customers to know that we
expect to operate on a "business as usual" basis. This is a fresh start for a
business that has successfully adjusted and survived for the past 56 years."

Credit Suisse First Boston assisted the Company as financial advisor in
developing the Company's restructuring plan, and FTI Consulting, Inc. assisted
the Company as restructuring advisor in placement of the debtor in possession
financing.

Oakwood Homes Corporation and its subsidiaries are engaged in the production,
sale, financing and insuring of manufactured housing throughout the United
States. The Company's products are sold through Company-owned stores and an
extensive network of independent retailers.

This press release contains certain forward-looking statements and information
based on the beliefs of the Company's management as well as assumptions made by,
and information available to, the Company's management. These statements
include, among others, statements relating to the expectation that the Company
will be able to successfully reorganize itself, the expectation that the Company
will be able to finalize its $215 million DIP facility and receive court
approval for the facility, the belief that the credit facilities should provide
the Company with ample liquidity throughout the bankruptcy proceedings, the
expectation that the extension of the loan purchase facility will be finalized
and that the finance company will continue to originate loans as usual, the
expectation that the Company will be able to obtain the support of its remaining
creditors for its reorganization plan and the expectation that the Company will
be able to operate on a "business as usual" basis.

These forward-looking statements reflect the current views of the Company with
respect to future events and are subject to a number of risks, including, among
others, the following: the Company's plan of reorganization may not receive the
support of its creditors or be approved by the Bankruptcy Court; competitive
industry conditions could further adversely affect sales and profitability; the
Company may be unable to access sufficient capital and liquidity to fund its
operations during the reorganization process; it may recognize special charges
or experience increased costs in connection with its securitization or other
financing activities; the Company may be required to provide various forms of
credit enhancement to its vendors, lenders or others; the Company may recognize
special charges or experience increased costs in connection with restructuring
activities; the Company may not realize anticipated benefits associated with its
restructuring activities (including the closing of underperforming sales
centers); adverse changes in governmental regulations applicable to its business
could negatively impact the Company; it could suffer losses resulting from
litigation (including shareholder class actions or other class action suits);
the Company could experience increased credit losses or higher delinquency rates
on loans originated; the Company could experience lower recovery rates than
anticipated on the sale of repossessions, negative changes in general economic
conditions or the industry could adversely impact the Company; it could lose the
services of key management personnel; and any other factors that generally
affect companies in bankruptcy proceedings or in these lines of business could
also adversely impact the Company. Should the Company's underlying assumptions
prove incorrect or should one or more of the risks and uncertainties
materialize, actual events or results may vary materially and adversely from
those described herein as anticipated, expected, believed or estimated.