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Richmond American Homes Announces Two Management
Promotions
DENVER, April 7, 2005 -- M.D.C. Holdings, Inc. (MDC), whose subsidiaries
build homes under the name "Richmond American Homes," today announced that
David Sprouse and Julie Draguns each have been promoted to the position of
division president. Sprouse will lead the Houston division while Draguns
will lead the Seasons division located in Denver.
"With their significant financial and operational experience, David and
Julie are valuable additions to our management team," said David D.
Mandarich, MDC's president and chief operating officer. "I am confident that
they will provide strong leadership to their teams and will contribute to
Richmond American's continued growth and success in the marketplace."
Sprouse has been with Richmond American Homes for three years and most
recently served as the regional vice president of finance for the Company's
Arizona and Texas region. He brings 15 years of business and finance
experience to his new position, with particular knowledge in the areas of
acquisitions, systems and cost control.
With more than 11 years of experience in homebuilding, Draguns will lead the
Seasons division in building entry-level homes for Richmond American
homebuyers in Denver. Prior to her promotion, Draguns was vice president of
finance for the Company's Denver division. Before joining Richmond American
Homes, Draguns held positions with both public and private builders in a
variety of capacities, including finance, marketing and acquisitions.
MDC, whose subsidiaries build homes under the name "Richmond American
Homes," is one of the largest homebuilders in the United States. The Company
also provides mortgage financing, primarily for MDC's homebuyers, through
its wholly owned subsidiary HomeAmerican Mortgage Corporation. MDC is a
major regional homebuilder with a significant presence in some of the
country's best housing markets. The Company is the largest homebuilder in
Colorado; among the top five homebuilders in Northern Virginia, suburban
Maryland, Phoenix, Tucson, Las Vegas and Salt Lake City; and among the top
ten homebuilders in Jacksonville, Northern California and Southern
California. MDC also has established operating divisions in Dallas/Fort
Worth, Houston, West Florida, Philadelphia/Delaware Valley and Chicago. For
more information about our Company, please visit
www.richmondamerican.com.
SOURCE M.D.C. Holdings, Inc.
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