Forestar Group to Release Third Quarter 2009 Results on November 4, 2009

AUSTIN, Texas--(Business Wire)--
Forestar Group Inc. (NYSE: FOR) will release its results for third quarter 2009
on November 4, before the market opens.

The company will host a conference call on November 4, 2009 at 10:00 a.m. ET to
discuss results of third quarter 2009.

To access the conference call, listeners calling from North America should dial
1-800-573-4842 at least 15 minutes prior to the start of the call. Those wishing
to access the call from outside North America should dial 1-617-224-4327. The
passcode is Forestar. Replays of the call will be available for two weeks
following the completion of the live call and can be accessed at 1-888-286-8010
in North America and at 1-617-801-6888 outside North America. The passcode for
the replay is 83753032.

The conference call may also be accessed through Forestar Group`s Internet site,
www.forestargroup.com, by clicking on "Investor Relations - Investor Events."

About Forestar Group

Forestar Group Inc. operates in three business segments: real estate, mineral
resources and fiber resources. The real estate segment owns directly or through
ventures over 260,000 acres of real estate located in nine states and twelve
markets in the U.S. The real estate segment has 24 real estate projects
representing 33,600 acres currently in the entitlement process, and 75 entitled,
developed and under development projects in seven states and eleven markets
encompassing over 16,000 acres, comprised of over 29,700 residential lots and
over 2,300 commercial acres. The mineral resources segment manages about 622,000
net acres of oil and gas mineral interests. The fiber resources segment includes
the sale of wood fiber and management of our recreational leases. The company
also has a 45% nonparticipating royalty interest in groundwater produced or
withdrawn for commercial purposes from approximately 1.38 million acres in
Texas, Louisiana, Georgia and Alabama. Forestar`s address on the World Wide Web
is www.forestargroup.com.

Forward-looking Statements

This release contains "forward-looking statements" within the meaning of the
federal securities laws. These statements reflect management`s current views
with respect to future events and are subject to risk and uncertainties. We note
that a variety of factors and uncertainties could cause our actual results to
differ significantly from the results discussed in the forward-looking
statements. Factors and uncertainties that might cause such differences include,
but are not limited to: general economic, market, or business conditions; the
opportunities (or lack thereof) that may be presented to us and that we may
pursue; fluctuations in costs and expenses including development costs; demand
for new housing, including impacts from mortgage credit availability; lengthy
and uncertain entitlement processes; cyclicality of our businesses; accuracy of
accounting assumptions; competitive actions by other companies; changes in laws
or regulations; and other factors, many of which are beyond our control. Except
as required by law, we expressly disclaim any obligation to publicly revise any
forward-looking statements contained in this news release to reflect the
occurrence of events after the date of this news release.

Forestar Group Inc.
Chris L. Nines, 512-433-5210

Copyright Business Wire 2009