Meritage Homes Launches Private Placement of $200 Million Senior Unsecured Notes

SCOTTSDALE, Ariz., April 6, 2010 (GLOBE NEWSWIRE) -- Meritage Homes Corporation
(NYSE:MTH), one of America's top 10 homebuilders, today announced its intention
to offer, subject to market and other conditions, $200 million aggregate
principal amount of senior unsecured notes to qualified institutional buyers
pursuant to Rule 144A under the Securities Act of 1933, as amended (the
"Securities Act") and outside the United States to persons other than U.S.
persons in reliance upon Regulation S under the Securities Act.

Final terms of the notes, including the interest rate and other terms, will be
determined through negotiations between Meritage and the initial purchasers of
the notes.

Meritage intends to use the net proceeds from the offering to repurchase or
redeem all $130 million aggregate principal amount of its 7.00% Senior Notes due
2014, and to repurchase a portion of its 6.25% Senior Notes due 2015.

This announcement is neither an offer to sell nor a solicitation of an offer to
buy any of these securities and shall not constitute an offer, solicitation, or
sale in any jurisdiction in which such offer, solicitation, or sale is unlawful.
The securities will not be registered under the Securities Act of 1933, as
amended, or any state securities laws, and unless so registered, may not be
offered or sold in the United States except pursuant to an exemption from the
registration requirements of the Securities Act and applicable state laws.

The Meritage Homes Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=2624

This press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements include:
Meritage's intentions to offer $200 million of senior unsecured notes and to use
the net proceeds from the offering to repurchase $130 million aggregate
principal amount of its 7% Senior Notes due 2014, and a portion of its 6.25%
Senior Notes due 2015. Such statements are based upon the current beliefs and
expectations of Company management and current market conditions, which are
subject to significant risks and uncertainties as set forth in Meritage Homes
Corporation Form 10-K for the year ended December 31, 2009 under the caption
"Risk Factors". As a result of these and other factors, actual results may
differ from those set forth in the forward-looking statements and the Company's
stock and note prices may fluctuate significantly. The Company makes no
commitment, and disclaims any duty, to update or revise any forward-looking
statements to reflect future events or changes in these expectations.

CONTACT: Meritage Homes Corporation
Investor Relations:
Brent Anderson, Vice President-Investor Relations
(972) 580-6360
Corporate Communications:
Jane Hays, Vice President-Corporate Marketing/Communications
(972) 580-6353