M.D.C. Holdings Announces Offering Of $250 Million 6.000% Senior Notes Due 2043

For best results when printing this announcement, please click on the link
below:

http://pdf.reuters.com/pdfnews/pdfnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130107:nPnLA38021

DENVER, Jan. 7, 2013 /PRNewswire/ -- M.D.C. Holdings, Inc. (NYSE: MDC) today
announced the pricing of a public offering of $250 million principal amount of
6.000% senior notes at par due January 2043 (the "Notes"). The Notes will be
general unsecured obligations of MDC and will rank equally and ratably with its
other general unsecured and unsubordinated indebtedness. In addition, the Notes
will be fully guaranteed on an unsecured basis, jointly and severally, by most
of the Company's homebuilding subsidiaries. MDC will use the proceeds of the
offering for general corporate purposes. The offering is expected to close on
January 10th, 2013, subject to customary closing conditions.

The Notes will be issued pursuant to an effective shelf registration statement
and are being offered by means of the Prospectus included in the registration
statement and the related Prospectus Supplement. The offering is being
underwritten by Citigroup Global Markets Inc. Copies of the Prospectus and the
Prospectus Supplement relating to the offering may be obtained at no charge by
visiting the SEC website at www.sec.gov or by contacting Citigroup Global
Markets Inc. at the following address: Citigroup Global Markets Inc. c/o
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717;
telephone: (800) 831-9146.

This press release shall not constitute an offer to sell the Notes, nor shall
there be any sale of these notes in any state or jurisdiction in which such an
offer, solicitation or sale would be unlawful.

About M.D.C. Holdings, Inc.

Since 1972, MDC's subsidiary companies have built and financed the American
dream for more than 170,000 families. MDC's commitment to customer satisfaction,
quality and value is reflected in each home its subsidiaries build. MDC is one
of the largest homebuilders in the United States. Its subsidiaries have
homebuilding operations across the country, including the metropolitan areas of
Denver, Colorado Springs, Salt Lake City, Las Vegas, Phoenix, Tucson,
Riverside-San Bernardino, Los Angeles, San Francisco Bay Area, Washington
D.C., Baltimore, Philadelphia, Jacksonville and Seattle. The Company's
subsidiaries also provide mortgage financing, insurance and title services,
primarily for Richmond American homebuyers, through HomeAmerican Mortgage
Corporation, American Home Insurance Agency, Inc. and American Home Title and
Escrow Company, respectively. M.D.C. Holdings, Inc. is traded on the New York
Stock Exchange under the symbol "MDC." For more information, visit
www.mdcholdings.com.

SOURCE M.D.C. Holdings, Inc.

Robert N. Martin, Vice President of Finance, +1-720-977-3431,
bob.martin@mdch.com