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The Ryland Group Announces Offering Of Senior Notes

The Ryland Group, Inc. (NYSE: RYL), today announced its intention to offer, subject to market and other conditions, $250 million aggregate principal amount of its Senior Notes due 2022.

The notes will be guaranteed by substantially all of the Company’s direct and indirect wholly owned homebuilding subsidiaries. The interest rate and certain other terms of the offering will be determined at the time of pricing.

The Company intends to use the net proceeds from this offering for general corporate purposes, which may include the repayment or repurchase of outstanding indebtedness.

J.P. Morgan Securities LLC and Citigroup Global Markets Inc. are acting as the joint book-running managers and Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC are acting as co-managers. The notes are being offered pursuant to an effective shelf registration statement that was previously filed by the Company with the Securities and Exchange Commission and became effective immediately upon filing on January 27, 2012. Printed copies of the preliminary prospectus supplement relating to this offering and the accompanying prospectus may be obtained, when available, by requesting copies from J.P. Morgan Securities LLC at 1-212-834-4533 or by mail to Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attention: Post-Sale Fulfillment; and Citigroup Global Markets Inc. toll free at 1-877-858-5407 or by mail to Citigroup Global Markets Inc., Attention: Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220, 877-858-5407. An electronic copy of the preliminary prospectus supplement and accompanying prospectus may also be obtained at no charge at the Securities and Exchange Commission’s website at www.sec.gov.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the notes described herein, nor shall there be any sale of these notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the laws of such jurisdiction. The offering of the notes will be made only by means of a prospectus supplement and related base prospectus.

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