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The Ryland Group Announces Pricing Of Senior Notes

The Ryland Group, Inc. (NYSE: RYL) announced today that it has priced an underwritten public offering of $250 million aggregate principal amount of 5.375% Senior Notes due 2022. The offering is expected to close on September 21, 2012, subject to customary closing conditions.

The notes will be the Company’s general unsecured senior obligations. The notes will pay interest semi-annually on April 1 and October 1, beginning on April 1, 2013, at a rate of 5.375% per year, and will mature on October 1, 2022. The notes will be guaranteed by substantially all of the Company’s direct and indirect wholly owned homebuilding subsidiaries.

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.

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. A preliminary prospectus supplement and accompanying prospectus describing the terms of the offering has been filed with the Securities and Exchange Commission.

J.P. Morgan Securities LLC and Citigroup Global Markets Inc. acted as the joint book-running managers and Deutsche Bank Securities Inc. and Wells Fargo Securities, LLC acted as co-managers. Printed copies of the preliminary prospectus supplement relating to this offering and the accompanying prospectus may be obtained 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.

About The Ryland Group

Headquartered in Southern California, Ryland is one of the nation’s largest homebuilders and a leading mortgage-finance company. Since its founding in 1967, Ryland has built more than 295,000 homes and financed more than 245,000 mortgages. The Company currently operates in 13 states across the country and is listed on the New York Stock Exchange under the symbol “RYL.”

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