M/I Homes Enters Austin, Texas Market

COLUMBUS, Ohio, Oct. 4, 2012 /PRNewswire/ -- M/I Homes, Inc. (NYSE: MHO), one of the nation's leading homebuilders, is entering the Austin, Texas market, representing a continued expansion of M/I Homes' operations in Texas.  M/I Homes currently builds and markets new homes in Houston and San Antonio.

"We are excited to be starting operations in Austin," commented Robert H. Schottenstein, Chief Executive Officer and President of M/I Homes.  "We believe that Austin is one of the nation's most dynamic housing markets and we have had our eye on it since we first expanded into Texas with the opening of our Houston division in 2010, followed by our 2011 entry into San Antonio. Our expansion in Texas further strengthens our geographic footprint and enhances our opportunity for profitable growth."

"We are also pleased to announce that Bill Peckman has joined the M/I Homes team to serve as our Austin Area President," Mr. Schottenstein continued.  "Bill Peckman is a proven leader who has been in homebuilding in Austin for nearly 20 years, and who brings with him significant expertise and relationships in the market.  He is highly regarded within the homebuilding industry and will provide strong leadership for our Company."

The Austin MSA was the 7th most active housing market in 2011, with nearly 6,200 new home closings, according to BUILDER Magazine.  M/I Homes entered the Houston market in 2010 and increased its presence in that market with the acquisition of the assets of Triumph Homes earlier this year.  M/I Homes also entered the San Antonio market in April of 2011 by acquiring the assets of TriStone Homes. 

M/I Homes, Inc. is one of the nation's leading builders of single-family homes, having delivered more than 81,500 homes. The Company's homes are marketed and sold under the trade names M/I Homes, Showcase Homes, TriStone Homes and Triumph Homes. The Company has homebuilding operations in Columbus and Cincinnati, Ohio; Chicago, Illinois; Indianapolis, Indiana; Tampa and Orlando, Florida; Austin, Houston and San Antonio, Texas; Charlotte and Raleigh, North Carolina; and the Virginia and Maryland suburbs of Washington, D.C.

Certain statements in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  Words such as "expects," "anticipates," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," variations of such words and similar expressions are intended to identify such forward-looking statements.  These statements involve a number of risks and uncertainties.  Any forward-looking statements that we make herein and in any future reports and statements are not guarantees of future performance, and actual results may differ materially from those in such forward-looking statements as a result of various factors, including, without limitation, factors relating to the economic environment, interest rates, availability of resources, competition, market concentration, land development activities and various governmental rules and regulations, as more fully discussed in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2011, as the same may be updated from time to time in our subsequent filings with the Securities and Exchange Commission.  All forward-looking statements made in this press release are made as of the date hereof, and the risk that actual results will differ materially from expectations expressed herein will increase with the passage of time.  We undertake no duty to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.  However, any further disclosures made on related subjects in our subsequent filings, releases or presentations should be consulted.

SOURCE M/I Homes, Inc.



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