M/I Schottenstein Homes Reports Record New Contracts, Homes Delivered and Backlog

Apr 10, 2001, 01:00 ET from M/I Schottenstein Homes, Inc.

    COLUMBUS, Ohio, April 10 /PRNewswire/ -- M/I Schottenstein Homes, Inc.
 (NYSE:   MHO) announced record New Contracts, Homes Delivered and Backlog for
 the three months ended March 31, 2001.
     Numerous records were set during M/I's first quarter of 2001, representing
 new highs in the Company's 25-year history, including:
 
     * March new contracts were 591, the highest sales month ever recorded
     * First quarter new contracts of 1,376 resulted in the highest sales
       quarter ever recorded
     * First quarter homes delivered of 777 established a new high for this
       period
     * Backlog of 2,710 at March 31, 2001 was the highest in the Company's
       history with sales value of $625,000,000 and average sales price of
       $230,000
 
     New contracts in 2001's first quarter were 1,376, up 24% from 2000's first
 quarter of 1,106.  First quarter homes delivered increased 5% to 777 from
 2000's 743.
     The backlog of homes at March 31, 2001 was 2,710 units, with a sales value
 of $625,000,000, compared to 2,517 units (sales value of $571,000,000) at
 March 31, 2000.  The average sales price of homes in backlog was $230,000 at
 March 31, 2001, compared to $227,000 at March 31, 2000.  M/I had 145 active
 subdivisions at March 31, 2001 compared to 142 at March 31, 2000.
     The Company expects to report first quarter financial results on Thursday,
 April 19 and will broadcast live its first quarter earnings conference call at
 4:00 p.m. EDT.  You are invited to listen to the call over the internet.  To
 hear the call, log on to the M/I Homes' website at www.mihomes.com , click on
 the "Investor Relations" section of the site, and select "Listen to the
 Conference Call."  If you are unable to participate during the live webcast,
 the call will be available on the website through April 27.  If you experience
 problems listening to the broadcast, please call Grace Major at
 (614) 418-8037.
     M/I Schottenstein Homes, Inc. is one of the nation's leading builders of
 single-family homes, having sold over 45,000 homes.  The Company's homes are
 marketed and sold under the trade names Horizon, M/I Homes and Showcase Homes.
 The Company has homebuilding operations in Columbus and Cincinnati, Ohio;
 Indianapolis, Indiana; Tampa, Orlando and Palm Beach County, Florida;
 Charlotte and Raleigh, North Carolina; Virginia; Maryland; and Phoenix,
 Arizona.
 
                         M/I SCHOTTENSTEIN HOMES, INC.
                         Homebuilding Operational Data
 
                        New Contracts                    Homes Delivered
                      Three months ended               Three months ended
                       March 31,                        March 31,
                                         %                                %
                   2001       2000     Change       2001       2000    Change
     Ohio &
       Indiana      910        725       26          440        461      (5)
     Florida        252        182       38          196        136      44
     NC, VA,
       MD & AZ      214        199        8          141        146      (3)
       Total      1,376      1,106       24          777        743       5
 
                                          Backlog
                     March 31, 2001                     March 31, 2000
                         Dollars    Average               Dollars    Average
                 Units (millions) Sales Price    Units  (millions) Sales Price
 
     Ohio &
       Indiana   1,775    $363      $204,000     1,655     $325      $197,000
     Florida       548     115       209,000       413       88       213,000
     NC, VA,
       MD & AZ     387     147       380,000       449      158       351,000
       Total     2,710    $625      $230,000     2,517     $571      $227,000
 
 

SOURCE M/I Schottenstein Homes, Inc.
    COLUMBUS, Ohio, April 10 /PRNewswire/ -- M/I Schottenstein Homes, Inc.
 (NYSE:   MHO) announced record New Contracts, Homes Delivered and Backlog for
 the three months ended March 31, 2001.
     Numerous records were set during M/I's first quarter of 2001, representing
 new highs in the Company's 25-year history, including:
 
     * March new contracts were 591, the highest sales month ever recorded
     * First quarter new contracts of 1,376 resulted in the highest sales
       quarter ever recorded
     * First quarter homes delivered of 777 established a new high for this
       period
     * Backlog of 2,710 at March 31, 2001 was the highest in the Company's
       history with sales value of $625,000,000 and average sales price of
       $230,000
 
     New contracts in 2001's first quarter were 1,376, up 24% from 2000's first
 quarter of 1,106.  First quarter homes delivered increased 5% to 777 from
 2000's 743.
     The backlog of homes at March 31, 2001 was 2,710 units, with a sales value
 of $625,000,000, compared to 2,517 units (sales value of $571,000,000) at
 March 31, 2000.  The average sales price of homes in backlog was $230,000 at
 March 31, 2001, compared to $227,000 at March 31, 2000.  M/I had 145 active
 subdivisions at March 31, 2001 compared to 142 at March 31, 2000.
     The Company expects to report first quarter financial results on Thursday,
 April 19 and will broadcast live its first quarter earnings conference call at
 4:00 p.m. EDT.  You are invited to listen to the call over the internet.  To
 hear the call, log on to the M/I Homes' website at www.mihomes.com , click on
 the "Investor Relations" section of the site, and select "Listen to the
 Conference Call."  If you are unable to participate during the live webcast,
 the call will be available on the website through April 27.  If you experience
 problems listening to the broadcast, please call Grace Major at
 (614) 418-8037.
     M/I Schottenstein Homes, Inc. is one of the nation's leading builders of
 single-family homes, having sold over 45,000 homes.  The Company's homes are
 marketed and sold under the trade names Horizon, M/I Homes and Showcase Homes.
 The Company has homebuilding operations in Columbus and Cincinnati, Ohio;
 Indianapolis, Indiana; Tampa, Orlando and Palm Beach County, Florida;
 Charlotte and Raleigh, North Carolina; Virginia; Maryland; and Phoenix,
 Arizona.
 
                         M/I SCHOTTENSTEIN HOMES, INC.
                         Homebuilding Operational Data
 
                        New Contracts                    Homes Delivered
                      Three months ended               Three months ended
                       March 31,                        March 31,
                                         %                                %
                   2001       2000     Change       2001       2000    Change
     Ohio &
       Indiana      910        725       26          440        461      (5)
     Florida        252        182       38          196        136      44
     NC, VA,
       MD & AZ      214        199        8          141        146      (3)
       Total      1,376      1,106       24          777        743       5
 
                                          Backlog
                     March 31, 2001                     March 31, 2000
                         Dollars    Average               Dollars    Average
                 Units (millions) Sales Price    Units  (millions) Sales Price
 
     Ohio &
       Indiana   1,775    $363      $204,000     1,655     $325      $197,000
     Florida       548     115       209,000       413       88       213,000
     NC, VA,
       MD & AZ     387     147       380,000       449      158       351,000
       Total     2,710    $625      $230,000     2,517     $571      $227,000
 
 SOURCE  M/I Schottenstein Homes, Inc.