Standard Pacific Corp. Announces New $35 Million Stock Repurchase Program

Apr 27, 2001, 01:00 ET from Standard Pacific Corp.

    IRVINE, Calif., April 27 /PRNewswire/ -- Standard Pacific Corp.
 (NYSE:   SPF) today announced that its Board of Directors has approved a new
 $35 million stock repurchase program.  Shares will be purchased under the
 program from time to time in the open market subject to market conditions.
 This new program replaces the previously announced buyback plan which had
 approximately $15 million remaining for future share repurchases.
     The new stock buyback program reflects the Board's confidence in the
 Company's market position and long term prospects," said Stephen J.
 Scarborough, President and Chief Executive Officer.  "At current share price
 levels, we believe that our shares are significantly undervalued and that
 buying back our stock is a sound use of our capital and in our shareholders'
 best interest."
 
     Standard Pacific, one of the nation's largest homebuilders, has built
 homes for more than 43,000 families during its 35-year history.  The Company
 focuses its efforts on constructing move-up homes within a wide range of price
 and size with homes generally selling for $125,000 to over $1 million.
 Standard Pacific operates in some of the strongest housing markets in the
 country with operations throughout the major metropolitan areas in California,
 Texas, Arizona and Colorado.  The Company also provides mortgage financing and
 title services to its homebuyers through its subsidiaries and joint ventures,
 Family Lending Services, SPH Mortgage, WRT Financial and SPH Title.  For more
 information about the Company and its new home developments please visit our
 website at:  www.standardpacifichomes.com.
 
     This new release contains forward-looking statements.  Such statements
 involve known and unknown risks, uncertainties and other factors that may
 cause actual results to differ materially.  For a discussion of certain of
 these risks, uncertainties and other factors, see the Company's most recent
 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
 
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SOURCE Standard Pacific Corp.
    IRVINE, Calif., April 27 /PRNewswire/ -- Standard Pacific Corp.
 (NYSE:   SPF) today announced that its Board of Directors has approved a new
 $35 million stock repurchase program.  Shares will be purchased under the
 program from time to time in the open market subject to market conditions.
 This new program replaces the previously announced buyback plan which had
 approximately $15 million remaining for future share repurchases.
     The new stock buyback program reflects the Board's confidence in the
 Company's market position and long term prospects," said Stephen J.
 Scarborough, President and Chief Executive Officer.  "At current share price
 levels, we believe that our shares are significantly undervalued and that
 buying back our stock is a sound use of our capital and in our shareholders'
 best interest."
 
     Standard Pacific, one of the nation's largest homebuilders, has built
 homes for more than 43,000 families during its 35-year history.  The Company
 focuses its efforts on constructing move-up homes within a wide range of price
 and size with homes generally selling for $125,000 to over $1 million.
 Standard Pacific operates in some of the strongest housing markets in the
 country with operations throughout the major metropolitan areas in California,
 Texas, Arizona and Colorado.  The Company also provides mortgage financing and
 title services to its homebuyers through its subsidiaries and joint ventures,
 Family Lending Services, SPH Mortgage, WRT Financial and SPH Title.  For more
 information about the Company and its new home developments please visit our
 website at:  www.standardpacifichomes.com.
 
     This new release contains forward-looking statements.  Such statements
 involve known and unknown risks, uncertainties and other factors that may
 cause actual results to differ materially.  For a discussion of certain of
 these risks, uncertainties and other factors, see the Company's most recent
 Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X52354894
 
 SOURCE  Standard Pacific Corp.