M.D.C. Holdings Announces 2008 Annual Meeting Results and Declares Quarterly Cash Dividend

DENVER, April 29 /PRNewswire-FirstCall/ -- M.D.C. Holdings, Inc. (NYSE:MDC) today announced the results of its annual meeting of the Company's shareowners, which was held on April 29, 2008 (the "Annual Meeting"). A total of 42,353,233 shares out of 46,343,377 shares outstanding and entitled to vote were represented in person or by proxy at the Annual Meeting.

PROPOSAL
NUMBER DESCRIPTION FOR WITHHELD

1A Election of Directors - 39,166,218 3,187,015
Nominee: William B. Kemper

1B Election of Directors - 42,145,527 207,706
Nominee: David D. Mandarich

PROPOSAL
NUMBER DESCRIPTION FOR AGAINST WITHHELD

2 To approve the M.D.C. 23,264,723 13,472,459 20,518
Holdings, Inc. Amended
Executive Officer
Performance-Based
Compensation Plan.

3 To approve a plan amendment 22,909,524 12,869,331 978,845
to authorize stock option
repricing and an exchange
program to reprice stock
options held by non-executive
officer employees.

4 WITHDRAWN

5 To vote on a shareowner 1,171,892 35,523,419 62,389
proposal concerning
establishment of a new
compliance committee and
review of regulatory,
litigation and compliance
risks.

6 To approve the selection of 42,237,185 86,903 29,145
Ernst & Young LLP as the
Company's independent
registered public accounting
firm for the 2008 fiscal year.

The Company also announced that its board of directors has declared a regular quarterly cash dividend of twenty-five cents ($.25) per share on the Company's common stock. The dividend will be paid on Wednesday, May 28, 2008 to shareowners of record on Wednesday, May 14, 2008.

Since 1972, MDC has built and financed the American dream for more than 150,000 families. As one of the largest homebuilders in the United States, the Company has homebuilding divisions across the country, including Denver, Colorado Springs, Salt Lake City, Las Vegas, Phoenix, Tucson, California, Chicago, Northern Virginia, Maryland, Philadelphia/Delaware Valley and Jacksonville. The Company also provides mortgage financing, insurance and title services, primarily for MDC homebuyers, through its wholly owned subsidiaries, HomeAmerican Mortgage Corporation, American Home Insurance Agency and American Home Title and Escrow, respectively. M.D.C. Holdings, Inc. is traded on the New York Stock Exchange under the symbol "MDC." For more information, visit http://www.richmondamerican.com/.

First Call Analyst:
FCMN Contact: susan.jend@mdch.com

Source: M.D.C. Holdings, Inc.

CONTACT: Paris G. Reece III, Chief Financial Officer, +1-303-804-7706,
greece@mdch.com, or Robert N. Martin, Investor Relations, +1-720-977-3431,
bob.martin@mdch.com, both of M.D.C. Holdings, Inc.

Web site: http://www.richmondamerican.com/

2008-04-29 18:37:46 0348460 PRNEWSWIRE