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CALTON, INC. LISTS ON THE AMERICAN STOCK EXCHANGE

 NEW YORK, June 2 /PRNewswire/ -- Calton, Inc. today commenced trading on the American Stock Exchange. The company's common stock, trading under the ticker symbol "CN.WI", opened at 9:30 a.m. at 1-3/8 on 5,000 shares. Calton, Inc. has selected Joseph Kaufman/Spear, Leeds & Kellogg as its specialist firm. The company, which recently completed a reorganization, previously listed on the New York Stock Exchange.
 Calton, Inc. and its subsidiaries, headquartered in Manalapan, N.J., design, construct and market residential housing units of varying types in planned residential developments in New Jersey, Florida, Pennsylvania and California. The company also options or acquires land in those states which, after regulatory approval, is used by the company for planned residential developments or sold to other builders. As of May 31, 1993, the company had 47 residential projects under development in 36 locations. The company builds townhouse-style, apartment-style condominium housing and single-family detached housing ranging in base price from $64,000 to $346,000.
 "Companies listed on the American Stock Exchange gain a tremendous advantage by being traded in a centralized market where their stock is assured of the most fair and orderly trades. Shareholders of AMEX listed companies benefit from superb liquidity and very narrow bid-and- ask spreads provided by AMEX specialists," commented Roland Savage, managing director of the Northeast region for the American Stock Exchange.
 The American Stock Exchange occupies a unique niche among U.S. financial markets. It is the only exchange to successfully provide both a primary equities market for growth companies, as well as a principal market to trade derivatives. No other exchange has balanced traditional and cutting edge trading products. And because of the efficiencies associated with the AMEX auction marketplace, investors of all sizes achieve the greatest value and protection.
 -0- 6/2/93
 /CONTACT: Melissa Grand, manager, Equities Communications of Amex, 212-306-1635/
 (CN.WI)


CO: Calton, Inc. ST: New Jersey IN: CST SU:

PS -- NY030 -- 4390 06/02/93 10:47 EDT
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Publication:PR Newswire
Date:Jun 2, 1993
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