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D.R. HORTON, INC. SIGNS LETTER OF INTENT TO BUY MINNESOTA BUILDER

 ARLINGTON, Texas, Nov. 17 /PRNewswire/ -- D.R. Horton, Inc. (NASDAQ: DRHI) announced it signed a Letter of Intent to acquire substantially all of the assets of Joseph M. Miller Construction, Inc. and Argus Development, Inc. ("Joe Miller Homes"). Joe Miller Homes is the premier builder of high-quality single family homes in the Minneapolis/St. Paul market. In 1992, the Company was the largest single family homebuilder in both Minneapolis/St. Paul and the state of Minnesota, based on building permits issued. For the year ended Dec. 31, 1992, Joe Miller Homes closed over 350 homes, with revenues exceeding $50 million.
 Donald R. Horton, Chairman and President said, "We are extremely enthusiastic about the prospects of combining the operations of Joe Miller Homes and D.R. Horton, Inc. Joe Miller Homes' reputation for innovative design, quality construction, superior personalized craftsmanship and unmatched customer service has resulted in significant 'brand name' recognition. The Company and its employees will be an excellent addition to the D.R. Horton family. The acquisition is subject to various conditions and approvals, and, if completed, should have a positive impact on 1994 earnings."
 D.R. Horton, Inc. is engaged in the construction and sale of high quality, single family homes with custom features designed principally for the entry-level and move-up markets in the Mid-Atlantic, Midwest, Southeast, Southwest, and Western regions of the United States.
 -0- 11/17/93
 /CONTACT: Richard Beckwitt, EVP, or David J. Keller, EVP, of D.R. Horton, 817-856-8200/


CO: D.R. Horton, Inc.; Joseph M. Miller Construction, Inc.;
 Argus Development, Inc. ST: Texas, Minnesota IN: CST SU:


MP -- NY041 -- 5444 11/17/93 11:36 EST
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Publication:PR Newswire
Date:Nov 17, 1993
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