Dominion Homes Reports 49% Increase in First Quarter Home Closings.

Business Editors

DUBLIN, Ohio--(BUSINESS WIRE)--April 15, 2002

Dominion Homes, Inc. (Nasdaq:DHOM) reported that the number of homes closed during the three months ended March 31, 2002 increased 49% to a first quarter record 518 homes from 347 homes for the same period a year ago.

Sales for the three months ended March 31, 2002 increased to an all time record 717 homes compared to the previous all time record 706 sales for the three months ended March 31, 2001. The sales value of the homes sold in first quarter 2002 increased to $133.5 million compared to the sales value of the homes sold in first quarter 2001 of $133.3 million.

The Company had a record first quarter backlog of 1,231 contracts, with a sales value of $239.9 million, at March 31, 2002 compared to 1,136 contracts, with a sales value of $221.0 million, at March 31, 2001. This represents an 8% increase in the number of homes in backlog and a 9% increase in sales value.

First quarter 2002 financial results will be announced in late April.

Dominion Homes, which is included in the Year 2001 List of the "200 Best Small Companies" published by Forbes Magazine, offers three distinct series of homes which are differentiated by size, price, standard features and available options. The Company also provides financing services to its homebuyers. The Company's "Best of Everything" philosophy focuses on providing its customers with unsurpassed products, quality, and customer service. There are currently over 40 Dominion Homes locations in Central Ohio and six in Louisville, Kentucky. Additional information about Dominion Homes and its homes is located on the world wide web at www.dominionhomes.com.