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Engle Homes Announces Outcome of Bond Redemption.

BOCA RATON, Fla.--(BUSINESS WIRE)--March 10, 1998--Engle Homes, Inc. (Nasdaq/NMS: "ENGL"), a national homebuilder with operations in eight states, today announced the outcome of the Company's call for redemption of the balance of its Convertible Subordinated Notes due 2003 (the "Convertible Notes"). Prior to being redeemed, $14.8 million principle amount of the Convertible Notes were converted by the holders into 1,059,421 shares of the Company's common stock and $4,000 principle amount of such notes were redeemed. The Company currently has approximately 11.1 million shares of common stock outstanding.

Headquartered in Boca Raton, Florida, Engle Homes, Inc. designs, constructs, markets and sells single-family homes, townhomes, patio homes and condominiums in Florida; Denver, Colorado; Dallas, Texas; Raleigh, North Carolina; Atlanta, Georgia; Phoenix, Arizona; Virginia and Maryland. The Company's financial services subsidiaries provide mortgage banking, primarily to the purchasers of its homes, and title insurance services. The Company's common stock trades on The Nasdaq National Market under the symbol "ENGL".

CONTACT: Engle Homes, Boca Raton

David Shapiro, Vice President Finance

561/391-4012, Extension 133

E mail: dshap123@aol
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Publication:Business Wire
Date:Mar 10, 1998
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