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FOR THE FIELDSTONE GROUP OF COMPANIES, SUCCESS CONTINUES IN CHALLENGING TIMES

 FOR THE FIELDSTONE GROUP OF COMPANIES,
 SUCCESS CONTINUES IN CHALLENGING TIMES
 BREA, Calif., Sept. 14 /PRNewswire/ -- Even during challenging economic times, one home builder has consistently achieved success by accurately gauging the needs and preferences of today's home buyers, and that builder is Fieldstone.
 At its new-home communities throughout Southern California, nearly every grand opening or phase release since the beginning of the year has attracted campers, many of whom lined up for weeks to be certain of getting the home of their choice.
 A prime example of the drawing power of the Fieldstone name comes from the group's Inland Region, which recently scored immediate sellouts of the debut phases at Fieldstone Terrace, an all-new neighborhood in the established North Orange County city of Brea.
 During successive phase releases prior to the models' grand opening at Terrace, prospective buyers camped out for almost two weeks to purchase one of the collection's three- to five-bedroom residences, which are priced from only $290,990. To date, 35 of the 36 available homes have been sold, 95 percent of which were purchased within one hour of the beginning of sales for each release.
 A similar story unfolded at Fieldstone Legends in Placentia, where homes with up to five bedrooms plus bonus rooms start at an especially low $255,990. The first preview phase drew campers and sold out quickly, and a second preview phase was released in advance of the grand opening to meet continuing demand.
 In addition, Fieldstone Crest in the master-planned Chino Hills community of Laband Village has continuously out-sold the competition, setting a trend that began with a lottery sellout of the first two phases, when the neighborhood premiered in October of 1991. With prices starting in the mid-$200,000s, Fieldstone Crest features six two-story floor plans with up to five bedrooms.
 Julie Hutchinson, sales and merchandising manager for Fieldstone's Inland Region, attributed the ongoing success to a variety of factors. "Fieldstone is known for providing design and construction excellence and for giving families maximum value," she said, "but the deciding factor has been the fact that we listen to what buyers tell us, and we respond to their wishes. Each of our communities -- Terrace, Legends and Crest -- is a product of extensive research. The floor plans and the appointments have been carefully refined to fulfill and often to exceed the expectations of the home-buying public. The lotteries, campouts and the resulting sellouts confirm that our customers recognize our efforts."
 Reflecting the builder's consumer-minded approach, Fieldstone Crest, Fieldstone Terrace and Fieldstone Legends feature many value- enhancing extras that buyers have asked for. Among them are extra- large secondary bedrooms, solid mahogany entry doors, painted wood window sills, oversized walk-in wardrobes with mirrored doors, extra storage space for linens, cable TV and telephone outlets in every bedroom and oak kitchen cabinets with adjustable shelves, roller- glide drawers, roll-out pot-and-pan drawers and easy-care laminate interiors. Fieldstone even provides light bulbs in all light fixtures, which is highly unusual for new home builders.
 All neighborhoods also provide the extra spaciousness that large families require. Varying plans offer the added dimension of a multipurpose bonus room, a relaxing den or a master-bedroom retreat.
 The Inland Region's achievements are mirrored at Fieldstone developments from Orange County to San Diego. A phase of 12 single- family homes sold out in hours following a campout at La Tierra in Rancho Santa Margarita. At Fieldstone Marin and Fieldstone Tiburon in San Diego County's Mirador Park community, campers lined up for every phase during the first quarter of 1992.
 Overall, 357 families purchased Fieldstone homes during the first three months of this year, and the momentum continues.
 The Fieldstone group of companies recently celebrated its 10th anniversary. Named "1989 California Builder of the Year" by California Builder magazine and "1989 National Builder of the Year" by Professional Builder magazine, Fieldstone has consistently remained a top favorite of local families. The Los Angeles Times ranks the group as Southern California's second-largest home builder.
 Additional information on Fieldstone's Inland Region projects is available by calling 714-990-3006.
 -0- 9/14/92
 /CONTACT: Beth Thompson or Francine Burton of The Fieldstone Company, 714-556-4365/ CO: The Fieldstone Company ST: California IN: CST SU:


BP-LS -- LA001 -- 9046 09/14/92 10:33 EDT
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Date:Sep 14, 1992
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