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ROTTLUND ANNOUNCES FORMATION OF MORTGAGE COMPANY

 MINNEAPOLIS, Aug. 4 /PRNewswire/ -- The Rottlund Company, Inc. (NASDAQ-NMS: RHOM) today reported that it will be establishing a mortgage company, which initially will support its growing residential home construction business. This new mortgage company, as yet unnamed pending approvals, will be a wholly owned subsidiary of The Rottlund Company, Inc. (Rottlund Homes) and will be based in the company's present corporate headquarters.
 According to company officials, Rottlund will be following the trend among many other home builders, nationally, who offer mortgages to their home buyers. As a result of increased sales volume, the company believes this as an appropriate time to enter this business. The mortgage company will offer mortgages to customers and create an additional revenue source for the company.
 Initially the mortgage subsidiary will act as a correspondent for other mortgage companies, thereby offering customers a varied selection of mortgage products and reducing some of the risks associated with entering the mortgage business.
 The Rottlund Company, Inc., through its subsidiaries, designs, builds, and markets detached single family homes and attached townhomes and villas in Minnesota, Iowa and Florida.
 -0- 8/4/93
 /CONTACT: Larry Shapiro of Rottlund Homes, 612-571-0304/
 (RHOM)


CO: The Rottland Company, Inc. ST: Minnesota IN: CST SU: PDT

KH -- MN006 -- 9267 08/04/93 10:14 EDT
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Publication:PR Newswire
Date:Aug 4, 1993
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