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DEL WEBB CORPORATION OPTIONS LAND NEAR AUSTIN, TEXAS

 DEL WEBB CORPORATION OPTIONS LAND NEAR AUSTIN, TEXAS
 PHOENIX, Jan. 29 /PRNewswire/ -- Del Webb Corp. (NYSE: WBB), the


nation's leading developer of active adult communities, announced today that it has entered into an option agreement to acquire 2,400 acres of land near Austin, Texas, as a site for a large-scale active adult community.
 The property is located in western Travis County between Highway 71 and the Pedernales River. It is presently a working cattle ranch owned by Austin rancher Mike Levi and his sister Jocelyn Strauss.
 Philip J. Dion, chairman and chief executive officer, said the agreement provides Del Webb with the opportunity to secure a land parcel, begin preliminary land planning activities, and evaluate market potential.
 "We have been studying the Texas market for more than four years and have identified the Austin area as the optimum site for an active adult community," Dion said. "When we look at Texas today, we see outstanding market opportunities which we simply cannot ignore."
 Del Webb Corp. launched its first Sun City 32 years ago near Phoenix. Its communities now include Sun City West near Phoenix, Sun City Tucson, Sun City Las Vegas and Sun City Palm Springs.
 Webb's Sun Cities are designed to provide people age 55 and older a wide variety of recreational and fitness opportunities. Its communities include golf courses, major recreational centers, shopping and other professional services. The housing is predominantly single family detached homes.
 At a press conference in Austin this morning Dion said that Texas provided "unique opportunities" for the development of an active adult community. "We know Texans are very loyal to their home state. As a group they retire within Texas, and with 2.9 million people over the age of 55, the state provides us with a potential market opportunity surpassed only by California, New York and Florida," Dion said.
 Webb's research also identified several other factors which Dion listed as strong selling points for a Texas active adult community. He identified a very favorable cost-of-living; an area that provides a temperate "four-season" climate; affordable housing in a recovering market as demonstrated by an 18 percent increase in home sales during the 1990-91 calendar year; the second-lowest state tax rate and the fourth-highest in-migration of seniors in the United states.
 "In addition, 76 percent of the Texans we surveyed rated the Austin- area Hill County their first choice for a retirement destination," Dion said. "We know that retirees typically relocate within 200 miles of their previous residence and Austin is within that range for 70 percent of all Texans."
 Preliminary plans for the site include approximately 4,000 homes, 27 holes of golf, a major multi-million dollar recreation complex, equestrian facilities and a marina. Webb will continue to develop its plans for the site during the two-year option period.
 Our internal planning process is quite complex," Dion said. "We want to design a Texas community for Texans and we want to be sure we fully understand local lifestyle considerations. In choosing a site we also tried to be mindful of the community's demonstrated values about preserving environmental quality and we avoided land with habitat and other sensitive environmental constraints."
 The company has already retained several local firms to assist in its planning process including the law firm of Jones Day Reavis & Pogue, Richardson Verdoorn for land planning, and HDR Engineering and Turner Collie & Braden for engineering work. Dion also said the company plans to retain a Texas advertising firm to support its marketing efforts during the two-year option period.
 "While we proceed through our planning process it's important that interested Texans contact us for information," Dion said. "We have found that by establishing early relationships with potential customers, we can better plan our community to reflect their distinctive interests."
 Customer request for updates and additional information about Webb's Austin-area active adult community can be obtained by calling 1-800-4DelWebb or writing to: Del Webb Corp., Sun City Texas, P.O. Box 29040, Phoenix, AZ 85038.
 -0- 1/29/92 R
 /CONTACT: Ken Plonski of Del Webb Corp., 602-468-6871 (office), or 602-972-1210 (home)/
 (WBB) CO: Del Webb Corp. ST: Arizona IN: CST SU:


AL -- SD002 -- 4822 01/29/92 14:41 EST
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Date:Jan 29, 1992
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