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DEL WEBB REPORTS INCREASES IN HOME SALES ORDERS AND CLOSINGS

 DEL WEBB REPORTS INCREASES IN HOME SALES ORDERS AND CLOSINGS
 PHOENIX, Ariz., July 9 /PRNewswire/ -- Del Webb Corporation (NYSE: WBB) today reported increases in new sales orders and closings for its fiscal year ended June 30, 1992. For the year the company had a 27 percent increase in new sales orders for homes and a 12 percent increase in home closings.
 Sales and closing activity remained strong at the company's Sun City communities in Phoenix, Tucson and Las Vegas. At Sun City West near Phoenix, sales orders reached their highest level in five years with 774 sales, compared to 608 during the same period one year ago. Home closings there increased nine percent to 672 compared to 617 one year ago.
 Company-wide, Webb recorded 2,086 new sales orders this fiscal year, compared to 1,640 during the same period one year ago. The increase is mainly attributable to Sun City West and Coventry Homes, the company's conventional home building operation in Phoenix which it acquired in January 1991.
 The company closed 1,855 homes this fiscal year, compared to 1,660 during the same period one year ago. The increase came primarily from Coventry Homes and offset a 12 percent decline at Sun City Las Vegas which was expected following two years of extraordinarily high volume.
 During its first full year of operation, Coventry recorded 406 new sales orders and 247 home closings.
 Chairman and Chief Executive Officer Philip J. Dion said he was very pleased with the company's performance during the fiscal year. "In a year when housing starts fell to their lowest level since World War II, our results speak to the consistency of the active adult market," Dion said.
 Dion said he was especially pleased by the company's performance because management at Sun City West and Sun City Las Vegas were involved in the expansion of those communities. "In essence, we were creating new communities at those locations, and we were able to balance production with growth," he said.
 Sun City Palm Springs received permission from the California Department of Real Estate on June 30, 1992 to take binding sales contracts. The community held its official Grand Opening July 3-5. The company's backlog of homes under contract also increased by 22 percent from a year ago to 1,263 units at June 30, 1992 with a contract amount of $182 million. These figures do not include home reservations for Sun City Palm Springs.
 "With Sun City Palm Springs now contributing to our backlog, and soon to our closings and revenues, we should see an improvement in our results in the current fiscal year," Dion said.
 Del Webb Corporation, based in Phoenix, is the nation's leading developer of active adult communities with projects in the Phoenix, Tucson, Las Vegas and Palm Springs areas.
 DEL WEBB CORPORATION AND SUBSIDIARIES
 Selected Operating Data
 Year ended June 30,
 1992 1991
 Number of new sales orders:
 Sun City West 774 608
 Sun City Tucson 249 239
 Sun City Las Vegas 657 728
 Total Active Adult Communities 1,680 1,575
 Coventry 406 65
 Total 2,086 1,640
 Number of home closings:
 Sun City West 672 617
 Sun City Tucson 235 202
 Sun City Las Vegas 701 800
 Total Active Adult Communities 1,608 1,619
 Coventry 247 41
 Total 1,855 1,660
 At June 30,
 1992 1991
 Homes under contract (backlog):
 Sun City West 484 382
 Sun City Tucson 226 212
 Sun City Las Vegas 340 384
 Total Active Adult Communities 1,050 978
 Coventry 213 54
 Total 1,263 1,032
 Contract sales amounts $182,000,000 $148,000,000
 -0- 7/9/92
 /CONTACT: Ken Plonski of Del Webb, 602-468-6871 (office) or 602-972-1210 (home)/
 (WBB) CO: Del Webb Corp. ST: Arizona IN: SU:


CH -- SD002 -- 7843 07/09/92 12:29 EDT
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Date:Jul 9, 1992
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