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LENNAR ANNOUNCES COMMON STOCK OFFERING

 LENNAR ANNOUNCES COMMON STOCK OFFERING
 MIAMI, March 31 /PRNewswire/ -- Lennar Corporation (NYSE: LEN)


announced that it has amended a registration statement previously filed with the Securities and Exchange Commission to change the securities being offered from $75 million principal amount of convertible subordinated debentures to 2,750,000 shares of common stock (plus an additional 412,500 shares which may be issued on exercise of an option granted to the underwriters which they can exercise to cover over-allotments, if any, in the offering). The shares will be sold by Lennar, and therefore, the entire net proceeds will be added to its shareholders' equity.
 The shares which are the subject of the registration statement are to be offered in the United States and Canada through underwriters managed by Morgan Stanley & Co. Incorporated, Goldman, Sachs & Co. and Merrill Lynch & Co. and internationally through underwriters managed by Morgan Stanley International, Goldman Sachs International Limited and Merrill Lynch International Limited.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 Lennar is a full-service real estate company, primarily engaged in homebuilding in Florida, Arizona and Texas, the development and mangement of commercial and residential income-producing properties and real estate related financial services.
 -0- 3/31/92
 /CONTACT: Allan J. Pekor, financial vice president of Lennar Corporation, 305-559-4000/ CO: Lennar Corporation ST: Florida IN: CST SU: OFR


SS-JB-AK -- FL018 -- 3664 03/31/92 18:44 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Mar 31, 1992
Words:318
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