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M/I SCHOTTENSTEIN HOMES, INC., REPORTS RECORD LEVELS OF NEW CONTRACTS, HOMES DELIVERED, AND YEAR-END BACKLOG FOR 1993

 COLUMBUS, Ohio, Jan. 12 /PRNewsiwre/ -- M/I Schottenstein Homes, Inc., (NYSE: MHO) today announced that record levels of new contracts, homes delivered, and year-end backlog were achieved for the year ended Dec. 31, 1993.
 The company recorded 3,222 contracts for new homes in 1993, a 16% increase over the 2,788 contracts recorded for 1992, and delivered 2,926 homes, a 15% increase over the 2,546 homes delivered in the prior year.
 The backlog of homes at Dec. 31, 1993, was 1,440 units with a sales value of approximately $228,000,000. At the end of 1992, the backlog numbered 1,144 units with a sales value of approximately $170,000,000. The average sales price of homes in backlog was $158,000 at the end of 1993 and $148,000 at Dec. 31, 1992.
 The company expects to report 1993 financial results on or about March 1, 1994.
 M/I Schottenstein Homes, Inc., is one of the nation's leading builders of single-family homes. The company's homes are marketed and sold under the trade names M/I Homes and Showcase Homes. The company currently operates homebuilding divisions in Columbus and Cincinnati, Ohio; Tampa, Orlando, and Palm Beach County, Fla.; Charlotte and Raleigh, N.C.; Indianapolis; and the Washington, D.C., area.
 -0- 1/12/94
 /CONTACT: Phillip G. Creek, senior vice president, of M/I Schottenstein Homes, 614-221-5700/
 (MHO)


CO: M/I Schottenstein Homes, Inc. ST: Ohio IN: CST SU:

BM -- CL008 -- 1360 01/12/94 10:46 EST
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Publication:PR Newswire
Date:Jan 12, 1994
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