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ORIOLE HOMES REPORTS 13 PERCENT INCREASE IN HOME SALES DURING THE 1993 FIRST QUARTER; NEW CONTRACTS AND BACKLOG ALSO RISE

 DELRAY BEACH, Fla., April 5 /PRNewswire/ -- Oriole Homes Corp. (AMEX: OHC.A, OHC.B) today reported preliminary unaudited sales data for the first quarter ended March 31, 1993.
 Sales of houses and condominiums closed during the first quarter ended March 31, 1993 amounted to $17,983,802 (145 units), representing an increase of 13 percent over $15,967,897 (133 units) during the same quarter of 1992.
 The value of the company's backlog of undelivered housing, which reflects new sales contracts which have yet to close, increased 9 percent to $41,920,318 (representing 339 units) as of March 31, 1993, from $38,525,873 (representing 287 units) as of March 31, 1992. The value of the company's backlog of undelivered housing was $29,476,929 (representing 240 units) as of Dec. 31, 1992.
 The company also reported that it entered into 244 new sales contracts, valued at $30,427,191, during the recently ended first quarter, compared with 215 new sales contracts, valued at $26,809,401 during the first quarter of 1992.
 Oriole Homes is engaged principally in the design, construction, marketing and sale of single-family homes, patio homes, townhomes, villas, duplexes and low- and mid-rise condominiums in Palm Beach and Broward counties in Florida.
 -0- 4/5/93
 /CONTACT: Mark A. Levy, president of Oriole Homes Corp., 407-274-2000; or Barry A. Rothman of Greenstone Roberts Public Relations, 305-975-3500, for Oriole Homes Corp./
 (OHC.A OHC.B)


CO: Oriole Homes Corp. ST: Florida IN: CST SU:

AW-SS -- FL002 -- 2911 04/05/93 09:53 EDT
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Publication:PR Newswire
Date:Apr 5, 1993
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