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ORIOLE HOMES REPORTS SECOND QUARTER SALES DATA; BACKLOG OF UNDELIVERED HOUSING INCREASES 20 PERCENT

 DELRAY BEACH, Fla., July 8 /PRNewswire/ -- Oriole Homes Corp. (AMEX: OHC.A, OHC.B) today reported preliminary unaudited sales data for the second quarter and six months ended June 30, 1993.
 The company reported that it entered into 221 new sales contracts, valued at $30,009,517, during the recently ended second quarter, compared with 213 new sales contracts, valued at $27,418,664, during the second quarter of 1992.
 The value of the company's backlog of undelivered housing, which reflects new sales contracts which have yet to close, increased 20 percent to $54,094,315 (representing 410 units) as of June 30, 1993, from $44,938,215 (representing 330 units) as of June 30, 1992. The value of the company's backlog of undelivered housing was $41,920,318 (representing 339 units) as of March 31, 1993, and $29,476,929 (representing 240 units) as of Dec. 31, 1992.
 Sales of houses and condominiums closed during the second quarter ended June 30, 1993 amounted to $17,835,520 (150 units), compared to $21,006,322 (170 units) during the same quarter of 1992. Sales of houses and condominiums closed during the six months ended June 30, 1993 totaled $35,819,322 (295 units), compared with $36,974,219 (303 units) during the first six months of 1992.
 "We are very pleased with the continued positive trend in backlog and new sales contracts," commented Mark A. Levy, president of Oriole Homes Corp. "In fact, since the start of the year, not only has gross backlog improved, but the average unit price of that backlog has increased to $131,937, from $123,659 as of March 31, 1993 and $122,821 as of Dec. 31, 1992. While sales during the recently ended quarter did decline relative to 1992's second quarter, we believe the positive trends underlying our business will allow us to post higher sales for the year as a whole."
 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- 7/8/93
 /CONTACT: Mark A. Levy, president of Oriole Homes Corp., 407-274-2000/
 (OHC.A OHC.B)


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

RC-AW -- FL006 -- 9508 07/08/93 12:42 EDT
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Date:Jul 8, 1993
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