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PHM ANNOUNCES NAME CHANGE AND MANAGEMENT REALIGNMENT

 BLOOMFIELD HILLS, Mich., June 30 /PRNewswire/ -- PHM Corporation (PHM), (NYSE: PHM) (Contact: Robert K. Burgess, 313-647-2750) announced that its name change to Pulte Corporation, approved by shareholders at the recent annual meeting, will become effective on July 1, 1993. The Company, which will continue to trade under the symbol "PHM" on the New York Stock Exchange, believes that its use of the "Pulte" name will increase awareness of its identity and help it achieve greater recognition in the financial markets and the homebuilding industry as it continues its growth and expansion efforts. The Company's principal subsidiary and homebuilding entity will continue to operate as Pulte Home Corporation.
 In order to better meet the demands of continued growth and expansion of its operations, the Company also announced a realignment of its senior financial positions. Michael D. Hollerbach, 40, a director of the Company and formerly Senior Vice President and head of financial services operations, will become Executive Vice President and Chief Financial Officer of Pulte Corporation. In this capacity, Mr. Hollerbach will continue to participate in the establishment of strategic direction and management oversight. To assist in the management of the growth of the Company's homebuilding operations, William J. Crombie, 46, Senior Vice President of the Company and formerly its Chief Financial Officer, will become Senior Vice President and Chief Financial Officer of Pulte Home Corporation. With this realignment, Mr. Crombie will be able to focus specifically on strategic financial functions related to the continued growth of the Company's homebuilding operations and expansion into new homebuilding markets.
 -0- 06/30/93
 /CONTACT: Robert K. Burgess of PHM Corporation, 313-647-2750/
 (PHM)


CO: PHM Corporation ST: Michigan IN: PER SU: CST

KR -- DE018 -- 7289 06/30/93 15:36 EDT
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Publication:PR Newswire
Date:Jun 30, 1993
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