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PRESLEY COMPANIES ISSUES STATEMENT ON LITIGATION

 PRESLEY COMPANIES ISSUES STATEMENT ON LITIGATION
 NEWPORT BEACH, Calif., Aug. 20 /PRNewswire/ -- The Presley


Companies (NYSE: PDC) today announced that it has been served with a complaint involving an alleged securities class action against the Company and others for an unspecified amount of damages allegedly arising out of the Company's initial common stock public offering in October 1991 and other conduct since that date. Based on the Company's initial review of the complaint it believes the allegations to be without merit and intends to vigorously defend the action.
 -0- 8/20/92
 /CONTACT: Nancy Harlan of The Presley Companies, 714-640-6400/
 (PDC) CO: The Presley Companies ST: California IN: SU:


KJ -- LA030 -- 1968 08/20/92 20:16 EDT
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Publication:PR Newswire
Date:Aug 20, 1992
Words:118
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