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RYLAND BOARD ELECTS ANNE SCHNITZER TREASURER

 RYLAND BOARD ELECTS ANNE SCHNITZER TREASURER
 COLUMBIA, Md., April 21 /PRNewswire/ -- The Ryland Group, Inc.


(NYSE: RYL) today announced that the board of directors elected Anne W. Schnitzer as treasurer of the company at its regular meeting on April 15, 1992.
 Schnitzer joined Ryland on April 20, 1987, as the assistant controller of Ryland Mortgage Company. In 1988, she was promoted to her most current position as controller of Ryland Mortgage Company.
 A graduate of Loyola College in Baltimore, Schnitzer earned a bachelor's degree in accounting in 1981.
 Ryland is one of the nation's most diversified homebuilders, with operations in 15 states and 26 markets. Its mortgage company and subsidiaries provide mortgage-banking services, issue and administer mortgage-backed securities and manage RAC Income Fund, a closed-end mutual fund (NYSE: RMF).
 /delval/
 -0- 4/21/92
 /CONTACT: Vaike O'Grady of The Ryland Group, 410-730-2691/
 (RYL RMF) CO: The Ryland Group, Inc. ST: Maryland IN: CST SU: PER


CC-LJ -- PH049 -- 0868 04/21/92 16:33 EDT
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Publication:PR Newswire
Date:Apr 21, 1992
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