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SCHULER HOMES, INC. FILES REGISTRATION STATEMENT TO OFFER 2,700,000 SHARES OF COMMON STOCK

 HONOLULU, Nov. 8 /PRNewswire/ -- Schuler Homes, Inc. (NASDAQ: SHLR) announced today that it has filed a Registration Statement on Form S-3 with the Securities and Exchange Commission for the proposed public offering of its Common Stock. Of the 2,700,000 shares of Common Stock being offered, 700,000 shares are being sold by the Company and 2,000,000 shares are being sold by the principal stockholder, James K. Schuler. The Company and Mr. Schuler have agreed to sell up to an additional 405,000 shares in the offering upon exercise of an over- allotment option granted to the underwriters by the Company and Mr. Schuler. Montgomery Securities is underwriting the offering, which is expected to commence in November 1993.
 The Company expects to use the net proceeds from the offering for general corporate and working capital purposes including the reduction of indebtedness under the Company's bank line of credit and the purchase of additional land inventory for residential development.
 A registration statement relating to these securities has been filed
 with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
 This announcement shall not constitute an offer to sell or the


solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State. These securities are offered only by means of a

prospectus. A copy of the prospectus may be obtained by contacting
 Montgomery Securities
 600 Montgomery Street
 San Francisco, CA 94111
 (415)627-2000
 Attn: Syndicate Department
 Schuler homes is one of the leading developers of affordably priced residential housing in Hawaii. The Company's developments primarily consist of single-family homes, multi-family homes, such as condominiums and townhomes and, to a lesser extent, residential lots.
 -0- 11/8/93
 /CONTACT: James K. Schuler, President & CEO 808-521-5661, or Pamela S. Jones, Senior Vice President of Finance & CFO, 808-521-5661/
 (SHLR)


CO: Schuler Homes, Inc. ST: Hawaii IN: CST SU: OFR

LG-TA -- NY025 -- 1632 11/08/93 09:23 EST
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Publication:PR Newswire
Date:Nov 8, 1993
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