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SCHULER HOMES ENTERS INTO AN AGREEMENT TO PURCHASE 28 ACRES OF LAND IN WAILUKU, MAUI; SCHULER HOMES APPOINTS ITS SECOND INDEPENDENT DIRECTOR

SCHULER HOMES ENTERS INTO AN AGREEMENT TO PURCHASE 28 ACRES OF LAND IN
 WAILUKU, MAUI; SCHULER HOMES APPOINTS ITS SECOND INDEPENDENT DIRECTOR
 HONOLULU, June 15 /PRNewswire/ -- On June 11, 1992, Schuler Homes Inc. (NASDAQ: SHLR) entered into an agreement to purchase approximately 28 acres of land in Wailuku, Maui from C. Brewer Properties Inc., a major land owner in Hawaii. In partnership with C. Brewer Properties Inc., Schuler Homes plans to develop approximately 480 affordable townhomes. The satisfaction of certain conditions by C. Brewer Properties Inc. and Schuler Homes Inc. is precedent to the purchase of the land and subsequent partnership formation.
 Schuler Homes' President and Chief Executive Officer Jim Schuler said, "We're looking forward to this venture with C. Brewer Properties Inc. and the establishment of a long-term working relationship with C. Brewer."
 On June 11, 1992, Schuler Homes Inc. appointed Bert T. Kobayashi Jr., as a director and to the Audit Committee and Compensation Committee of the board. Kobayashi is one of two independent directors.
 Kobayashi is a senior partner of the Honolulu law firm Kobayashi, Sugita, & Goda. Kobayashi has been a director of First Hawaiian Bank since 1975 and now also sits as a director of FHB Holding Co. Inc. Kobayashi serves on the board of directors of Inter-Continental Medical Services, Honolulu Community Services Foundation, Hawaii Theatre Corp., and the Nuuanu YMCA. He served on the state of Hawaii's Judicial Selection Commission from 1985 through 1991, and was its chairperson from 1987 through 1989. Kobayashi is a member of the American Trial Lawyers Association, the American Board of Trial Advocates, the American Arbitration Association and the Executive Committee of the Japan-Hawaii Economic Council.
 Schuler Homes Inc. said it is honored to have Bert Kobayashi joining its board of directors. Jim Schuler said, "Bert's experience and expertise will be a valuable asset to this company. We look forward to working with him."
 -0- 06/15/92
 CONTACT: James K. Schuler, president and CEO, or Pamela S. Jones, VP-finance and CFO of Schuler Homes, 808-521-5661
 (SHLR) CO: SCHULER HOMES INC., C. BREWER PROPERTIES INC. SU: PER RLE ST: HI -- LA005 -- X375 06/15/92
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Publication:PR Newswire
Date:Jun 15, 1992
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