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SCHULER HOMES INC. ANNOUNCES PUBLIC OFFERING OF COMMON STOCK

 HONOLULU, Nov. 19 /PRNewswire/ -- Schuler Homes Inc. (NASDAQ: SHLR) announced today that it has completed a public offering of 2,700,000 shares of common stock. Of the 2,700,000 shares of common stock offered at a price of $24.25 per share, 700,000 shares were offered by the company and 2,000,000 shares were offered by the principal stockholder, James K. Schuler. The company and 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 underwriter by the company and Schuler. The offering was made through Montgomery Securities and is expected to close on Nov. 29, 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.
 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 St., 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, multifamily homes, such as condominiums and townhomes and, to a lesser extent, residential lots.
 -0- 11/19/93
 /CONTACT: James K. Schuler, president & CEO, or Pamela S. Jones, senior VP of Finance & CFO, of Schuler Homes, 808-521-5661/
 (SHLR)


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

JL -- NYON1 -- 6384 11/19/93 08:00 EST
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Publication:PR Newswire
Date:Nov 19, 1993
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