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STANDARD PACIFIC, L.P. ANNOUNCES RESULTS OF SPECIAL UNITHOLDER MEETING AND FINAL CASH DISTRIBUTION

 STANDARD PACIFIC, L.P. ANNOUNCES RESULTS OF
 SPECIAL UNITHOLDER MEETING AND FINAL CASH DISTRIBUTION
 COSTA MESA, Calif. Dec. 6 /PRNewswire/ -- Arthur E. Svendsen, chairman of the board and chief executive officer of the managing general partner of Standard Pacific, L.P. (NYSE: SPF), announced that unitholders of the company today resolutely approved a proposal to convert the company from a limited partnership into a corporation as of Dec. 31, 1991. Svendsen indicated that management was delighted with the results of the voting at today's special unitholder meeting during which more than 80 percent of the units voted were in favor of the conversion.
 Svendsen also reported that in connection with the approval of the proposal, the board of directors declared the final partnership distribution, based on estimates of 1991 per unit partnership earnings, of $.06 per unit payable on Dec. 31, 1991 to unitholders of record on Dec. 16, 1991.
 It will not be necessary for current partnership unitholders to surrender their certificates representing Standard Pacific L.P. depositary receipts to become a shareholder in Standard Pacific Corp., however, instructions will be mailed to unitholders in late December in the event they wish to receive stock certificates in lieu of the partnership depositary receipts.
 Standard Pacific Corp. will continue to engage in the same businesses as were formally conducted by Standard Pacific L.P. The company operates primarily as geographically diversified builder of medium-priced single family homes with operations in both California and Texas. In addition, the company assists homebuyers in obtaining financing for home purchases through its wholly owned subsidiary, Standard Pacific Savings F.A. The company is also engaged in the manufacture and marketing of movable acoustical office partitions and office furniture through its wholly owned subsidiary, Panel Concepts.
 -0- 12/6/91
 /CONTACT: April J. Morris of Standard Pacific, 714-668-4303/
 (SPF) CO: Standard Pacific L.P. ST: California IN: CST SU:


KJ -- LA015 -- 0167 12/06/91 14:26 EST
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Publication:PR Newswire
Date:Dec 6, 1991
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