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TOLL BROTHERS ANNOUNCES RECORD LEVELS OF NEW SALES CONTRACTS

     TOLL BROTHERS ANNOUNCES RECORD LEVELS OF NEW SALES CONTRACTS
    HUNTINGDON VALLEY, Pa., Nov. 12 /PRNewswire/ -- Toll Brothers, Inc. (NYSE: TOL), a builder of luxury homes in the Boston-to-Washington corridor, announced today that the levels of new sales contracts signed in its fourth quarter and fiscal year ended Oct. 31, 1991, were the highest in the company's history.
    The aggregate sales value of new contracts signed in fiscal 1991 eclipsed the company's previous best year, fiscal 1987, by over 20 percent, and exceeded fiscal 1990 by over 40 percent.  For fiscal 1991, the sales value of new contracts signed totaled approximately $230,324,000, consisting of a record 863 homes, compared to the fiscal 1987 total of $190,680,000, consisting of 756 homes.
    The levels of new sales contracts signed in this year's fourth quarter, 211 homes with an aggregate sales value of approximately $56,586,000, established a new fourth-quarter high for the company, marking the third consecutive quarter in which a new company record for sales contracts was set.  Again, the previous high was established in fiscal 1987, a boom year for housing sales.
    Robert I. Toll, chairman and chief executive officer, stated that the company's new sales contract records for each of the last three quarters are more a function of diminished competition, resulting from the recession and credit crisis, than a general improvement in housing demand.  Accordingly, he noted, caution remains the company's watchword.
    Toll Brothers, Inc. designs, builds, markets and arranges financing for luxury single-family homes, townhomes and condominiums in the Boston-to-Washington corridor.
    -0-           11/12/91
    /CONTACT:  John W. Moore of Toll Brothers, 215-938-8000, or Cindy Knoebel, 212-661-8030, or Stephanie Rohlin, 312-266-7800, both of the Financial Relations Board, for Toll Brothers/
    (TOL) CO:  Toll Brothers, Inc. ST:  Pennsylvania IN:  CST SU:  CON CK-OS -- NY056 -- 3478 11/12/91 12:46 EST
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Publication:PR Newswire
Date:Nov 12, 1991
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