TRI Pointe Homes Initiates Exchange Offers

TRI Pointe Homes, Inc.

announced at 4:00 p.m. Eastern Time today that it has commenced its offers to exchange new registered notes for the outstanding unregistered notes that were issued in June 2014 in a private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the "Securities Act"). Under the exchange offers, TRI Pointe is offering to exchange (the "Exchange Offers"): $450,000,000 aggregate principal amount of newly issued 4.375% Senior Notes due 2019 (the "New 2019 Notes") that have been registered under the Securities Act, and the related guarantees, for a like principal amount of outstanding restricted 4.375% Senior Notes due 2019 (the "Outstanding 2019 Notes"), and the related guarantees; and $450,000,000 aggregate principal amount of newly issued 5.875% Senior Notes due 2024 (the "New 2024 Notes" and, together with the New 2019 Notes, the "New Notes") that have been registered under the Securities Act, and the related guarantees, for a like principal amount of outstanding restricted 5.875% Senior Notes due 2024 (the "Outstanding 2024 Notes" and, together with the Outstanding 2019 Notes, the "Outstanding Notes"), and the related guarantees. The New Notes will be guaranteed by TRI Pointe's subsidiaries that guarantee the Outstanding Notes. TRI Pointe will not receive any proceeds from the issuance of the New Notes. The Exchange Offers will not affect TRI Pointe's outstanding debt levels, as New Notes will only be issued upon cancellation of a like principal amount of the corresponding series of Outstanding Notes. The sole purpose of the Exchange Offers is to fulfill TRI Pointe's obligations under the registration rights agreements with holders of the Outstanding Notes. The Exchange Offers will expire at 5:00 p.m. New York City time on June 17, 2015, unless extended (such date and time, as they may be extended, the "Expiration Date"). The settlement date for the Exchange Offers will occur promptly following the Expiration Date. The Exchange Offers are made only pursuant to TRI Pointe's prospectus dated May 19, 2015, which has been filed with the United States Securities and Exchange Commission. TRI Pointe has not authorized any person to provide information other than as set forth in the prospectus.