DR Horton Pricing $500M 4.0% Senior Notes Due In 2020

D.R. Horton, Inc. (NYSE: DHI), America's Builder, announced that it has priceda registered underwritten public offering of $500 million aggregate principalamount of 4.000% senior notes due 2020. The senior notes will pay interestsemi-annually at a rate of 4.0% per year and will mature on February 15, 2020.The closing of the offering is expected to occur on February 9, 2015, subjectto customary closing conditions. D.R. Horton will use the net proceeds of theoffering for general corporate purposes.Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. MorganSecurities LLC, RBS Securities Inc. and Wells Fargo Securities, LLC are actingas Joint Book-Running Managers in the transaction.The Company has filed a registration statement (including a prospectussupplement) with the Securities and Exchange Commission (SEC) for the offeringto which this press release relates. Copies of the preliminary prospectussupplement, the accompanying prospectus and when available, the finalprospectus supplement, may be obtained by visiting EDGAR on the SEC's websiteat www.sec.gov, by contacting Citigroup Global Markets Inc. by telephone at(800) 831-9146 (toll free) or at the following address: Citigroup GlobalMarkets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue,Edgewood, NY 11717.This press release shall not constitute an offer to sell or a solicitation ofan offer to buy these senior notes, nor shall there be any offer, solicitationor sale of these senior notes in any state or jurisdiction in which such anoffer, solicitation or sale would be unlawful. The senior notes offering isbeing made only by means of the prospectus supplement and accompanyingprospectus.Portions of this document may constitute "forward-looking statements" asdefined by the Private Securities Litigation Reform Act of 1995. Although D.R.Horton believes any such statements are based on reasonable assumptions, thereis no assurance that actual outcomes will not be materially different. Allforward-looking statements are based upon information available to D.R. Hortonon the date this release was issued. D.R. Horton does not undertake anyobligation to publicly update or revise any forward-looking statements,whether as a result of new information, future events or otherwise. Theforward-looking statements include that the closing of the offering isexpected to occur on February 9, 2015, subject to customary closingconditions, and that D.R. Horton will use the net proceeds of the offering forgeneral corporate purposes.Factors that may cause the actual results to be materially different from thefuture results expressed by the forward-looking statements include, but arenot limited to: potential deterioration in homebuilding industry conditions orgeneral economic conditions; the cyclical nature of the homebuilding industryand changes in economic, real estate and other conditions; constriction of thecredit markets, which could limit our ability to access capital and increaseour costs of capital; reductions in the availability of mortgage financing andthe liquidity provided by government-sponsored enterprises, the effects ofgovernment programs, a decrease in our ability to sell mortgage loans onattractive terms or an increase in mortgage interest rates; the risksassociated with our land and lot inventory; home warranty and constructiondefect claims; supply shortages and other risks of acquiring land, buildingmaterials and skilled labor; reductions in the availability of performancebonds; increases in the costs of owning a home; the impact of an inflationary,deflationary or higher interest rate environment; the effects of governmentalregulations and environmental matters on our homebuilding operations; theeffects of governmental regulation on our financial services operations; oursubstantial debt and our ability to comply with related debt covenants,restrictions and limitations; competitive conditions within the homebuildingand financial services industries; our ability to effect our growth strategiesor acquisitions successfully; our ability to realize the full amount of ourdeferred income tax assets; the effects of the loss of key personnel; theeffects of negative publicity; and information technology failures and datasecurity breaches. Additional information about issues that could lead tomaterial changes in performance is contained in D.R. Horton's annual report onForm 10-K and our most recent quarterly report on Form 10-Q, both of which arefiled with the Securities and Exchange Commission.Contact:D.R. Horton, Inc.Jessica Hansen, 817-390-8200Vice President of CommunicationsInvestorRelations@drhorton.com