Standard Pacific Corp. Announces Preliminary Discussions with TOUSA, Inc.

IRVINE, Calif. (Map) - IRVINE, Calif., Dec. 19 /PRNewswire-FirstCall/ -- While it is the policy of Standard Pacific Corp. (NYSE: SPF) not to comment on market rumors or speculation, the Company has decided to issue the following statement:

"Although the homebuilding industry is experiencing challenges at this time, we believe that there may be attractive land and corporate opportunities worth considering. We continuously review acquisition and other strategic opportunities which could enhance value for our stockholders. To this end, the Company is engaged in preliminary discussions and the exchange of information with TOUSA, Inc. regarding a possible transaction. There can be no assurances that any transaction will occur, or as to the timing, structure or terms of any transaction. That said, the Company does not anticipate having any further comment unless and until a definitive agreement for a transaction is reached."

Standard Pacific Corp., one of the nation's largest homebuilders, has built homes for more than 103,000 families during its 42-year history. The Company constructs homes within a wide range of price and size targeting a broad range of homebuyers. Standard Pacific operates in many of the largest housing markets in the country with operations in major metropolitan areas in California, Florida, Arizona, the Carolinas, Texas, Colorado and Nevada. The Company provides mortgage financing and title services to its homebuyers through its subsidiaries and joint ventures, Standard Pacific Mortgage, Inc., SPH Home Mortgage and SPH Title. For more information about the Company and its new home developments, please visit our website at: http://www.standardpacifichomes.com.

This news release contains forward-looking statements. These statements include but are not limited to statements regarding: our consideration of potential acquisitions and other strategic opportunities, including a potential transaction with TOUSA, Inc. There can be no assurances that any transaction will occur, or as to the timing, structure or terms of any transaction. Forward-looking statements are based on our current expectations or beliefs regarding future events or circumstances, and you should not place undue reliance on these statements. Such statements involve known and unknown risks, uncertainties, assumptions and other factors many of which are out of the Company's control and difficult to forecast that may cause actual results to differ materially from those that may be described or implied.