Investors

MCLEAN, Va., April 6 /PRNewswire/ -- NVR, Inc. (Amex: NVR), one of the nation's largest homebuilding and mortgage banking companies today announced preliminary results for the three months ended March 31, 1999. New orders for the first quarter totaled 2,541 units, a 12% increase over the same period of 1998. Settlements increased in the first three months of 1999 to 2,098 units, 36% more than the first quarter of 1998. As a result, backlog at March 31, 1999 (5,016 units) was 28% higher than at the same time last year.

In addition, NVR also announced that it anticipates the release of earnings for the first quarter of 1999 during the week of April 19, 1999. The Company believes that diluted earnings per share for the first three months of 1999 will exceed the highest of four analyst estimates ($1.45 per share) by at least 30%.

Some of the statements in this press release may constitute "forward- looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Certain, but not necessarily all, of the forward-looking statements can be identified by the use of forward-looking terminology, such as "believes", "expects", "may", "will", "should", or "anticipates" or the negative thereof or other variations thereof or comparable terminology, or by discussion of strategies, each of which involves risks and uncertainties. All statements other than historical facts included herein, including expected earnings results and analysts' estimates are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results or performance of the Company to be materially different from any future results, performance or achievement expressed or implied by the forward-looking statements. Such risk factors include, but are not limited to, general economic and business conditions (on both a national and regional level), interest rate changes, competition, the availability and cost of land and other raw materials used by the Company in its homebuilding operations, shortages of labor, weather related slow downs, building moratoria, governmental regulation, the ability of the Company to integrate any acquired business, technological problems encountered with Year 2000 issues, certain conditions in financial markets and other factors over which the Company has little or no control.

/CONTACT: Paul Columbus of NVR, 703-761-2414/