<SUBMISSION>
<ACCESSION-NUMBER>0000950124-02-001208
<TYPE>DEF 14A
<PUBLIC-DOCUMENT-COUNT>5
<PERIOD>20020515
<FILING-DATE>20020403
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>PULTE HOMES INC/MI/
<CIK>0000822416
<ASSIGNED-SIC>1531
<IRS-NUMBER>382766606
<STATE-OF-INCORPORATION>MI
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>DEF 14A
<ACT>34
<FILE-NUMBER>001-09804
<FILM-NUMBER>02600686
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>33 BLOOMFIELD HILLS PKWY STE 200
<CITY>BLOOMFIELD HILLS
<STATE>MI
<ZIP>48304
<PHONE>2486472750
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>33 BLOOMFIELD HILLS PKWY
<CITY>BLOOMFIELD HILLS
<STATE>MI
<ZIP>48304
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>PHM CORP
<DATE-CHANGED>19920703
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>PULTE CORP
<DATE-CHANGED>19931118
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>k67058ddef14a.htm
<DESCRIPTION>DEFINITIVE PROXY STATEMENT
<TEXT>
<HTML>
<HEAD>
<TITLE>Definitive Proxy Statement - Pulte Homes Inc.</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P align="center"><B>SCHEDULE 14A<BR>
(Rule 14A-101)</B>

<P align="center"><B>INFORMATION REQUIRED IN PROXY STATEMENT<BR>
SCHEDULE 14A INFORMATION</B>

<P align="center"><B>Proxy Statement Pursuant to Section 14(a) of the Securities<BR>
Exchange Act of 1934 (Amendment No.&nbsp;&nbsp;)</B>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Filed by the
registrant &nbsp;&nbsp;<img src="k67058dpi5-178.gif"></TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Filed by a party other than the registrant &nbsp;&nbsp;<img src="k67058dpi5-110.gif"></TD>
</TR>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check the appropriate box:</TD>
</TR>
</TABLE>
<DIV align="left"><FONT size="1">

</FONT></DIV>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="65%" align="center">
<TR valign="bottom">
        <TD width="49%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="46%">&nbsp;</TD>
</TR>



<TR valign="bottom">
        <TD valign="top"><FONT size="2"><img src="k67058dpi5-110.gif">&nbsp;&nbsp; Preliminary proxy statement</FONT></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2">
<img src="k67058dpi5-110.gif">&nbsp;&nbsp; Confidential, for use of the</FONT></TD>
</TR>
<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2">
Commission only (as permitted by</FONT></TD>
</TR>
<TR><TD><TR><TD><TR><TD><TR><TD>
<TR valign="bottom">
        <TD valign="top"></TD>
        <TD></TD>
        <TD align="left" valign="top"><FONT size="2">
Rule&nbsp;14a-6(e)(2).</FONT></TD>
</TR>
</TABLE>
</CENTER>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>

<TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<img src="k67058dpi5-178.gif">&nbsp;&nbsp; Definitive proxy statement.</TD>
</TR>

<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<img src="k67058dpi5-110.gif">&nbsp;&nbsp; Definitive additional materials.</TD>
</TR>
<TR>
        <TD>&nbsp;</TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<img src="k67058dpi5-110.gif">&nbsp;&nbsp; Soliciting material pursuant to Rule&nbsp;14a-11(c) or Rule&nbsp;14a-12.</TD>
</TR>
</TABLE>
<DIV align="left"><FONT size="1">

</FONT></DIV>
<P align="center">PULTE HOMES, INC.
<HR size="1">
<P align="center">(Name of Registrant as Specified in Its Charter)

<p>
<HR size="1">
<P align="center">(Name of Person(s) Filing Proxy Statement if Other Than the Registrant)

<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment of filing fee (check the appropriate box):

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<img src="k67058dpi5-178.gif">&nbsp;&nbsp; No fee required.</TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<img src="k67058dpi5-110.gif">&nbsp;&nbsp; Fee computed on table below per Exchange Act Rules&nbsp;14a-6(i)(1) and
0-11.</TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;Title of each class of securities to which transaction applies:</TD>
</TR>
</TABLE>
<HR size="1">

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;Aggregate number of securities to which transaction applies:</TD>
</TR>
</TABLE>
<HR size="1">

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule&nbsp;0-11 (set forth the amount on which the
filing fee is calculated and state how it was determined):</TD>
</TR>
</TABLE>
<HR size="1">

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;Proposed maximum aggregate value of transaction:</TD>
</TR>
</TABLE>
<HR size="1">

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5)&nbsp;Total fee paid:</TD>
</TR>
</TABLE>
<HR size="1">

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<img src="k67058dpi5-110.gif">&nbsp;&nbsp; Fee paid previously with preliminary materials.</TD>
</TR>
</TABLE>
<HR size="1">

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<img src="k67058dpi5-110.gif">&nbsp;&nbsp; Check box if any part of the fee is offset as provided by Exchange Act
Rule&nbsp;0-11(a)(2) and identify the filing for which the offsetting fee
was paid previously. Identify the previous filing by registration
statement number, or the form or schedule and the date of its filing.</TD>
</TR>
</TABLE>
<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;Amount Previously Paid:</TD>
</TR>
</TABLE>
<HR size="1">


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;Form, Schedule or Registration Statement No.:</TD>
</TR>
</TABLE>
<HR size="1">

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;Filing Party:</TD>
</TR>
</TABLE>
<HR size="1">

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="3%"></TD>
        <TD width="97%"></TD>
</TR>
<TR valign="top">
        <TD>&nbsp;</TD>
        <TD>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4)&nbsp;Date Filed:</TD>
</TR>
</TABLE>
<HR size="1">

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV align="center">
<IMG src="k67058dpultebw1.gif" alt="(PULTE LOGO)">
</DIV>

<P align="center">
<B><FONT size="4">PULTE HOMES, INC.</FONT></B>

<P align="center">
<B><FONT size="2">NOTICE OF ANNUAL MEETING OF
SHAREHOLDERS</FONT></B>

<P align="center">
<B><FONT size="2">To Be Held May&nbsp;15, 2002</FONT></B>

<P align="left">
<FONT size="2">To the Shareholders of Pulte Homes, Inc.:
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We will hold the annual meeting of our
shareholders at the Michigan State University Management
Education Center, Room&nbsp;103, 811&nbsp;West Square Lake Road,
Troy, Michigan, on Wednesday, May&nbsp;15, 2002, at
10:00&nbsp;a.m., Eastern Daylight Time, for the following
purposes:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="4%"></TD>
	<TD width="93%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">(1)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">to elect six directors;
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">(2)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">to act on a proposal to amend our Articles of
	Incorporation to increase the number of authorized shares of
	Common Stock from 100,000,000 shares, $0.01&nbsp;par value, to
	200,000,000 shares, $0.01&nbsp;par value;
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">(3)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">to act on a proposal to adopt the Pulte Homes,
	Inc. 2002 Stock Incentive Plan; and
	</FONT></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">(4)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">to transact such other business as may properly
	come before the meeting.
	</FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Only shareholders of record at the close of
business on March&nbsp;18, 2002 will be entitled to vote at the
meeting.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We call your attention to the attached proxy
statement and the accompanying proxy, which we ask you to sign
and return in the enclosed envelope. No postage is required if
you mail the proxy from within the United States. If you attend
the annual meeting, you may withdraw your proxy and vote your
shares.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">A copy of our Annual Report for the fiscal year
ended December&nbsp;31, 2001 accompanies this notice.
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="38%"></TD>
	<TD width="62%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">By Order of the Board of Directors
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">JOHN R. STOLLER
	</FONT></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">Senior Vice President, General Counsel
	</FONT></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">and Secretary
	</FONT></TD>
</TR>

</TABLE>

<P align="left">
<FONT size="2">Bloomfield Hills, Michigan
</FONT>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="left">
<FONT size="2">April&nbsp;3, 2002
</FONT>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>

<DIV align="left">

</DIV>

<!-- TOC -->
<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

<P><CENTER>
<TABLE border="0" width="90%" cellpadding="0" cellspacing="0">
<TR>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="3%"></TD>
	<TD width="76%"></TD>
</TR>
<TR><TD colspan="9"><A HREF="#000">PROXY STATEMENT FOR THE ANNUAL MEETING OF SHAREHOLDERS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">I. ELECTION OF DIRECTORS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">II. PROPOSED AMENDMENT TO OUR ARTICLES OF INCORPORATION TO INCREASE OUR AUTHORIZED COMMON STOCK</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">III. PROPOSAL TO ADOPT 2002 STOCK INCENTIVE PLAN</A></TD></TR>
<TR><TD colspan="9"><A HREF="#004">IV. OTHER MATTERS</A></TD></TR>
<TR><TD colspan="9"><A HREF="#005">Appendix I</A></TD></TR>
</TABLE>
</CENTER>
<!-- /TOC -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="center">
<B><FONT size="4">PULTE HOMES, INC.</FONT></B>

<DIV align="center">
<B><FONT size="2">33 Bloomfield Hills Parkway,
Suite&nbsp;200</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">Bloomfield Hills, Michigan 48304</FONT></B>
</DIV>

<P align="center">
<HR size="1" width="30%" align="center" noshade>

<DIV>&nbsp;</DIV>

<!-- link1 "PROXY STATEMENT FOR THE ANNUAL MEETING OF SHAREHOLDERS" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="center">
<B><FONT size="2">PROXY STATEMENT FOR THE ANNUAL MEETING OF
SHAREHOLDERS</FONT></B>
</DIV>

<P align="center">
<B><FONT size="2">To Be Held May&nbsp;15, 2002</FONT></B>

<P align="left">
<B><FONT size="2">General Information</FONT></B>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We will hold the annual meeting of our
shareholders at the Michigan State University Management
Education Center, Room&nbsp;103, 811 West Square Lake Road,
Troy, Michigan, on Wednesday, May&nbsp;15, 2002, at
10:00&nbsp;a.m., Eastern Daylight Time, for the purposes set
forth in the accompanying Notice of Annual Meeting of
Shareholders. We are mailing this proxy statement and proxy to
you on or about April&nbsp;3, 2002.
</FONT>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">It is important that your shares be represented
at the annual meeting. If you do not plan to attend the annual
meeting, please sign and date the enclosed proxy and return it
to us. The proxy is solicited by our Board of Directors. Shares
represented by valid proxies in the enclosed form will be voted
if received in time for the annual meeting. We will pay the
expenses that we incur in connection with soliciting proxies,
including the costs of soliciting proxies by mail or by having
our directors, officers and employees contact shareholders. We
will reimburse brokers or other nominees for the expenses that
they incur in forwarding proxy materials to principals. If you
give a proxy, you may revoke it any time before the proxy is
voted.
</FONT>

<P align="left">
<B><FONT size="2">Voting Securities and Principal
Holders</FONT></B>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Only holders of record of shares of common stock,
$.01 par value (the &#147;Common Stock&#148;), at the close of
business on March&nbsp;18, 2002 (the &#147;Record Date&#148;)
are entitled to notice of, and to vote at, the annual meeting or
at any adjournment or adjournments of the annual meeting. Each
share of Common Stock has one vote. On the Record Date,
60,565,191 shares of Common Stock were issued and outstanding.
</FONT>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table provides information
regarding persons whom we know to beneficially own more than
five percent of outstanding Common Stock:
</FONT>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="50%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="10%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="10%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="10%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="2"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Percent of Outstanding</FONT></B></TD><TD></TD>
</TR>

<TR>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Name and Address</FONT></B></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Amount and Nature</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Shares of Common Stock</FONT></B></TD><TD></TD>
</TR>

<TR>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">of Beneficial Owner</FONT></B></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">of Beneficial Ownership</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">as of the Record Date</FONT></B></TD><TD></TD>
</TR>

<TR>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
</TR>

<TR>
	<TD colspan="2" align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">William J. Pulte
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">10,633,284(a</FONT></TD>
	<TD align="left" valign="top" nowrap><FONT size="2">)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">17.55</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<FONT size="2">33 Bloomfield Hills Parkway, Suite 200<BR>
	Bloomfield Hills, MI 48304
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR bgcolor="#EEEEEE">
	<TD colspan="2" align="left" valign="top">
	<FONT size="2">Neuberger Berman, LLC
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">4,310,140(b</FONT></TD>
	<TD align="left" valign="top" nowrap><FONT size="2">)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">7.11</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR bgcolor="#EEEEEE">
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<FONT size="2">605 Third Avenue<BR>
	 New York, NY 10158
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="2" align="left" valign="top">
	<FONT size="2">FMR Corp.&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">4,616,692(c</FONT></TD>
	<TD align="left" valign="top" nowrap><FONT size="2">)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">7.62</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<FONT size="2">82 Devonshire Street<BR>
	Boston, MA 02109
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="left">
<HR size="1" width="18%" align="left" noshade>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="97%"></TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(a)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes (i)&nbsp;249,200 shares of Common Stock
	that Mr.&nbsp;Pulte has the right to acquire within 60&nbsp;days
	of the Record Date pursuant to our stock option plans,
	(ii)&nbsp;9,533,979 Common Stock that are owned by various
	testamentary trusts of which Mr.&nbsp;Pulte is the sole trustee
	and income beneficiary, and (iii)&nbsp;35,302 shares of Common
	Stock representing Mr.&nbsp;Pulte&#146;s share of Common Stock
	held by the Pulte Homes, Inc. Stock Fund of the Pulte Homes,
	Inc. Investment Savings Plus Plan (401(k) plan) as of the Record
	Date. Mr.&nbsp;Pulte has voting power but not investment power
	with respect to 28 of the shares of Common Stock held by the
	Pulte Homes, Inc. Stock Fund. Mr.&nbsp;Pulte owns units of the
	Pulte Homes, Inc. Stock Fund, which consists of cash and Common
	Stock in amounts that vary from time to time.
	</FONT></TD>
</TR>

</TABLE>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="center">

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="97%"></TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(b)</FONT></TD>
	<TD align="left">
	<FONT size="2">This information is derived from a
	Schedule&nbsp;13G filed by Neuberger Berman, Inc. on
	February&nbsp;12, 2002. According to the Schedule&nbsp;13G,
	Neuberger Berman, LLC has sole voting power over
	2,964,340&nbsp;shares of Common Stock and shared dispositive
	power over 4,310,140 shares of Common Stock. Neuberger Berman,
	LLC disclaims beneficial ownership of an additional 462,300
	shares of Common Stock which are owned by employees of Neuberger
	Berman, LLC and its affiliate, Neuberger Berman Management, Inc.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(c)</FONT></TD>
	<TD align="left">
	<FONT size="2">This information is based on a Schedule&nbsp;13G
	filed by FMR Corp. dated February&nbsp;14, 2002. According to
	the Schedule&nbsp;13G, FMR Corp. has sole voting power over
	582,472 shares of Common Stock and sole power to dispose or
	direct the disposition of 4,616,692 shares of Common Stock.
	</FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">2
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left">


<!-- link1 "I. ELECTION OF DIRECTORS" -->
<DIV align="left"><A NAME="001"></A></DIV>

<DIV align="center">
<B><FONT size="2">I.&nbsp;ELECTION OF DIRECTORS</FONT></B>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Our Board of Directors proposes that
(a)&nbsp;D.&nbsp;Kent Anderson, Mark&nbsp;J. O&#146;Brien,
John&nbsp;J. Shea and William B. Smith be elected as directors
to hold office until the annual meeting of our shareholders in
2005, (b)&nbsp;Michael&nbsp;E. Rossi be elected as a director to
hold office until the annual meeting of our shareholders in
2004, and (c)&nbsp;Bernard W. Reznicek be elected as a director
to hold office until the annual meeting of our shareholders in
2003, or, in each case, until his successor is elected and
qualified.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The persons named in the accompanying proxy
intend to vote all valid proxies received by them for the
election of the nominees proposed by our Board of Directors,
unless such proxies are marked to the contrary. The four
nominees for a term expiring in 2005 and the nominees for terms
expiring in 2003 and 2004 receiving the greatest number of votes
cast at the meeting or its adjournment will be elected.
Abstentions, withheld votes and broker non-votes will not be
deemed votes cast in determining which nominees receive the
greatest number of votes cast, but they will be counted for
purposes of determining whether a quorum is present. If a
nominee is unable or declines to serve, which we do not
anticipate to occur, the proxy holder will vote the proxies in
accordance with his best judgment. The following table provides
information regarding (a)&nbsp;each nominee for election as a
director, (b)&nbsp;each director whose term of office as a
director will continue after the annual meeting, (c)&nbsp;each
executive officer named in the Summary Compensation Table below,
and (d)&nbsp;and all named directors and all executive officers
as a group:
</FONT>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="26%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="22%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="7%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="7%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Percentage of</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Outstanding</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Shares of Our</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Shares of Our</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD align="center" nowrap><B><FONT size="1">Positions and</FONT></B></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Common Stock</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Common Stock</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD align="center" nowrap><B><FONT size="1">Offices with Pulte</FONT></B></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Beneficially Owned</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Beneficially Owned</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD align="center" nowrap><B><FONT size="1">Name and Year</FONT></B></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD align="center" nowrap><B><FONT size="1">and Other</FONT></B></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">as of the</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">as of the</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Term</FONT></B></TD><TD></TD>
</TR>

<TR>
	<TD align="center" nowrap><B><FONT size="1">First Became a Director</FONT></B></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Age</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD align="center" nowrap><B><FONT size="1">Principal Occupations</FONT></B></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Record Date(a)</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Record Date</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">to Expire</FONT></B></TD><TD></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
</TR>

<TR>
	<TD colspan="19" align="center" valign="top">
	<B><FONT size="2">Nominees for Election as Directors</FONT></B></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">D. Kent Anderson (2001)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">60</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom">
	<FONT size="2">Chairman of Beacon Management Corp.
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">18,975</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(b)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2005</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Mark J. O&#146;Brien (2001)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">59</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom">
	<FONT size="2">President and Chief Executive Officer of Pulte
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">234,099</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(c)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2005</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">John J. Shea (1995)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">64</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom">
	<FONT size="2">Retired Vice Chairman, President and Chief
	Executive Officer of Spiegel, Inc.
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">17,100</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(d)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2005</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">William B. Smith (2001)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">58</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom">
	<FONT size="2">Advisory Director of Morgan Stanley Dean
	Witter&nbsp;&#38; Co.
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4,900</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(e)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2005</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Michael E. Rossi (2001)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">57</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom">
	<FONT size="2">Retired Vice Chairman of Bank of America
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4,900</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(f)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2004</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Bernard W. Reznicek(g)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">65</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom">
	<FONT size="2">National Director&nbsp;&#151; Special Markets of
	Central States Indemnity Company
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">418</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(g)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2003</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
	<TD colspan="19" align="center" valign="top">
	<B><FONT size="2">Directors Continuing in Office</FONT></B></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Debra J. Kelly-Ennis (1997)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">45</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom">
	<FONT size="2">General Manager, General Motors Corporation
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">24,104</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(h)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2003</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">David N. McCammon (1997)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">67</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom">
	<FONT size="2">Senior Partner, Strength Capital Partners, L.L.C.
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">27,300</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(i)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2004</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Patrick J. O&#146;Meara (1999)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">57</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom">
	<FONT size="2">Chairman of Ann Arbor Acquisition Corporation
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">19,800</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(j)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2003</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">William J. Pulte (1956)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">69</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom">
	<FONT size="2">Chairman of the Board of Directors of Pulte
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">10,633,284</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(k)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">17.55</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2004</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="center"><FONT size="2">3
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="26%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="22%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="7%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="7%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="6%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Percentage of</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Outstanding</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Shares of Our</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Shares of Our</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD align="center" nowrap><B><FONT size="1">Positions and</FONT></B></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Common Stock</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Common Stock</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD align="center" nowrap><B><FONT size="1">Offices with Pulte</FONT></B></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Beneficially Owned</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Beneficially Owned</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD align="center" nowrap><B><FONT size="1">Name and Year</FONT></B></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD align="center" nowrap><B><FONT size="1">and Other</FONT></B></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">as of the</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">as of the</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Term</FONT></B></TD><TD></TD>
</TR>

<TR>
	<TD align="center" nowrap><B><FONT size="1">First Became a Director</FONT></B></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Age</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD align="center" nowrap><B><FONT size="1">Principal Occupations</FONT></B></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Record Date(a)</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Record Date</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">to Expire</FONT></B></TD><TD></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Alan E. Schwartz (1972)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">76</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom">
	<FONT size="2">Partner of the law firm of Honigman Miller
	Schwartz and Cohn LLP, which firm serves as counsel to Pulte
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">48,300</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(l)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2003</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Francis J. Sehn (1995)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">83</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom">
	<FONT size="2">Chairman of The Fran Sehn Company, Inc.
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">27,800</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(m)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2004</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="19" align="center" valign="top">
	<B><FONT size="2">Other Executive Officers</FONT></B></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Roger A. Cregg
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">45</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom">
	<FONT size="2">Senior Vice President and Chief Financial Officer
	of Pulte
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">132,818</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(n)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Michael A. O&#146;Brien
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">49</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom">
	<FONT size="2">Senior Vice President&nbsp;&#151; Corporate
	Development of Pulte
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">195,137</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(o)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">John R. Stoller
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">53</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="bottom">
	<FONT size="2">Senior Vice President, General Counsel and
	Secretary of Pulte
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">173,721</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(p)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="7" align="left" valign="top">
	<FONT size="2">All nominees for director, all continuing
	directors and all<BR>&nbsp;&nbsp;&nbsp;&nbsp;executive officers,
	as a group (18&nbsp;persons)
	</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">11,695,396</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(q)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">19.31</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="left">
<HR size="1" width="18%" align="left" noshade>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="1%"></TD>
	<TD width="3%"></TD>
	<TD width="96%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD><FONT size="2">*&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Less than 1%.
	</FONT></TD>
</TR>

</TABLE>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="97%"></TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(a)</FONT></TD>
	<TD align="left">
	<FONT size="2">All of the directors and executive officers
	listed in this table have sole voting power and sole investment
	power with respect to the shares of Common Stock that they
	beneficially own, except as otherwise noted below.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(b)</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 18,075 shares of Common Stock that
	Mr.&nbsp;Anderson has the right to acquire within 60&nbsp;days
	of the Record Date pursuant to our stock option plans.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
	<TD><FONT size="2">(c)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 149,277&nbsp;shares of Common Stock that
	Mr.&nbsp;O&#146;Brien has the right to acquire within
	60&nbsp;days of the Record Date pursuant to our stock option
	plans, and 3,940&nbsp;shares of Common Stock representing
	Mr.&nbsp;O&#146;Brien&#146;s share of Common Stock held by the
	Pulte Homes, Inc. Stock Fund of the Pulte Homes, Inc. Investment
	Savings Plus Plan (401(k) plan) as of the Record Date.
	Mr.&nbsp;O&#146;Brien has voting power but not investment power
	with respect to 28 of the shares of Common Stock held by the
	Pulte Homes, Inc. Stock Fund. Mr.&nbsp;O&#146;Brien owns units
	of the Pulte Homes, Inc. Stock Fund, which consists of cash and
	Common Stock in amounts that vary from time to time.
	</FONT></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(d)</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 12,000 shares of Common Stock that
	Mr.&nbsp;Shea has the right to acquire within 60&nbsp;days of
	the Record Date pursuant to our stock option plans.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
	<TD><FONT size="2">(e)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 4,000 shares of Common Stock that
	Mr.&nbsp;Smith has the right to acquire within 60&nbsp;days of
	the Record Date pursuant to our stock option plans. In addition
	to the shares listed above, Mr.&nbsp;Smith has acquired phantom
	stock units that are to be settled in cash under the Pulte
	Homes, Inc. Deferred Compensation Agreement for Non-Employee
	Directors. As of the Record Date, Mr.&nbsp;Smith owned 943
	phantom stock units under these agreements.
	</FONT></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(f)</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 4,000 shares of Common Stock that
	Mr.&nbsp;Rossi has the right to acquire within 60&nbsp;days of
	the Record Date pursuant to our stock option plans.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(g)</FONT></TD>
	<TD align="left">
	<FONT size="2">Mr.&nbsp;Reznicek is nominated for election for
	the first time at the annual meeting.
	</FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">4
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="97%"></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
	<TD><FONT size="2">(h)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 20,000 shares of Common Stock that
	Ms.&nbsp;Kelly-Ennis has the right to acquire within
	60&nbsp;days of the Record Date pursuant to our stock option
	plans. In addition to the shares listed above,
	Ms.&nbsp;Kelly-Ennis has acquired phantom stock units that are
	to be settled in cash under Pulte Homes, Inc. Deferred
	Compensation Agreements for Non-Employee Directors. As of the
	Record Date, Ms.&nbsp;Kelly-Ennis owned 2,211 phantom stock
	units under these agreements.
	</FONT></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
	<TD><FONT size="2">(i)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 20,000 shares of Common Stock that
	Mr.&nbsp;McCammon has the right to acquire within 60&nbsp;days
	of the Record Date pursuant to our stock option plans, and
	7,300&nbsp;shares of Common Stock owned in a trust of which
	Mr.&nbsp;McCammon is a trustee and a beneficiary. In addition to
	the shares listed above, Mr.&nbsp;McCammon has acquired phantom
	stock units that are to be settled in cash under Pulte Homes,
	Inc. Deferred Compensation Agreements for Non-Employee
	Directors. As of the Record Date, Mr.&nbsp;McCammon owned
	3,068&nbsp;phantom stock units under these agreements.
	</FONT></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(j)</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 12,000 shares of Common Stock that
	Mr.&nbsp;O&#146;Meara has the right to acquire within
	60&nbsp;days of the Record Date pursuant to our stock option
	plans, and 5,700&nbsp;shares of Common Stock that
	Mr.&nbsp;O&#146;Meara owns jointly with his wife.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
	<TD><FONT size="2">(k)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 249,200 shares of Common Stock that
	Mr.&nbsp;Pulte has the right to acquire within 60&nbsp;days of
	the Record Date pursuant to our stock option plans,
	9,533,979&nbsp;shares of Common Stock that are owned by various
	testamentary trusts of which Mr.&nbsp;Pulte is the sole trustee
	and income beneficiary, and 35,302 shares of Common Stock
	representing Mr.&nbsp;Pulte&#146;s share of Common Stock held by
	the Pulte Homes, Inc. Stock Fund of the Pulte Homes, Inc.
	Investment Savings Plus Plan (401(k)&nbsp;plan) as of the Record
	Date. Mr.&nbsp;Pulte has voting power but not investment power
	with respect to 28 of the shares of Common Stock held by the
	Pulte Homes, Inc. Stock Fund. Mr.&nbsp;Pulte owns units of the
	Pulte Homes, Inc. Stock Fund, which consists of cash and Common
	Stock in amounts that vary from time to time.
	</FONT></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(l)</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 20,000&nbsp;shares of Common Stock that
	Mr.&nbsp;Schwartz has the right to acquire within 60&nbsp;days
	of the Record Date pursuant to our stock option plans.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
	<TD><FONT size="2">(m)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 16,000&nbsp;shares of Common Stock that
	Mr.&nbsp;Sehn has the right to acquire within 60&nbsp;days of
	the Record Date pursuant to our stock option plans. In addition
	to the shares listed above, Mr.&nbsp;Sehn has acquired phantom
	stock units that are to be settled in cash under Pulte Homes,
	Inc. Deferred Compensation Agreements for Non-Employee
	Directors. As of the Record Date, Mr.&nbsp;Sehn owned
	4,695&nbsp;phantom stock units under these agreements.
	</FONT></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
	<TD><FONT size="2">(n)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 99,725&nbsp;shares of Common Stock that
	Mr.&nbsp;Cregg has the right to acquire within 60&nbsp;days of
	the Record Date pursuant to our stock option plans,
	33,075&nbsp;shares of Common Stock that Mr.&nbsp;Cregg owns
	jointly with his wife, and 18&nbsp;shares of Common Stock
	representing Mr.&nbsp;Cregg&#146;s share of Common Stock held by
	the Pulte Homes, Inc. Stock Fund of the Pulte Homes, Inc.
	Investment Savings Plus Plan (401(k)&nbsp;plan) as of the Record
	Date. Mr.&nbsp;Cregg has voting power but not investment power
	with respect to 18 of the shares of Common Stock held by the
	Pulte Homes, Inc. Stock Fund. Mr.&nbsp;Cregg owns units of the
	Pulte Homes, Inc. Stock Fund, which consists of cash and Common
	Stock in amounts that vary from time to time.
	</FONT></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
	<TD><FONT size="2">(o)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 168,183&nbsp;shares of Common Stock that
	Mr.&nbsp;O&#146;Brien has the right to acquire within
	60&nbsp;days of the Record Date pursuant to our stock option
	plans, 200 shares of Common Stock owned in a family trust of
	which Mr.&nbsp;O&#146;Brien is a beneficiary, and
	2,254&nbsp;shares of Common Stock representing
	Mr.&nbsp;O&#146;Brien&#146;s share of Common Stock held by the
	Pulte Homes, Inc. Stock Fund of the Pulte Homes, Inc. Investment
	Savings Plus Plan (401(k)&nbsp;plan) as of the Record Date.
	Mr.&nbsp;O&#146;Brien has voting power but not investment power
	with respect to 28 of the shares of Common Stock held by the
	Pulte Homes, Inc. Stock Fund. Mr.&nbsp;O&#146;Brien owns units
	of the Pulte Homes, Inc. Stock Fund, which consists of cash and
	Common Stock in amounts that vary from time to time.
	</FONT></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
	<TD><FONT size="2">(p)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 157,757&nbsp;shares of Common Stock that
	Mr.&nbsp;Stoller has the right to acquire within 60&nbsp;days of
	the Record Date pursuant to our stock option plans, and 28
	shares representing Mr.&nbsp;Stoller&#146;s share of Common
	Stock held by the Pulte Homes, Inc. Stock Fund of the Pulte
	Homes, Inc. Investment Savings Plus Plan (401(k)&nbsp;plan) as
	of the Record Date. Mr.&nbsp;Stoller has voting power but not
	investment power with respect to 28 of the shares of Common
	Stock held by the Pulte Homes, Inc. Stock Fund. Mr.&nbsp;Stoller
	</FONT></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

</TABLE>

<P align="center"><FONT size="2">5
</FONT>

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="97%"></TD>
</TR>

<TR valign="top">
	<TD></TD>
	<TD align="left">
	<FONT size="2">owns units of the Pulte Homes, Inc. Stock Fund,
	which consists of cash and Common Stock in amounts that vary
	from time to time.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
	<TD><FONT size="2">(q)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes 1,056,847&nbsp;shares of Common Stock
	that the directors and executive officers have the right to
	acquire within 60&nbsp;days of the Record Date pursuant to our
	stock option plans, 41,325&nbsp;shares owned jointly with
	spouses, the shares owned by various trusts referenced in (i),
	(k) and (o) above, and 42,282&nbsp;shares of Common Stock
	representing the executive officers&#146; share of Common Stock
	held by the Pulte Homes, Inc. Stock Fund of the Pulte Homes,
	Inc. Investment Savings Plus Plan (401(k)&nbsp;plan) as of the
	Record Date. The executive officers have voting power but not
	investment power with respect to 214 of the shares of Common
	Stock held by the Pulte Homes, Inc. Stock Fund. They own units
	of the Pulte Homes, Inc. Stock Fund, which consists of cash and
	Common Stock in amounts that vary from time to time. In addition
	to the shares listed above, directors owned 10,918&nbsp;phantom
	stock units as of the Record Date as referenced in (e), (h), (i)
	and (m) above.
	</FONT></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

</TABLE>

<P align="left">
<B><FONT size="2">Section&nbsp;16(a) Beneficial Ownership
Reporting Compliance</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Gregory&nbsp;M. Nelson, a Vice President of
Pulte, inadvertently filed a late report on February&nbsp;4,
2001 with respect to the grant of options to purchase
5,000&nbsp;shares of Common Stock, pursuant to our
2000&nbsp;Stock Incentive Plan for Key Employees. The late
filing was due to an error in the notice we provided to
Mr.&nbsp;Nelson regarding the number of options which we granted
to him in December 2000.
</FONT>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">A report related to the grant of options (an
&#147;exempt&#148; transaction) to our executive officers,
Mark&nbsp;J. O&#146;Brien, Roger&nbsp;A. Cregg, Michael&nbsp;A.
O&#146;Brien, John&nbsp;R. Stoller, Vincent&nbsp;J. Frees,
Gregory&nbsp;M. Nelson and Bruce&nbsp;E. Robinson, was
inadvertently filed late on March&nbsp;13, 2002.
</FONT>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="left">
<B><FONT size="2">Other Information Relating To
Directors</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following is a brief account of the business
experience during the past five&nbsp;years of each member or
nominee of our Board of Directors:
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Mr.&nbsp;Anderson has been Chairman of Beacon
Management Corp., an investment capital firm, since April 2001.
Prior to that, he was Executive Banking Officer and Special
Consultant to the Chairman of Compass Bank since 1996.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Ms.&nbsp;Kelly-Ennis has been a General Manager
of General Motors Corporation since May 2000. Previously, she
was Brand Manager, Truck Division, of General Motors Corporation
since March 1999. Prior to that, she was Vice President and
General Manager of the Household Products Division of Sunbeam
Corporation since 1998. Prior to that, she was Senior Vice
President, Marketing, of Gerber Products Company, a division of
Novartis Corporation, since 1995.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Mr.&nbsp;McCammon has been Senior Partner of
Strength Capital Partners, L.L.C., an investment capital fund,
since June 2000. Previously, he was Vice President of Finance of
Ford Motor Company until his retirement in 1997.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Mr.&nbsp;O&#146;Brien has been our Chief
Executive Officer since December 2001 and our President since
January 1999. Before that, Mr.&nbsp;O&#146;Brien was our
Executive Vice President and Chief Operating Officer since 1997
and served in various capacities with our homebuilding
subsidiaries since 1980.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Mr.&nbsp;O&#146;Meara is the Chairman of Ann
Arbor Acquisition Corporation, which owns and operates the Ann
Arbor Railroad.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Mr.&nbsp;Pulte was appointed Chairman of our
Board of Directors in December 2001. Prior to that, he served as
Chairman of the Executive Committee of our Board of Directors
(since January 1999) and Chairman of our Board of Directors from
January 1991 until January 1999. Mr.&nbsp;Pulte served as
Co-Chairman of the Executive Committee of our Board of Directors
from April 1990 through March 1995.
</FONT>

<P align="center"><FONT size="2">6
</FONT>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Mr.&nbsp;Reznicek has been National
Director&nbsp;&#151; Special Markets, Central States Indemnity
Company, a specialty insurance company that is a member of the
Berkshire Hathaway Insurance Group, since January 1997.
Mr.&nbsp;Reznicek is a director of CSG Systems International,
Inc. and State Street Corporation.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Mr.&nbsp;Rossi was Vice Chairman of Bank America
until his retirement in 1997.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Mr.&nbsp;Schwartz is a partner of the law firm of
Honigman Miller Schwartz and Cohn LLP, Detroit, Michigan, which
serves as counsel to Pulte and its subsidiaries. We expect to
continue to retain Honigman Miller Schwartz and Cohn LLP in the
current fiscal year.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Mr.&nbsp;Sehn is the Chairman of The Fran Sehn
Company, Inc., an international engineering consulting service
company.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Mr.&nbsp;Shea was Vice Chairman of the Board of
Directors, President and Chief Executive Officer of Spiegel,
Inc., an international multichannel specialty retailer, until
his retirement in 1998. Mr.&nbsp;Shea is a director of Fotoball
USA, Inc.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Mr.&nbsp;Smith has been an Advisory Director of
Morgan Stanley&nbsp;&#38; Co. Incorporated since July 2000.
Previously, he was Managing Director and Head of Morgan Stanley
Realty since May 1997. Prior to that, he was Executive Vice
President and Head of Investment Banking of Dean Witter Reynolds
Inc.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">During 2001, our Board of Directors held nine
meetings and acted by written consent on eight other occasions.
</FONT>

<P align="left">
<B><FONT size="2">Committees of the Board of Directors</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Our Board of Directors has standing audit,
compensation and nominating committees.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The current members of our Audit Committee are
Debra&nbsp;J. Kelly-Ennis, Patrick&nbsp;J. O&#146;Meara,
Michael&nbsp;E. Rossi and David&nbsp;N. McCammon (Chairman). The
functions of the Audit Committee and its activities during 2001
are described below under the heading <I>&#147;Report of the
Audit Committee&#148;. </I>The Audit Committee is governed by a
written charter that was adopted by our Board of Directors.
During 2001, the Board of Directors examined the composition of
the Audit Committee and confirmed that all members of the Audit
Committee are &#147;independent&#148; within the meaning of the
New York Stock Exchange&#146;s rules governing audit committees.
In 2001, the Audit Committee met six times and had informal
discussions in lieu of additional meetings.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The current members of our Compensation Committee
are D.&nbsp;Kent Anderson, Francis&nbsp;J. Sehn, William&nbsp;B.
Smith and John&nbsp;J. Shea (Chairman). The duties of the
Compensation Committee include (a)&nbsp;establishing
compensation arrangements for key executives and directors, as
authorized by our Board of Directors; (b)&nbsp;recommending to
the Board of Directors compensation plans in which officers or
directors are eligible to participate; and
(c)&nbsp;administering our long-term compensation and stock
option plans, including granting of options under the plans.
During 2001, the Compensation Committee met six times and had
informal discussions in lieu of additional meetings.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The current members of our Nominating Committee
are David&nbsp;N. McCammon, Francis&nbsp;J. Sehn and
Debra&nbsp;J. Kelly-Ennis (Chairman). The Nominating Committee
is responsible for (a)&nbsp;soliciting recommendations for
candidates for our Board of Directors; (b)&nbsp;developing and
reviewing background information for candidates; (c)&nbsp;making
recommendations to the Board of Directors regarding such
candidates; and (d)&nbsp;reviewing and making recommendations to
the Board with respect to candidates for directors proposed by
shareholders. The Nominating Committee will consider nominees
for directors recommended by shareholders if such nominations
are made in accordance with our Bylaws. Shareholders desiring to
recommend nominees for directors for the Annual Meeting to be
held in 2003 should submit such recommendations to the Chairman
of the Board at 33&nbsp;Bloomfield Hills Parkway,
Suite&nbsp;200, Bloomfield Hills, Michigan&nbsp;48304, no later
than March&nbsp;14, 2003. During 2001, the Nominating Committee
met four times and had informal discussions in lieu of
additional meetings.
</FONT>

<P align="center"><FONT size="2">7
</FONT>

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<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left">
<B><FONT size="2">Compensation of Executive Officers and
Directors</FONT></B>

<P align="left">
<B><FONT size="2">&nbsp;&nbsp;</FONT></B><I><FONT size="2">Summary
Compensation Table</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table provides information for each
of the fiscal years ended December&nbsp;31, 2001, 2000 and 1999
concerning the compensation of our Chief Executive Officer and
of each of the other four of our most highly compensated
executive officers whose total annual salary and bonus exceeded
$100,000:
</FONT>

<P align="center">
<B><FONT size="2">SUMMARY COMPENSATION TABLE</FONT></B>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="28%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="2"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="11"></TD>
	<TD></TD>
	<TD colspan="7"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD colspan="2"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="10" align="center" nowrap><B><FONT size="1">Annual Compensation</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="6" align="center" nowrap><B><FONT size="1">Long Term Compensation</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD colspan="2"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="10" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="6" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD colspan="2"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="11"></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Awards</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Payouts</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD colspan="2"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="7"></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Other</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
</TR>

<TR>
	<TD colspan="2"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="7"></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Annual</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Shares</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">LTIP</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">All Other</FONT></B></TD><TD></TD>
</TR>

<TR>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Name and</FONT></B></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="7"></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Compen-</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Underlying</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Payouts</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Compen-</FONT></B></TD><TD></TD>
</TR>

<TR>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Principal Position</FONT></B></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Year</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Salary($)</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Bonus($)</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">sation($)</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Options(#)</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">($)</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">sation($)</FONT></B></TD><TD></TD>
</TR>

<TR>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
</TR>

<TR>
	<TD colspan="2" align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">William J. Pulte(a)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2001</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">800,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,200,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1,500</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(d)</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Chairman of the Executive
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">700,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2,300,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1,500</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(d)</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Committee of the Board
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">625,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1,600,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1,500</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(d)</FONT></TD>
</TR>

<TR bgcolor="#EEEEEE">
	<TD colspan="2" align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Robert K. Burgess(a)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2001</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">800,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,200,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">230,000</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(b)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">60,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">76,959</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(e)</FONT></TD>
</TR>

<TR bgcolor="#EEEEEE">
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Chairman of the Board and
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">700,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2,300,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">384,092</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4,256,854</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(c)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">38,298</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(f)</FONT></TD>
</TR>

<TR bgcolor="#EEEEEE">
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Chief Executive Officer
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">625,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1,600,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">250,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">14,915</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(f)</FONT></TD>
</TR>

<TR>
	<TD colspan="2" align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Mark J. O&#146;Brien(a)
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2001</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">525,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1,807,901</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">159,840</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">48,870</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(g)</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">President and Chief
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">450,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1,256,401</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">136,858</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,434,796</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(c)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">30,922</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(g)</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Executive Officer
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">425,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">972,611</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">90,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1,500</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(d)</FONT></TD>
</TR>

<TR bgcolor="#EEEEEE">
	<TD colspan="2" align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Roger A. Cregg
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2001</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">390,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">894,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">172,161</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">5,099</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(h)</FONT></TD>
</TR>

<TR bgcolor="#EEEEEE">
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Senior Vice President and
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">345,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">684,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">87,387</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">75,000</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(c)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,268</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(h)</FONT></TD>
</TR>

<TR bgcolor="#EEEEEE">
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Chief Financial Officer
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">325,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">507,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">60,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">57,200</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(i)</FONT></TD>
</TR>

<TR>
	<TD colspan="2" align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Michael A. O&#146;Brien
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2001</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">340,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">760,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">139,685</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">6,868</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(j)</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Senior Vice President&nbsp;&#151;
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">280,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">600,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">83,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">860,976</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(c)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4,766</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(j)</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Corporate Development
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">265,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">321,604</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">43,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1,500</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(d)</FONT></TD>
</TR>

<TR bgcolor="#EEEEEE">
	<TD colspan="2" align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">John R. Stoller
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2001</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">230,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">280,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">62,396</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4,911</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(k)</FONT></TD>
</TR>

<TR bgcolor="#EEEEEE">
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Senior Vice President,
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">220,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">256,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">44,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">780,629</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(c)</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,593</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(k)</FONT></TD>
</TR>

<TR bgcolor="#EEEEEE">
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">General Counsel and Secretary
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1999</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">210,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">192,790</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">30,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">-0-</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1,500</FONT></TD>
	<TD align="left" valign="bottom" nowrap><FONT size="2">(d)</FONT></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="left">
<HR size="1" width="18%" align="left" noshade>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="97%"></TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(a)</FONT></TD>
	<TD align="left">
	<FONT size="2">Mr.&nbsp;Burgess retired on December&nbsp;30,
	2001 and resigned from all of his positions with us. On
	December&nbsp;31, 2001, Mr.&nbsp;Pulte became Chairman of our
	Board, and Mr.&nbsp;O&#146;Brien became our Chief Executive
	Officer. Mr. O&#146;Brien will continue to serve as our
	President.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">(b)</FONT></TD>
	<TD align="left">
	<FONT size="2">The amount shown represents interest accrued at a
	rate of ten percent per annum on the $2,300,000 bonus which
	Mr.&nbsp;Burgess earned in 2000 but deferred until 2001.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
	<TD><FONT size="2">(c)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">The amount shown represents the amount awarded to
	the recipient pursuant to our Long-Term Compensation Plan for
	achieving specific economic profit, pre-tax income and other
	performance targets for the four year period from 1996 through
	1999.
	</FONT></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
	<TD><FONT size="2">(d)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">The amount shown represents matching
	contributions we made for the executive officer under our 401(k)
	Plan.
	</FONT></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
	<TD><FONT size="2">(e)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">The amount shown includes (i)&nbsp;$1,500 in
	matching contributions that we made for Mr.&nbsp;Burgess under
	our 401(k) Plan, (ii)&nbsp;$49,346 representing the dollar value
	attributable to the term insurance and non-insurance cash value
	benefits associated with the split-dollar life insurance policy
	maintained for Mr.&nbsp;Burgess, and (iii)&nbsp;$26,113
	representing the actual cost of gifts that we gave
	Mr.&nbsp;Burgess upon his retirement.
	</FONT></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
	<TD><FONT size="2">(f)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">The amount shown includes $1,500 in matching
	contributions that we made for Mr.&nbsp;Burgess for each year
	under our 401(k) Plan and the balance ($36,798 in 2000 and
	$13,415 in 1999) represents the dollar value
	</FONT></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

</TABLE>

<P align="center"><FONT size="2">8
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="97%"></TD>
</TR>

<TR valign="top">
	<TD></TD>
	<TD align="left">
	<FONT size="2">attributable to the term insurance and
	non-insurance cash value benefits associated with the
	split-dollar life insurance policy maintained for
	Mr.&nbsp;Burgess.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
	<TD><FONT size="2">(g)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">The amount shown includes $1,500 in matching
	contributions that we made for Mr.&nbsp;O&#146;Brien for such
	year under our 401(k) Plan and the balance ($47,370 in 2001 and
	$29,422 in 2000) represents the dollar value attributable to the
	term insurance and non-insurance cash value benefits associated
	with the split-dollar life insurance policy maintained for
	Mr.&nbsp;O&#146;Brien.
	</FONT></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
	<TD><FONT size="2">(h)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">The amount shown includes matching contributions
	($1,200 in 2001 and $900 in 2000) that we made for
	Mr.&nbsp;Cregg for such year under our 401(k) Plan and the
	balance ($3,899 in 2001 and $2,368 in 2000) represents the
	dollar value attributable to the term insurance and
	non-insurance cash value benefits associated with the
	split-dollar life insurance policy maintained for Mr.&nbsp;Cregg.
	</FONT></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
	<TD><FONT size="2">(i)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">The amount shown includes $600 in matching
	contributions that we made for Mr.&nbsp;Cregg for such year
	under our 401(k) Plan and $56,600 we paid to him in 1999 as a
	reimbursement in connection with his relocation in 1998.
	</FONT></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
	<TD><FONT size="2">(j)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">The amount shown includes $1,500 in matching
	contributions that we made for Mr.&nbsp;O&#146;Brien for such
	year under our 401(k) Plan and the balance ($5,368 in 2001 and
	$3,266 in 2000) represents the dollar value attributable to the
	term insurance and non-insurance cash value benefits associated
	with the split-dollar life insurance policy maintained for
	Mr.&nbsp;O&#146;Brien.
	</FONT></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

<TR valign="top">
	<TD><FONT size="2">(k)&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">The amount shown includes $1,500 in matching
	contributions that we made for Mr.&nbsp;Stoller for such year
	under our 401(k) Plan and the balance ($3,411 in 2001 and $2,093
	in 2000) represents the dollar value attributable to the term
	insurance and non-insurance cash value benefits associated with
	the split-dollar life insurance policy maintained for
	Mr.&nbsp;Stoller.
	</FONT></TD>
</TR>

<TR><TD><FONT size="1">

</FONT></TD></TR>

</TABLE>

<P align="center"><FONT size="2">9
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left">
<I><FONT size="2">Option Grants in Last Fiscal Year
Table</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table sets forth information
concerning individual grants of stock options that we made
during the fiscal year ended December&nbsp;31, 2001 to each of
the executive officers named in the Summary Compensation Table
above:
</FONT>

<P align="center">
<B><FONT size="2">OPTION GRANTS IN LAST FISCAL YEAR</FONT></B>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="28%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="8%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="7%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="7"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="15"></TD>
	<TD></TD>
	<TD colspan="6" align="center" nowrap><B><FONT size="1">Potential Realizable</FONT></B></TD><TD></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="14" align="center" nowrap><B><FONT size="1">Individual Grants</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="6" align="center" nowrap><B><FONT size="1">Value at Assumed</FONT></B></TD><TD></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="14" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="6" align="center" nowrap><B><FONT size="1">Annual Rates of Stock</FONT></B></TD><TD></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Shares</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="11"></TD>
	<TD></TD>
	<TD colspan="6" align="center" nowrap><B><FONT size="1">Price Appreciation</FONT></B></TD><TD></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Underlying</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">% of Total Options</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Exercise</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="6" align="center" nowrap><B><FONT size="1">for Option Term</FONT></B></TD><TD></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Options</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Granted to Employees</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Price</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Expiration</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="6" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
</TR>

<TR>
	<TD align="center" nowrap><B><FONT size="1">Name</FONT></B></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Granted(#)</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">in Fiscal Year</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">($/Sh)</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Date</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">5%($)</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">10%($)</FONT></B></TD><TD></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">William J. Pulte
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#150;0&#150;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#150;0&#150;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR bgcolor="#EEEEEE">
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Robert K. Burgess
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">60,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">3.93</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">34.27</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">02/28/11</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1,293,300</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">3,277,500</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Mark J. O&#146;Brien
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">78,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">5.12</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">37.11</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">09/06/11</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1,820,520</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">4,612,950</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">100,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">6.56</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">43.65</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">12/13/11</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">2,745,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">6,957,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">30,580</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">2.00</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">36.63</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">12/13/05</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">295,709</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">649,825</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">17,580</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1.15</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">36.63</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">01/04/09</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">302,903</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">723,241</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">23,680</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1.55</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">34.28</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">02/28/11</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">510,541</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1,293,638</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR bgcolor="#EEEEEE">
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Roger A. Cregg
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">60,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">3.93</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">37.11</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">09/06/11</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1,400,400</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">3,548,400</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR bgcolor="#EEEEEE">
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">60,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">3.93</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">43.65</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">12/13/11</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1,647,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">4,174,200</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR bgcolor="#EEEEEE">
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">34,875</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">2.29</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">35.00</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">01/20/08</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">496,969</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1,158,199</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR bgcolor="#EEEEEE">
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">17,894</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1.17</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">34.28</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">02/28/11</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">385,795</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">977,549</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Michael A. O&#146;Brien
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">50,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">3.28</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">37.11</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">09/06/11</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1,167,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">2,957,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">50,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">3.28</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">43.65</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">12/13/11</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1,372,500</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">3,478,500</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">21,685</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1.42</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">37.25</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">12/13/05</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">218,151</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">480,756</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">18,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1.18</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">34.28</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">02/28/11</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">388,080</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">983,340</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR bgcolor="#EEEEEE">
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">John R. Stoller
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">20,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1.31</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">37.11</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">09/06/11</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">466,800</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1,182,800</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR bgcolor="#EEEEEE">
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">20,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1.31</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">43.65</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">12/13/11</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">549,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">1,391,400</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR bgcolor="#EEEEEE">
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">10,564</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">.69</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">35.53</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">01/23/04</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">59,158</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">124,233</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR bgcolor="#EEEEEE">
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2,960</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">.19</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">35.53</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">01/17/05</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">22,052</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">47,360</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR bgcolor="#EEEEEE">
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">8,872</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">.58</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">34.28</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">02/28/11</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">191,280</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="top" nowrap><FONT size="2">484,677</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="left">
<HR size="1" width="18%" align="left" noshade>
</DIV>

<P align="center"><FONT size="2">10
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P align="left">
<I><FONT size="2">Aggregated Option Exercises and Fiscal
Year-End Option Value Table</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table provides information
regarding each exercise of stock options during the fiscal year
ended December&nbsp;31, 2001 by each of the executive officers
named in the Summary Compensation Table above and the value of
unexercised options held by the same executive officers as of
December&nbsp;31, 2001:
</FONT>

<P align="center">
<B><FONT size="2">AGGREGATED OPTION EXERCISES IN LAST FISCAL
YEAR</FONT></B>

<DIV align="center">
<B><FONT size="2">AND FISCAL YEAR-END OPTION VALUES</FONT></B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="26%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="5%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="7"></TD>
	<TD></TD>
	<TD colspan="7"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="6" align="center" nowrap><B><FONT size="1">Shares Underlying</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="6" align="center" nowrap><B><FONT size="1">Value of Unexercised</FONT></B></TD><TD></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Shares</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="6" align="center" nowrap><B><FONT size="1">Unexercised</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="6" align="center" nowrap><B><FONT size="1">In-the-Money</FONT></B></TD><TD></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Acquired</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="6" align="center" nowrap><B><FONT size="1">Options at FY-End(#)</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="6" align="center" nowrap><B><FONT size="1">Options at FY-End($)</FONT></B></TD><TD></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">on</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Value</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="6" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="6" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
</TR>

<TR>
	<TD align="center" nowrap><B><FONT size="1">Name</FONT></B></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Exercise(#)</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Realized($)</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Exercisable</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Unexercisable</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Exercisable</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Unexercisable</FONT></B></TD><TD></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">William J. Pulte
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">249,200</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">6,645,464</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Robert K. Burgess
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">75,906</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1,723,201</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">925,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">413,186</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">24,357,188</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">6,034,836</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Mark J. O&#146;Brien
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">60,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">783,335</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">266,494</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">374,204</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">6,419,219</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">3,636,877</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Roger A. Cregg
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">43,875</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">567,786</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">100,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">276,281</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1,817,646</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">2,846,157</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Michael A. O&#146;Brien
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">30,685</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">619,449</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">190,167</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">204,833</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4,594,557</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1,726,581</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">John R. Stoller
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">17,960</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">287,628</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">194,731</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">93,705</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">4,975,076</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">959,382</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left">
<HR size="1" width="18%" align="left" noshade>
</DIV>

<P align="left">
<I><FONT size="2">Long-Term Incentive Plan Awards
Table</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following table provides information
regarding awards that we made under our Long-Term Incentive Plan
to each of the executive officers named in the Summary
Compensation Table above:
</FONT>

<P align="center">
<B><FONT size="2">LONG-TERM INCENTIVE PLANS&nbsp;&#151; AWARDS
IN LAST FISCAL YEAR</FONT></B>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="34%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="9%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="8%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="4%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="11"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="3"></TD>
	<TD></TD>
	<TD colspan="10" align="center" nowrap><B><FONT size="1">Estimated Future Payouts</FONT></B></TD><TD></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Number of</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Performance or</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="10" align="center" nowrap><B><FONT size="1">Under Non-Stock Price-Based Plans</FONT></B></TD><TD></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Shares, Units</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Other Period Until</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="10" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Or Other</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Maturation</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Threshold</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Target</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Maximum</FONT></B></TD><TD></TD>
</TR>

<TR>
	<TD align="center" nowrap><B><FONT size="1">Name</FONT></B></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Rights</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">Or Payout</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">($)</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">($)</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">($)</FONT></B></TD><TD></TD>
</TR>

<TR>
	<TD align="center" nowrap><HR size="1" noshade></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><HR size="1" noshade></TD><TD></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">William J. Pulte
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Robert K. Burgess
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">&#151;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Mark J. O&#146;Brien
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="center" valign="bottom" nowrap><FONT size="2">1/1/01/01 - 12/31/03</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">393,750</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">787,500</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">1,575,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Roger A. Cregg
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="center" valign="bottom" nowrap><FONT size="2">1/1/01/01 - 12/31/03</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">195,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">390,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">780,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Michael A. O&#146;Brien
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="center" valign="bottom" nowrap><FONT size="2">1/1/01/01 - 12/31/03</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">170,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">340,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">680,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">John R. Stoller
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">*</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="center" valign="bottom" nowrap><FONT size="2">1/1/01/01 - 12/31/03</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">69,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">138,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">276,000</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left">
<HR size="1" width="18%" align="left" noshade>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="2%"></TD>
	<TD width="98%"></TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">*&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Under our Long-Term Incentive Plan, which was
	approved by our shareholders, performance compensation is
	awarded to each participant based upon pre-established objective
	performance goals using one or more of the following criteria:
	(a)&nbsp;cumulative earnings per share, (b)&nbsp;average return
	on equity, and (c)&nbsp;pre-tax income. These performance
	thresholds, measuring performance for three consecutive year
	periods beginning as of each January 1st during the term of the
	plan, must be met or exceeded in order for the participants to
	earn an award. Determination of the performance compensation
	awarded to each participant in the plan is to be made as of the
	end of each three year period. However, under the terms of the
	plan, certain events (including certain change in control
	events) may trigger an earlier determination or payment date.
	The estimated future payouts for Mr.&nbsp;Burgess have been
	adjusted to reflect our arrangement with him regarding his
	retirement. <I>See &#147;Arrangements with Robert K.
	Burgess&#148;</I> below.
	</FONT></TD>
</TR>

</TABLE>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="left">
<I><FONT size="2">Compensation of Directors</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Under standard arrangements, we pay each of our
non-employee directors an annual fee in the amount of $20,000,
plus $1,500 for attendance at meetings of our Board of Directors
or of committees of the Board of Directors. We also pay the
chairman of each committee of our Board of Directors an annual
payment of $1,000 for each committee for which he or she acts as
chairman, plus $1,000 for each committee meeting over which he
or she presides (in addition to the $1,500 meeting fee). We
reimburse our directors for the out-of-
</FONT>

<P align="center"><FONT size="2">11
</FONT>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV align="left">
<FONT size="2">pocket expenses they incur in attending meetings.
Directors may elect to defer the receipt of all or any part of
their annual retainer and meeting and chairman fees for payment
in the future, as well as earnings based upon various investment
alternatives (including earnings based upon the performance of
our stock).
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Non-employee directors are also entitled to
receive annual grants of (a)&nbsp;options to purchase 4,000
shares of Common Stock, and (b)&nbsp;900 shares of Common Stock
under the Pulte Homes, Inc. 2000 Stock Plan for Non-Employee
Directors. Our employee directors do not receive any additional
compensation for services as a director.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Arrangements with Robert K. Burgess</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Robert&nbsp;K. Burgess, who was Chairman of our
Board of Directors and our Chief Executive Officer, retired from
all of his positions with us as of December&nbsp;30, 2001.
Pursuant to an arrangement we entered into with
Mr.&nbsp;Burgess, during 2002 we will make twelve monthly
payments of $66,667 to Mr.&nbsp;Burgess. We made a one-time
payment of $500,000 to Mr.&nbsp;Burgess on January&nbsp;1, 2002.
We will make a lump sum payment of $533,333 to Mr.&nbsp;Burgess
under our Long-Term Incentive Plan which commenced on
January&nbsp;1, 2001. Mr.&nbsp;Burgess will also be eligible to
receive, to the extent awards are payable to our executives,
two-thirds of the award which would have been payable to him
under the Long-Term Incentive Plan which commenced on
January&nbsp;1, 2000. Mr.&nbsp;Burgess will also continue to
participate in our medical and dental insurance benefits program
until he reaches age&nbsp;65.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Mark J. O&#146;Brien, who was our President and
Chief Operating Officer, became our Chief Executive Officer on
December&nbsp;31, 2001. He continues to serve as our President.
William&nbsp;J. Pulte became Chairman of our Board of Directors
on December&nbsp;31, 2001.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Report of the Compensation Committee on
Executive Compensation</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">General. </FONT></I><FONT size="2">The
Compensation Committee&#146;s overall compensation philosophy
applicable to Pulte&#146;s executive officers is to provide a
compensation program that is intended to attract and retain
qualified executives for Pulte and to provide them with
incentive to achieve Pulte&#146;s goals and increase shareholder
value. The Compensation Committee implements this philosophy by
establishing salaries, bonuses, long-term compensation plans and
stock option programs. The Compensation Committee&#146;s current
policy is not to provide pension or other retirement plans for
Pulte&#146;s employees other than its 401(k) plan.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Salaries. </FONT></I><FONT size="2">The
Compensation Committee&#146;s policy is to provide salaries that
in most cases are less than those of similar executive officers
in similar companies. The Compensation Committee determines
comparable salaries through Pulte&#146;s research and the
research of consultants concerning the salaries paid by
Pulte&#146;s competitors.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Bonuses. </FONT></I><FONT size="2">The
Compensation Committee&#146;s policy is to provide a significant
portion of executive officer compensation through annual bonuses
as incentives to achieve Pulte&#146;s financial and operational
goals and to increase shareholder value. Bonus arrangements for
our executive officers are intended to make a substantial
portion of each executive officer&#146;s compensation dependent
on Pulte&#146;s overall performance, thus linking executive
compensation to shareholder value and encouraging the executives
to act as a team. A substantial portion of the executive
officer&#146;s bonus is conditioned upon Pulte&#146;s
achievement of an economic profit target. A portion of the bonus
is also intended to recognize the executive&#146;s individual
contributions to Pulte.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In establishing executive officers&#146; bonuses
for 2001, the Compensation Committee and the Board of Directors
took into account the strategic and operational accomplishments
of the individual and Pulte, Pulte&#146;s performance against
Board-approved financial plans and economic profit targets, and
certain industry comparisons. Bonuses were awarded in part on
achieving certain financial targets and in part on a
discretionary basis by the Compensation Committee or the Board
of Directors upon recommendations from Pulte&#146;s Chairman of
the Board and Chief Executive Officer based on the
individual&#146;s performance during the year.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Long-Term Compensation.
</FONT></I><FONT size="2">In order to provide management with
incentive to achieve the long-term growth and profitability
goals of Pulte, in 2000 the Compensation Committee and the Board
approved a Long-Term Incentive Plan for the key employees of
Pulte and its subsidiaries. The Long-Term Incentive Plan was
</FONT>

<P align="center"><FONT size="2">12
</FONT>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV align="left">
<FONT size="2">approved by our shareholders at our 2000 annual
meeting of shareholders. Under the Incentive Plan, performance
compensation is awarded to each participant based upon
pre-established objective performance goals which use one or
more of the following financial criteria (a)&nbsp;cumulative
earnings per share, (b)&nbsp;average return on equity, and
(c)&nbsp;pre-tax income. These performance thresholds, measuring
performance for three consecutive year periods beginning as of
each January&nbsp;1st during the term of the Incentive Plan
(each a &#147;Performance Period&#148;) must be met or exceeded
in order for the participant to earn an award. The Long-Term
Incentive Plan limits the total compensation awarded to any one
participant under the Incentive Plan to $5&nbsp;million per
Performance Period. Awards under the Long-Term Incentive Plan
may be deferred by key employees.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Stock Options. </FONT></I><FONT size="2">The
Compensation Committee&#146;s policy is to award stock options
to Pulte&#146;s officers in amounts reflecting the
participant&#146;s position and ability to influence
Pulte&#146;s overall performance. Options are intended to
provide participants with an increased incentive to make
contributions to the long-term performance and growth of Pulte,
to join the interests of participants with the interests of
shareholders of Pulte and to attract and retain qualified
employees. The Compensation Committee&#146;s policy has
generally been to grant options with a term of 10&nbsp;years (in
certain cases, with portions exercisable over shorter periods)
to provide a long-term incentive, and to fix the exercise price
of the options at or in excess of the fair market value of the
underlying shares on the date of grant. Such options only have
value if the price of the underlying shares increases above the
exercise price.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Board of Directors has approved and has
proposed that our shareholders adopt a new stock incentive plan
for key employees. <I>See&nbsp;</I>&#147;III<I>. Proposal to
Adopt the 2002 Stock Incentive Plan</I>&#148; below.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">2001 Compensation Decisions Regarding Robert
K. Burgess.</FONT></I><FONT size="2"> The Compensation Committee
approved a $3,200,000 bonus for Mr.&nbsp;Burgess for calendar
2001. The bonus was based on our exceptional financial and
operational performance. We substantially increased our gross
revenues, net income, return on equity, closings and net new
orders from 2000 levels. We successfully accomplished a
strategic merger with Del Webb Corporation and strengthened our
ability to meet the needs of the growing active adult market
segment. We also made considerable progress in the
implementation of various process improvement methodologies and
certain key business initiatives. Mr.&nbsp;Burgess did not
participate in the approval of his own compensation, but did
participate in the discussion of our performance for 2001.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I><FONT size="2">Compliance with Internal Revenue Code
Section&nbsp;162(m).
</FONT></I><FONT size="2">Section&nbsp;162(m) of the Internal
Revenue Code of 1986, as amended (&#147;Code&#148;) generally
disallows a tax deduction to public companies for compensation
over $1&nbsp;million paid to the corporation&#146;s chief
executive officer and four other most highly compensated
executive officers, and provides that qualifying
performance-based compensation will not be subject to the
deduction limit if certain requirements are met.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Pulte believes that stock options currently
outstanding or subsequently granted under Pulte&#146;s existing
stock option plans, as well as under our proposed 2002 Stock
Incentive Plan, either comply with Section 162(m) or are not
subject to the requirements of the statute. Pulte currently
intends to structure future stock option grants in a manner that
complies with Section&nbsp;162(m). Pulte believes that payments
made under the Long-Term Incentive Plan will comply with the
exception for performance-based compensation under
Section&nbsp;162(m). The discretionary annual bonuses paid to
executive officers with respect to 2001, as described under
<I>&#147;Bonuses&#148; </I>above, were not structured to comply
with Section&nbsp;162(m). Such bonuses do not meet
Section&nbsp;162(m)&#146;s requirement that they be
&#147;payable solely on account of the attainment of one or more
performance goals.&#148; Although Pulte believes the annual
discretionary bonuses, as currently structured, best serve the
interests of Pulte and its shareholders by allowing Pulte to
recognize an executive officer&#146;s
</FONT>

<P align="center"><FONT size="2">13
</FONT>

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<DIV align="left">
<FONT size="2">contribution as appropriate, the Compensation
Committee may in the future structure all or a portion of the
bonus compensation for certain executive officers to comply with
Section&nbsp;162(m).
</FONT>
</DIV>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="38%"></TD>
	<TD width="62%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">Members of the Compensation Committee
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">John J. Shea, <I>Chairman</I>
	</FONT></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">D. Kent Anderson
	</FONT></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">Francis J. Sehn
	</FONT></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">William B. Smith
	</FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">14
</FONT>

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<DIV align="left">

</DIV>

<P align="left">
<B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><I><FONT size="2">Compensation
Committee Interlocks and Insider Participation</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">None of the Compensation Committee members are or
ever were an officer or employee of Pulte or any of its
subsidiaries.
</FONT>

<P align="left">
<B><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></B><I><FONT size="2">Stock
Option Agreement and Long-Term Incentive Plan Change in Control
Provisions</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Under the terms of our stock option agreements
and long-term incentive plans, awards are subject to special
provisions upon the occurrence of a defined &#147;change in
control&#148; transaction. Under the stock option agreements,
all options become fully vested and exercisable upon the
occurrence of a change in control; and, in addition, some stock
option agreements state that, in order to maintain a
participant&#146;s rights in the event of a change in control,
the Compensation Committee has the right to (a)&nbsp;accelerate
the vesting of the options to an earlier date, (b)&nbsp;provide
for the repurchase of options upon a participant&#146;s request
for a cash amount equal to the fair market value of the option
shares, minus the option exercise price, (c)&nbsp;make
appropriate adjustment to the options to reflect the change in
control, or (d)&nbsp;cause the options to be assumed, or new
rights substituted therefor, by the acquiring or surviving
company. Under the long-term incentive plans, if a change in
control occurs, plan awards automatically become fully vested
and payable to the plan participant.
</FONT>

<P align="left">
<I><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Report of the
Audit Committee</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Audit Committee oversees Pulte&#146;s
financial reporting process on behalf of the Board of Directors.
Management has the primary responsibility for the financial
statements and the reporting process, including the systems of
internal controls. In fulfilling its oversight responsibilities,
the Audit Committee reviewed the audited financial statements in
the Annual Report with management, including a discussion of the
quality, not just the acceptability, of the accounting policies,
the reasonableness of significant judgments and the clarity of
disclosures in the financial statements.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Audit Committee reviewed with the independent
auditors, who are responsible for expressing an opinion on the
conformity of those audited financial statements with generally
accepted accounting principles, their judgments as to the
quality, not just the acceptability, of Pulte&#146;s accounting
policies and such other matters as are required to be discussed
with the Audit Committee under generally accepted auditing
standards. In addition, the Audit Committee has discussed with
the independent auditors the auditors&#146; independence from
management and Pulte, including the matters in the written
disclosures required by the Independence Standards Board, and
has considered the compatibility of nonaudit services with the
auditors&#146; independence.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Audit Committee discussed with Pulte&#146;s
internal and independent auditors the overall scope and plans
for their respective audits. The Audit Committee meets with the
internal and independent auditors, with and without management
present, to discuss the results of their examinations, their
evaluations of Pulte&#146;s internal controls, and the overall
quality of Pulte&#146;s financial reporting.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">In reliance on the reviews and discussions
referred to above, the Audit Committee recommended to the Board
of Directors (and the Board has approved) that the audited
financial statements be included in the Annual Report on
Form&nbsp;10-K for the year ended December&nbsp;31, 2001 for
filing with the Securities and Exchange Commission. The Audit
Committee and the Board have also approved the reappointment of
Ernst&nbsp;&#38; Young LLP as our independent auditors for the
year ending December&nbsp;31, 2002.
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="38%"></TD>
	<TD width="62%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">Members of the Audit Committee
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">David N. McCammon, <I>Chairman</I>
	</FONT></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">Debra J. Kelly-Ennis
	</FONT></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">Patrick J. O&#146;Meara
	</FONT></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">Michael E. Rossi
	</FONT></TD>
</TR>

</TABLE>

<DIV align="left">

</DIV>

<P align="center"><FONT size="2">15
</FONT>

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<P align="left">
<B><FONT size="2">Performance Graph</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The following line graph compares for the fiscal
years ended December&nbsp;31, 1997, 1998, 1999, 2000 and 2001
(a)&nbsp;the yearly cumulative total shareholder return
(<I>i.e., </I>the change in share price plus the cumulative
amount of dividends, assuming dividend reinvestment, divided by
the initial share price, expressed as a percentage) on Common
Stock, with (b)&nbsp;the cumulative total return of the
Standard&nbsp;&#38; Poor&#146;s 500 Stock Index, and with
(c)&nbsp;the cumulative total return on the common stock of
publicly-traded peer issuers we deem to be our principal
competitors in its homebuilding line of business (assuming
dividend reinvestment and weighted based on market
capitalization at the beginning of each year):
</FONT>

<P align="center">
<B><FONT size="2">COMPARISON OF FIVE YEAR CUMULATIVE TOTAL
RETURN*</FONT></B>

<DIV align="center">
<B><FONT size="2">Among Pulte Homes, Inc., S&#38;P 500 Index and
Peer Index</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">Fiscal Year Ended December&nbsp;31</FONT></B>
</DIV>

<P align="center">
<IMG src="k67058dk6705801.gif" alt="(PERFORMANCE GRAPH)">

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0">

<TR>
	<TD width="37%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="1%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
	<TD width="2%"><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="27"></TD>
</TR>

<TR>
	<TD colspan="27" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
	<TD colspan="27"></TD>
</TR>

<TR>
	<TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">1996</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">1997</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">1998</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">1999</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">2000</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD colspan="2" align="center" nowrap><B><FONT size="1">2001</FONT></B></TD><TD></TD>
	<TD></TD>
	<TD></TD>
</TR>

<TR>
	<TD colspan="27"></TD>
</TR>

<TR>
	<TD colspan="27" align="center" nowrap><HR size="1" noshade></TD>
</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Pulte Homes, Inc.
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">100</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">136</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">183</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">149</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">281</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">299</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="27" align="left"><HR size="1" noshade></TD>

</TR>

<TR valign="bottom" bgcolor="#EEEEEE">
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">S&#38;P 500 Index
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">100</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">133</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">171</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">207</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">188</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">166</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="27" align="left"><HR size="1" noshade></TD>

</TR>

<TR>
	<TD align="left" valign="top">
	<DIV style="margin-left:10px; text-indent:-10px">
	<FONT size="2">Peer Index**
	</FONT></DIV>
	</TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">100</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">144</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">176</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">118</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">214</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD align="right" valign="bottom" nowrap><FONT size="2">291</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
	<TD><FONT size="2">&nbsp;</FONT></TD>
</TR>

<TR>
	<TD colspan="27" align="left"><HR size="1" noshade></TD>

</TR>

</TABLE>
</CENTER>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="97%"></TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">&nbsp;*&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Assumes $100 invested on December&nbsp;31, 1996
	and the reinvestment of dividends.
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD><FONT size="2">**&nbsp;</FONT></TD>
	<TD align="left">
	<FONT size="2">Includes Centex Corporation, D.R.&nbsp;Horton
	Inc., Hovnanian Enterprises, Inc., KB Home (formerly known as
	Kaufman&nbsp;&#38; Broad Home Corporation), Lennar Corporation,
	The Ryland Group, Inc., Standard Pacific Corporation and Toll
	Brothers, Inc. Del Webb Corporation and Continental Homes
	Holding Corporation, both of which previously appeared in the
	index, have been excluded. D. R.&nbsp;Horton Inc., which
	acquired Continental Homes Holding Corporation in 1998, has been
	added to the index, and Del Webb Corporation, which we acquired
	in 2001, was removed from the index.
	</FONT></TD>
</TR>

</TABLE>

<P align="center"><FONT size="2">16
</FONT>

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<P align="left">


<!-- link1 "II. PROPOSED AMENDMENT TO OUR ARTICLES OF INCORPORATION TO INCREASE OUR AUTHORIZED COMMON STOCK" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="center">
<B><FONT size="2">II.&nbsp;PROPOSED AMENDMENT TO OUR ARTICLES OF
INCORPORATION TO</FONT></B>
</DIV>

<DIV align="center">
<B><FONT size="2">INCREASE OUR AUTHORIZED COMMON STOCK</FONT></B>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Article&nbsp;III of our Articles of Incorporation
presently authorizes 100,000,000&nbsp;shares of Common Stock,
$0.01&nbsp;par value per share, and 25,000,000&nbsp;shares of
Preferred Stock, $0.01&nbsp;par value per share. As of the
Record Date, none of the shares of Preferred Stock had been
issued and 60,565,191&nbsp;shares of Common Stock were issued
and outstanding, with 702,832&nbsp;additional shares of Common
Stock reserved for issuance pursuant to stock option plans.
</FONT>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Our Board of Directors has proposed an amendment
to Article&nbsp;III of our Articles of Incorporation to increase
the number of authorized shares of Common Stock from 100,000,000
to 200,000,000.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The approval of this proposed amendment to our
Articles of Incorporation to increase the number of authorized
shares of Common Stock requires the affirmative vote of the
holders, as of the Record Date, of the majority of the
outstanding shares of Common Stock. Abstentions, withheld votes
and broker non-votes will not be deemed votes cast in
determining the approval of this proposal, but they will be
counted for purposes of determining whether a quorum is present.
We expect that our officers and directors who are also
shareholders will vote for the proposal.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If our shareholders approve the proposal, newly
authorized shares of Common Stock will be available for issuance
by our Board of Directors for stock splits or stock dividends,
acquisitions, raising additional capital, stock options or other
corporate purposes. There are no present arrangements,
understandings or plans for the issuance of any such additional
shares. We do not anticipate that we would seek authorization
from the shareholders for issuance of such additional shares
unless required by applicable law or regulation. Any additional
shares, when issued, would have the same rights and preferences
as the shares of Common Stock presently outstanding. There are
no preemptive rights available to shareholders in connection
with the issuance of any such shares.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">One of the effects of the amendment, if adopted,
however, may also be to enable our Board of Directors to render
it more difficult to, or discourage an attempt to, obtain
control over us by means of a merger, tender offer, proxy
contest or otherwise, and thereby protect the continuity of
present management. Our Board of Directors would, unless
prohibited by applicable law, have additional shares of Common
Stock available to effect transactions (including private
placement) in which the number of outstanding shares of our
stock would be increased and would thereby dilute the interest
of any party attempting to gain control over us. Such action,
however, could discourage an acquisition of us which
shareholders might view as desirable. In addition, since our
shareholders have no preemptive rights to purchase additional
shares of Common Stock issued, the issuance of such shares could
dilute the interests of our current shareholders.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">The Board of Directors recommends a vote FOR
approval of the proposal to amend Article&nbsp;III of our
Articles of Incorporation. Proxies solicited by management will
be so voted unless shareholders specify in their proxies a
contrary choice.</FONT></B>

<P align="left">


<!-- link1 "III. PROPOSAL TO ADOPT 2002 STOCK INCENTIVE PLAN" -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="center">
<B><FONT size="2">III.&nbsp;PROPOSAL TO ADOPT 2002 STOCK
INCENTIVE PLAN</FONT></B>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Board of Directors proposes that the
shareholders approve the Pulte Homes, Inc. 2002&nbsp;Stock
Incentive Plan. Under the Stock Incentive Plan, both
Nonqualified Options and Incentive Options (as defined in the
Stock Incentive Plan) and stock appreciation rights may be
granted to key employees of Pulte and certain of our
subsidiaries.
</FONT>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Board of Directors believes that it is in our
best interest and the best interest of our shareholders to be
able to offer stock options and stock appreciation rights to key
employees, including officers, in accordance with the terms of
the Stock Incentive Plan in order to provide increased incentive
for such employees to make significant and extraordinary
contributions to our long-term performance and growth, to join
the interests of our key employees with the interests of our
shareholders, and to help us and our subsidiaries to secure and
retain the services of key employees. Adoption of the Stock
Incentive Plan, however, could have an &#147;anti-takeover&#148;
effect. Approval by holders of the majority of shares of Common
Stock present, either in person or
</FONT>

<P align="center"><FONT size="2">17
</FONT>

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<DIV align="left">
<FONT size="2">by proxy, at the Annual Meeting of Shareholders
is necessary for shareholder approval of the Stock Incentive
Plan.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The full text of the Stock Incentive Plan is set
forth in Appendix&nbsp;I to this Proxy Statement. The major
features of the Stock Incentive Plan are summarized below, but
this summary is qualified in its entirety by reference to the
actual text. Capitalized terms not otherwise defined herein have
the meanings given in the Stock Incentive Plan.
</FONT>

<P align="left">
<B><FONT size="2">Administration; Plan Participants</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Compensation Committee will administer the
Stock Incentive Plan. The Compensation Committee is authorized
to interpret the Stock Incentive Plan, to make, amend and
rescind rules and regulations relating to the Stock Incentive
Plan, and to make all other determinations necessary or
advisable for the Stock Incentive Plan&#146;s administration.
The Compensation Committee, in its discretion, will choose
participants in the Stock Incentive Plan from and among those
key employees who are or will become responsible for the
direction and financial success of us or our subsidiaries. No
determination has yet been made with respect to participants in
the Stock Incentive Plan.
</FONT>

<P align="left">
<B><FONT size="2">Shares Subject to Grant</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The maximum number of shares with respect to
which stock options or stock appreciation rights may be granted
under the Stock Incentive Plan will be 3,000,000&nbsp;shares of
Common Stock. Shares covered by expired or terminated stock
options or stock appreciation rights shall again become
available for grant under the Stock Incentive Plan. No employee
may receive options, stock appreciation rights, or any
combination thereof for more than 1,500,000&nbsp;shares over the
term of the Stock Incentive Plan. In addition, there are certain
limitations on the maximum value of Incentive Options which may
become first exercisable by any person in any year. The number
of shares subject to each outstanding stock option or stock
appreciation right, the option price with respect to outstanding
stock options, the grant value with respect to outstanding stock
appreciation rights, the aggregate number of shares remaining
available under the Stock Incentive Plan and the
1,500,000&nbsp;share per-employee limitation shall be subject to
such adjustment as the Compensation Committee, in its
discretion, deems appropriate to reflect such events as stock
dividends, stock splits, recapitalizations, mergers,
consolidations or reorganizations of or by us.
</FONT>

<P align="left">
<B><FONT size="2">Stock Options and Stock Appreciation
Rights</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Subject to the terms of the Stock Incentive Plan,
the Compensation Committee may grant to participants either
Incentive Options meeting the definition of an incentive stock
option under Code Section&nbsp;422, or Nonqualified Options not
meeting such definition, or any combination thereof. The
exercise price for a Nonqualified Option and an Incentive Option
may not be less than 100% of the fair market value of the stock
on the date of grant. However, the exercise price for an
Incentive Option granted to an employee who owns more than 10%
of our voting stock or any of our subsidiaries may not be less
than 110% of the fair market value of the stock on the date of
grant.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Subject to the terms of the Stock Incentive Plan,
the Compensation Committee may grant stock appreciation rights
to participants either in conjunction with, or independently of,
any stock option. Stock appreciation rights may be granted in
conjunction with stock options as an alternative right or as an
additional right. Upon exercise of the stock appreciation right,
a participant may generally be entitled to receive an amount
equal to the difference between the fair market value of the
shares at the time of grant and the fair market value of the
shares at the time of exercise. This amount may be payable in
cash or shares of Common Stock or any combination thereof.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Except as provided in the Stock Incentive Plan,
no stock option or stock appreciation right will be transferable
by a participant in the Stock Incentive Plan other than by will
or by the laws of descent and distribution, and stock options
and stock appreciation rights shall be exercisable, during the
lifetime of the participant, only by the participant.
</FONT>

<P align="center"><FONT size="2">18
</FONT>

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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If the employment of a participant in the Stock
Incentive Plan by Pulte or a subsidiary of Pulte shall
terminate, the Compensation Committee may, in its discretion,
permit the exercise of stock options and stock appreciation
rights granted to such participant (a)&nbsp;for a period not to
exceed three months following termination of employment with
respect to Incentive Options or related stock appreciation
rights if termination of employment with respect to Incentive
Options or related stock appreciation rights is not due to death
or permanent disability of the participant, (b)&nbsp;for a
period not to exceed one&nbsp;year following termination of
employment with respect to Incentive Options or related stock
appreciation rights if termination of employment is due to the
death or permanent disability of the participant, and
(c)&nbsp;for a period not to extend beyond the expiration date
with respect to Nonqualified Options or related independently
granted stock appreciation rights.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">At the time of the exercise of any option granted
pursuant to the Stock Incentive Plan, the participant must pay
the full option price of all shares purchased (a)&nbsp;in cash,
or (b)&nbsp;with the consent of the Compensation Committee,
(1)&nbsp;in Common Stock, (2)&nbsp;by Pulte retaining from the
shares to be delivered upon exercise of the option the number of
shares having the fair market value on the date of exercise
equal to the option price, (3)&nbsp;by promissory note payable
to the order of Pulte in a form acceptable to the Compensation
Committee, (4)&nbsp;by a cash down payment and delivery of such
a promissory note in the amount of the unpaid exercise price, or
(5)&nbsp;by delivery of irrevocable instructions to a stock
broker to promptly deliver to Pulte full payment of the option
price of the shares so purchased from the proceeds of the stock
broker&#146;s sale of, or loan against, such shares. The fair
market value of stock with respect to which Incentive Options
are first exercisable in any one year by a participant under the
Stock Incentive Plan or under any other stock option plan
maintained by Pulte (or any parent or subsidiary of Pulte)
cannot exceed $100,000.
</FONT>

<P align="left">
<B><FONT size="2">Amendment or Termination of the Stock
Incentive Plan</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The Stock Incentive Plan may be terminated or
amended at any time by our Board of Directors. Unless terminated
sooner, the Stock Incentive Plan will terminate on the date ten
years after it is adopted by the Board of Directors. The
termination of the Stock Incentive Plan will not affect the
validity of any stock option or stock appreciation right
outstanding on the date of termination.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">For purposes of conforming to any changes in
applicable law or governmental regulations, or for any other
lawful purpose, the Board of Directors will have the right, with
or without approval of our shareholders, to amend or revise the
terms of the Stock Incentive Plan at any time. However, no such
amendment or revision may (a)&nbsp;without approval or
ratification of our shareholders (1)&nbsp;increase the maximum
number of shares in the aggregate which are subject to the Stock
Incentive Plan (other than anti-dilution adjustments),
(2)&nbsp;increase the maximum number of shares for which any
participant in the Stock Incentive Plan may be granted stock
options or stock appreciation rights under the Stock Incentive
Plan (other than anti-dilution adjustments), (3)&nbsp;change the
class of persons eligible to be participants under the Stock
Incentive Plan, or (b)&nbsp;without the consent of the holder
thereof, change the stock option price (other than anti-dilution
adjustments) or alter or impair any stock option or stock
appreciation right which shall have been previously granted
under the Stock Incentive Plan.
</FONT>

<P align="left">
<B><FONT size="2">Federal Income Tax Consequences</FONT></B>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The rules governing the tax treatment of options,
stock appreciation rights and stock acquired upon the exercise
of options and stock appreciation rights are quite technical.
Therefore, the description of tax consequences set forth below
is necessarily general in nature and does not purport to be
complete. Moreover, statutory provisions are subject to change,
as are their interpretations, and their application may vary in
individual circumstances. Finally, the tax consequences under
applicable state and local income tax laws may not be the same
as under the federal income tax laws.
</FONT>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="left">
<I><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock
Options</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Incentive Options granted pursuant to the Stock
Incentive Plan are intended to qualify as &#147;Incentive Stock
Options&#148; within the meaning of Section 422 of the Code. If
the participant in the Stock Incentive Plan
</FONT>

<P align="center"><FONT size="2">19
</FONT>

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<DIV align="left">
<FONT size="2">makes no disposition of the shares acquired
pursuant to exercise of an Incentive Option within one year
after the transfer of shares to such participant and within two
years from the grant of the option, such participant will
realize no taxable income as a result of the grant or exercise
of such option, and any gain or loss that is subsequently
realized may be treated as long-term capital gain or loss, as
the case may be. Under these circumstances, we will not be
entitled to deduction for federal income tax purposes with
respect to either the issuance of such Incentive Options or the
transfer of shares upon their exercise.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If shares subject to Incentive Options are
disposed of prior to the expiration of the above time periods,
the participant in the Stock Incentive Plan will recognize
ordinary income in the year in which the disqualifying
disposition occurs, the amount of which will generally be the
lesser of (a)&nbsp;the excess of the market value of the shares
on the date of exercise over the option price, or (b)&nbsp;the
gain recognized on such disposition. In general, we may deduct
such amount for federal income tax purposes in the same year. In
addition, any excess of the amount realized on a disqualifying
disposition over the market value of the shares on the date of
exercise will be treated as capital gain.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">A participant in the Stock Incentive Plan who
acquires shares by exercise of a Nonqualified Option generally
realizes as taxable ordinary income, at the time of exercise,
the difference between the fair market value of the shares on
the date of the exercise and the exercise price. In general, we
may deduct such amount in the same year. Subsequent appreciation
or decline in the value of the shares on the sale or other
disposition of the shares will generally be treated as capital
gain or loss, as the case may be.
</FONT>

<P align="left">
<I><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock
Appreciation Rights</FONT></I>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">A participant in the Stock Incentive Plan
generally will recognize ordinary income upon the exercise of a
stock appreciation right in an amount equal to the amount of
cash received and the fair market value of any shares received
at the time of exercise, plus the amount of any taxes withheld.
In general, we may deduct such amounts in the same year,
provided that the amounts constitute reasonable compensation and
we satisfy certain federal income tax withholding requirements.
</FONT>

<P align="left">
<B><FONT size="2">Withholding Payments</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">If upon the exercise of a Nonqualified Option or
stock appreciation right, or upon a disqualifying disposition of
shares acquired upon exercise of an Incentive Option, Pulte or
any of its subsidiaries must pay amounts for income tax
withholding, then in the Compensation Committee&#146;s sole
discretion, Pulte will reduce appropriately the amount of stock
or cash to be delivered or paid to the participant in the Stock
Incentive Plan or the participant must pay such amount to us or
our subsidiary to reimburse it for such income tax withholding.
The Compensation Committee may, in its sole discretion, permit a
participant in the Stock Incentive Plan to satisfy such
withholding obligations by electing to reduce the number of
shares of Common Stock delivered or deliverable to the
participant upon exercise of a stock option or stock
appreciation right or by electing to tender an appropriate
number of shares of Common Stock back to us subsequent to
exercise of a stock option or stock appreciation right (with
such restrictions as the Compensation Committee may adopt).
</FONT>

<P align="left">
<B><FONT size="2">Accounting Treatment</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Stock appreciation rights will require a charge
against our earnings each year representing appreciation in the
value of such rights. In the case of stock appreciation rights,
such charge is based on the difference between the current
market price of the Common Stock and the market value of the
Common Stock on the date of grant. In the event of a decline in
the market price of the Common Stock subsequent to a charge
against earnings related to the estimated costs of stock
appreciation rights, reversal of prior charges is made in the
amount of such decline (but not to exceed aggregate prior
charges against earnings).
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Generally, neither the grant nor the exercise of
an Incentive Option or a Nonqualified Option under the Stock
Incentive Plan requires any charge against earnings if the
exercise price of the option is equal to the fair market value
of the stock on the date of the grant. If the exercise price is
below the fair market value of the stock on the date of the
grant, an earnings charge equal to the difference will be
required either at the date of grant or possibly over the term
of the option.
</FONT>

<P align="center"><FONT size="2">20
</FONT>

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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The approval of the proposal to adopt the 2002
Stock Incentive Plan requires the affirmative vote of the
holders, as of the Record Date, of the majority of the
outstanding shares of Common Stock. Abstentions, withheld votes
and broker non-votes will not be deemed votes cast in
determining the approval of this proposal, but they will be
counted for purposes of determining whether a quorum is present.
We expect that our officers and directors who are also
shareholders will vote for the proposal.
</FONT>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">The Board of Directors recommends a vote FOR
the proposal to adopt the 2002 Stock Incentive Plan. Proxies
solicited by management will be so voted unless shareholders
specify in their proxies a contrary choice.</FONT></B>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="center"><FONT size="2">21
</FONT>

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<P align="left">


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<DIV align="left"><A NAME="004"></A></DIV>

<DIV align="center">
<B><FONT size="2">IV.&nbsp;OTHER MATTERS</FONT></B>
</DIV>

<P align="left">
<B><FONT size="2">Relationship With Independent
Auditors</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Ernst&nbsp;&#38; Young LLP are our independent
auditors and our subsidiaries&#146; independent auditors and
have reported on our consolidated financial statements included
in our Annual Report, which accompanies this proxy statement.
Our independent auditors are ultimately accountable to our Board
of Directors and our Audit Committee. Fees for the
2001&nbsp;annual audit were $964,408, and all other fees were
$3,122,885, including audit related services of $787,669, and
non-audit services of $2,335,216. Fees for audit related
services include fees for pension and statutory audits,
accounting consultations, internal audit assistance and SEC
registration statements. Fees for non-audit services primarily
include fees related to assistance with accounting and tax
matters in connection with the Del&nbsp;Webb merger.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We expect representatives of Ernst&nbsp;&#38;
Young LLP to be present at the Annual Meeting of our
shareholders, and they will have the opportunity to make a
statement at the meeting. The representatives of
Ernst&nbsp;&#38; Young LLP will also be available to respond to
appropriate questions.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">With the recommendation of the Audit Committee,
the Board of Directors has reappointed Ernst&nbsp;&#38; Young
LLP as our independent auditors for the year ending
December&nbsp;31, 2002.
</FONT>

<P align="left">
<B><FONT size="2">Other Proposals</FONT></B>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We do not intend, nor do any of our directors
intend, to raise any matter at the Annual Meeting other than the
matters set forth in the Notice of Annual Meeting. To our
knowledge, and to the knowledge of our directors, no one else
intends to present any other matters for action at the Annual
Meeting. If any other matters do properly come before such
meeting, however, the persons named in the enclosed form of
proxy will vote the proxy in accordance with their best judgment.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">A shareholder proposal that is intended to be
presented at the Annual Meeting of Shareholders to be held in
2003 must be received by us at our principal executive offices,
33&nbsp;Bloomfield Hills Parkway, Suite&nbsp;200, Bloomfield
Hills, Michigan, 48304, Attention: Secretary, by
December&nbsp;3, 2002 to be considered for inclusion in the
proxy statement and proxy relating to that meeting. Such
proposals should be sent by certified mail, return receipt
requested.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">We must receive notice of any proposals of
shareholders that are intended to be presented at our
2003&nbsp;Annual Meeting of Shareholders, but that are not
intended to be considered for inclusion in our proxy statement
and proxy related to that meeting, no later than
February&nbsp;15, 2003 to be considered timely. Such proposals
should be sent to our Secretary at our principal executive
offices, 33&nbsp;Bloomfield Hills Parkway, Suite&nbsp;200,
Bloomfield Hills, Michigan, 48304 by certified mail, return
receipt requested. If we do not have notice of the matter by
that date, our form of proxy in connection with that meeting may
confer discretionary authority to vote on that matter, and the
persons named in our form of proxy will vote the shares
represented by such proxies in accordance with their best
judgment.
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="38%"></TD>
	<TD width="62%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">By Order of the Board of Directors
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">JOHN R. STOLLER
	</FONT></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">
	<FONT size="2">Senior Vice President, General Counsel and
	Secretary
	</FONT></TD>
</TR>

</TABLE>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="left">
<FONT size="2">April 3, 2002
</FONT>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="center"><FONT size="2">22
</FONT>

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<P align="left">


<!-- link1 "Appendix I" -->
<DIV align="left"><A NAME="005"></A></DIV>

<DIV align="right">
<B><FONT size="2">Appendix&nbsp;I</FONT></B>
</DIV>

<P align="center">
<B><FONT size="2">PULTE HOMES, INC.</FONT></B>

<DIV align="center">
<B><FONT size="2">2002 STOCK INCENTIVE PLAN</FONT></B>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">1.&nbsp;Definitions:</FONT></B><FONT size="2">
The following words and phrases, whenever capitalized, shall
have the following respective meanings, unless the context
otherwise requires:
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><I><FONT size="2">&#147;Board of
Directors&#148;</FONT></I></B><FONT size="2"> shall mean the
Board of Directors of the Corporation.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><I><FONT size="2">&#147;Code&#148;</FONT></I></B><FONT size="2">
shall mean the Internal Revenue Code of 1986, as amended, and
the Treasury Regulations thereunder.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><I><FONT size="2">&#147;Committee&#148;</FONT></I></B><FONT size="2">
shall mean the Compensation Committee designated by the Board of
Directors of the Corporation, or such other committee as shall
be specified by the Board of Directors to perform the functions
and duties of the Committee under the Plan; provided, however,
that the Committee shall comply with the requirements of
(<I>i</I>) Rule&nbsp;16b-3 of the Rules and Regulations under
the Exchange Act, and (<I>ii</I>) Section&nbsp;162(m) of the
Code.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><I><FONT size="2">&#147;Corporation&#148;</FONT></I></B><FONT size="2">
shall mean Pulte Homes, Inc., a Michigan corporation, or any
successor thereof.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><I><FONT size="2">&#147;Discretion&#148;</FONT></I></B><FONT size="2">
shall mean in the sole discretion of the Committee, with no
requirement whatsoever that the Committee follow past practices,
act in a manner consistent with past practices, or treat a key
employee in a manner consistent with the treatment afforded
other key employees with respect to the Plan.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><I><FONT size="2">&#147;Exchange
Act&#148;</FONT></I></B><FONT size="2"> shall mean the
Securities Exchange Act of 1934, as amended.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><I><FONT size="2">&#147;Incentive
Option&#148;</FONT></I></B><FONT size="2"> shall mean an option
to purchase common stock of the Corporation which meets the
requirements set forth in the Plan and also meets the definition
of an incentive stock option within the meaning of
Section&nbsp;422 of the Code. The stock option agreement for an
Incentive Option shall state that the option is intended to be
an Incentive Option.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><I><FONT size="2">&#147;Nonqualified
Option&#148;</FONT></I></B><FONT size="2"> shall mean an option
to purchase common stock of the Corporation which meets the
requirements set forth in the Plan but does not meet the
definition of an incentive stock option within the meaning of
Section&nbsp;422 of the Code. The stock option agreement for a
Nonqualified Option shall state that the option is intended to
be a Nonqualified Option.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><I><FONT size="2">&#147;Participant&#148;</FONT></I></B><FONT size="2">
shall mean any individual designated by the Committee under
Paragraph&nbsp;6 for participation in the Plan.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><I><FONT size="2">&#147;Participant
Agreement&#148;</FONT></I></B><FONT size="2"> shall have the
meaning set forth in Paragraph&nbsp;7 below.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><I><FONT size="2">&#147;Plan&#148;</FONT></I></B><FONT size="2">
shall mean this Pulte Homes, Inc. 2002&nbsp;Stock Incentive Plan.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><I><FONT size="2">&#147;Securities
Act&#148;</FONT></I></B><FONT size="2"> shall mean the
Securities Act of 1933, as amended.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><I><FONT size="2">&#147;Stock&#148;</FONT></I></B><FONT size="2">
shall mean stock or other equity interest.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><I><FONT size="2">&#147;Stock Appreciation
Right&#148;</FONT></I></B><FONT size="2"> shall mean a right to
receive the appreciation in value, or a portion of the
appreciation in value, of a specified number of shares of the
common stock of the Corporation, as provided in
Paragraph&nbsp;12 below.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><I><FONT size="2">&#147;Subsidiary&#148;</FONT></I></B><FONT size="2">
shall mean any corporation, limited liability company or similar
entity in which the Corporation owns, directly or indirectly,
Stock possessing more than 25% of the combined voting power of
all classes of Stock; provided, however, that an Incentive
Option may be granted to an employee of a Subsidiary only if the
Subsidiary is a corporation and the Corporation owns, directly
or indirectly, 50% or more of the total combined voting power of
all classes of Stock of the Subsidiary.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">2.&nbsp;Purpose of
Plan.&nbsp;</FONT></B><FONT size="2">The purpose of the Plan is
to provide key employees (including officers and directors who
are also key employees) of the Corporation and its Subsidiaries
with an increased incentive to make significant and
extraordinary contributions to the long term performance and
growth of the Corporation
</FONT>

<P align="center"><FONT size="2">23
</FONT>

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<DIV align="left">
<FONT size="2">and its Subsidiaries, to join the interests of
key employees with the interests of the shareholders of the
Corporation and to facilitate attracting and retaining key
employees of exceptional ability.
</FONT>
</DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">3.&nbsp;Administration.&nbsp;</FONT></B><FONT size="2">The
Plan shall be administered by the Committee. Subject to the
provisions of the Plan, the Committee shall determine, from
those eligible to be Participants under the Plan, the persons to
be granted stock options and Stock Appreciation Rights, the
amount of stock or rights to be optioned or granted to each such
person, and the terms and conditions of any stock options and
Stock Appreciation Rights. Subject to the provisions of the
Plan, the Committee is authorized to interpret the Plan, to
make, amend and rescind rules and regulations relating to the
Plan and to make all other determinations necessary or advisable
for the Plan&#146;s administration. Interpretation and
construction of any provision of the Plan by the Committee
shall, unless otherwise determined by the Board of Directors of
the Corporation, be final and conclusive. A majority of the
Committee shall constitute a quorum, and the acts approved by a
majority of the members present at any meeting at which a quorum
is present, or acts approved in writing by a majority of the
Committee, shall be the acts of the Committee.
</FONT>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">4.&nbsp;Indemnification of Committee
Members.&nbsp;</FONT></B><FONT size="2">In addition to such
other rights of indemnification as they may have, the members of
the Committee shall be indemnified by the Corporation in
connection with any claim, action, suit or proceeding relating
to any action taken or failure to act under or in connection
with the Plan or any option or Stock Appreciation Right granted
hereunder to the full extent provided for under the
Corporation&#146;s Bylaws with respect to indemnification of
directors of the Corporation.
</FONT>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">5.&nbsp;Maximum Number of Shares Subject to
Plan.&nbsp;</FONT></B><FONT size="2">The maximum number of
shares with respect to which stock options and Stock
Appreciation Rights may be granted under the Plan shall be
3,000,000 shares in the aggregate of common stock of the
Corporation. The number of shares with respect to which a Stock
Appreciation Right is granted, but not the number of shares
which the Corporation delivers or could deliver to a Participant
upon exercise of a Stock Appreciation Right, shall be charged
against the aggregate number of shares remaining available under
the Plan; provided, however, that in the case of a Stock
Appreciation Right granted in conjunction with a stock option
under circumstances in which the exercise of the Stock
Appreciation Right results in termination of the stock option
and vice versa, only the number of shares subject to the stock
option shall be charged against the aggregate number of shares
remaining available under the Plan. If a stock option or Stock
Appreciation Right expires or terminates for any reason (other
than termination as a result of the exercise of a related right)
without having been fully exercised, the number of shares with
respect to which the stock option or Stock Appreciation Right
was not exercised at the time of its expiration or termination,
shall again become available for the grant of stock options or
Stock Appreciation Rights under the Plan, unless the Plan shall
have been terminated.
</FONT>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Notwithstanding any other provision in this Plan,
no employee of the Corporation or a Subsidiary may receive
options, Stock Appreciation Rights, or any combination thereof
for more than 1,500,000 shares of common stock of the
Corporation over the term of the Plan, as provided in
Paragraph&nbsp;23. For purposes of this 1,500,000 share
per-employee limitation, there shall be taken into account all
shares covered by stock options and Stock Appreciation Rights
granted, to an employee regardless of whether such stock options
or Stock Appreciation Rights expire or terminate without being
fully exercised.
</FONT>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">The number of shares subject to each outstanding
stock option or Stock Appreciation Right, the option price with
respect to outstanding stock options, the grant value with
respect to outstanding Stock Appreciation Rights, the aggregate
number of shares remaining available under the Plan and the
1,500,000 share per-employee limitation shall be subject to such
adjustment as the Committee, in its Discretion, deems
appropriate to reflect such events as stock dividends, stock
splits, recapitalizations, mergers, consolidations or
reorganizations of or by the Corporation; provided, however,
that no fractional shares shall be issued pursuant to the Plan,
no rights may be granted under the Plan with respect to
fractional shares, and any fractional shares resulting from such
adjustments shall be eliminated from any outstanding stock
option or Stock Appreciation Right.
</FONT>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">6.&nbsp;Participants.
</FONT></B><FONT size="2">The Committee shall determine and
designate from time to time, in its Discretion, those key
employees of the Corporation or any Subsidiary to receive stock
options or Stock Appreciation Rights, who, in the judgment of
the Committee, are or will become responsible for the direction
and financial success
</FONT>

<P align="center"><FONT size="2">24
</FONT>

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<DIV align="left">
<FONT size="2">of the Corporation or any Subsidiary; provided,
however, that Incentive Options may be granted to key employees
of a Subsidiary only if (<I>i</I>)&nbsp;the Corporation owns,
directly or indirectly, 50% or more of the total combined voting
power of all classes of Stock of the Subsidiary and
(<I>ii</I>)&nbsp;the Subsidiary is a corporation. For the
purposes of the Plan, key employees shall include officers and
directors who are also key employees of the Corporation or any
Subsidiary.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">7.&nbsp;Written Agreement.
</FONT></B><FONT size="2">Each stock option and Stock
Appreciation Right shall be evidenced by a written Participant
Agreement containing such provisions as may be approved by the
Committee. Each such Participant Agreement shall constitute a
binding contract between the Corporation and the Participant and
every Participant, upon acceptance of such Participant
Agreement, shall be bound by the terms and restrictions of the
Plan and of such Participant Agreement. The terms of each such
Participant Agreement shall be in accordance with the Plan, but
each Participant Agreement may include such additional
provisions and restrictions determined by the Committee, in its
Discretion, provided that such additional provisions and
restrictions are not inconsistent with the terms of the Plan.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">8.&nbsp;Allotment of Shares.
</FONT></B><FONT size="2">The Committee shall determine and fix,
in its Discretion, the number of shares of common stock with
respect to which a Participant may be granted stock options and
Stock Appreciation Rights; provided, however, that no Incentive
Option may be granted under the Plan to any one Participant
where such grant would cause the aggregate fair market value,
determined as of the date the option is granted, of underlying
stock with respect to which incentive stock options are
exercisable for the first time by such Participant during any
calendar year under any plan maintained by the Corporation (or
any parent or subsidiary corporation of the Corporation) to
exceed $100,000.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">9.&nbsp;Stock Options.
</FONT></B><FONT size="2">Subject to the terms of the Plan, the
Committee, in its Discretion, may grant to Participants either
Incentive Options or Nonqualified Options or any combination
thereof. Each option granted under the Plan shall designate the
number of shares covered thereby, if any, with respect to which
the option is an Incentive Option, and the number of shares
covered thereby, if any, with respect to which the option is a
Nonqualified Option. The Committee, in its Discretion, may issue
reload options (that are Nonqualified Options) in connection
with the exercise of previously-granted Nonqualified Options.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">10.&nbsp;Stock Option Price.
</FONT></B><FONT size="2">Subject to the rules set forth in this
Paragraph&nbsp;10, at the time any stock option is granted, the
Committee, in its Discretion, shall establish the price per
share for which the shares covered by the option may be
purchased. With respect to an Incentive Option, such option
price shall not be less than 100% of the fair market value of
the stock on the date on which such option is granted; provided,
however, that with respect to an Incentive Option granted to an
employee who at the time of the grant owns (after applying the
attribution rules of Section&nbsp;424(d) of the Code) more than
10% of the total combined voting stock of the Corporation or of
any parent or Subsidiary, the option price shall not be less
than 110% of the fair market value of the stock on the date such
option is granted. With respect to a Nonqualified Option, the
option price shall not be less than 100% of the fair market
value of the stock on the date upon which such option is
granted. Fair market value of a share shall be determined by the
Committee and may be determined by taking the mean between the
highest and lowest quoted selling prices of the
Corporation&#146;s common stock on any exchange or other market
on which the shares of common stock of the Corporation shall be
traded on such date, or if there are no sales on such date, on
the next following day on which there are sales. The option
price shall be subject to adjustment in accordance with the
provisions of Paragraph&nbsp;5 above.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">11.&nbsp;Payment of Stock Option Price.
</FONT></B><FONT size="2">To exercise in whole or in part any
stock option granted hereunder, payment of the option price in
full in cash or, with the consent of the Committee, in common
stock of the Corporation or by a promissory note payable to the
order of the Corporation in a form acceptable to the Committee,
shall be made by the Participant for all shares so purchased.
Such payment may, with the consent of the Committee, also
consist of a cash down payment and delivery of such promissory
note in the amount of the unpaid exercise price. In the
Discretion of and subject to such conditions as may be
established by the Committee, payment of the option price may
also be made by the Corporation retaining from the shares to be
delivered upon exercise of the stock option that number of
shares having a fair market value on the date of exercise equal
to the option price of the number of shares with respect to
which the Participant exercises the stock option. Such payment
may also be made in such other manner as the Committee
determines is
</FONT>

<P align="center"><FONT size="2">25
</FONT>

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<DIV align="left">
<FONT size="2">appropriate, in its Discretion. No Participant
shall have any of the rights of a shareholder of the Corporation
under any stock option until the actual issuance of shares to
said Participant, and prior to such issuance no adjustment shall
be made for dividends, distributions or other rights in respect
of such shares, except as provided in Paragraph&nbsp;5.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">12.&nbsp;Stock Appreciation Rights.
</FONT></B><FONT size="2">Subject to the terms of the Plan, the
Committee may grant Stock Appreciation Rights to Participants
either in conjunction with, or independently of, any stock
options granted under the Plan. A Stock Appreciation Right
granted in conjunction with a stock option may be an alternative
right wherein the exercise of the stock option terminates the
Stock Appreciation Right to the extent of the number of shares
purchased upon exercise of the stock option and,
correspondingly, the exercise of the Stock Appreciation Right
terminates the stock option to the extent of the number of
shares with respect to which the Stock Appreciation Right is
exercised. Alternatively, a Stock Appreciation Right granted in
conjunction with a stock option may be an additional right
wherein both the Stock Appreciation Right and the stock option
may be exercised. A Stock Appreciation Right may not be granted
in conjunction with an Incentive Option under circumstances in
which the exercise of the Stock Appreciation Right affects the
right to exercise the Incentive Option or vice versa, unless the
Stock Appreciation Right, by its terms, meets all of the
following requirements:
</FONT>
<P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">

<TR>
	<TD width="3%"></TD>
	<TD width="97%"></TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	<B><FONT size="2">(a)&nbsp;</FONT></B><FONT size="2">the Stock
	Appreciation Right will expire no later than the Incentive
	Option;
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	<B><FONT size="2">(b)&nbsp;</FONT></B><FONT size="2">the Stock
	Appreciation Right may be for no more than the difference
	between the option price of the Incentive Option and the fair
	market value of the shares subject to the Incentive Option at
	the time the Stock Appreciation Right is exercised;
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	<B><FONT size="2">(c)&nbsp;</FONT></B><FONT size="2">the Stock
	Appreciation Right is transferable only when the Incentive
	Option is transferable, and under the same conditions;
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	<B><FONT size="2">(d)&nbsp;</FONT></B><FONT size="2">the Stock
	Appreciation Right may be exercised only when the Incentive
	Option is eligible to be exercised; and
	</FONT></TD>
</TR>

<TR>
	<TD>&nbsp;</TD>
</TR>

<TR valign="top">
	<TD>&nbsp;</TD>
	<TD align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
	<B><FONT size="2">(e)&nbsp;</FONT></B><FONT size="2">the Stock
	Appreciation Right may be exercised only when the fair market
	value of the shares subject to the Incentive Option exceeds the
	option price of the Incentive Option.
	</FONT></TD>
</TR>

</TABLE>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Upon exercise of a Stock Appreciation Right, a
Participant shall be entitled to receive, without payment to the
Corporation (except for applicable withholding taxes), an amount
equal to the excess of or, in the Discretion of the Committee if
provided in the Participant Agreement, a portion of the excess
of <I>(i)&nbsp;</I>the then aggregate fair market value of the
number of shares with respect to which the Participant exercises
the Stock Appreciation Right, over <I>(ii)&nbsp;</I>the
aggregate fair market value of such number of shares at the time
the Stock Appreciation Right was granted. This amount shall be
payable by the Corporation, in the Discretion of the Committee,
in cash or in shares of common stock of the Corporation or any
combination thereof.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">13.&nbsp;Granting and Exercising Stock Options
and Stock Appreciation Rights.</FONT></B><FONT size="2"> Subject
to the provisions of this Paragraph&nbsp;13, each stock option
and Stock Appreciation Right granted hereunder shall be
exercisable at any such time or times or in any such
installments as may be determined by the Committee at the time
of the grant; provided, however, that the aggregate fair market
value (determined at the time the option is granted) of the
common stock with respect to which Incentive Options are
exercisable for the first time by a Participant during any
calendar year shall not exceed $100,000.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">A Participant may exercise a stock option or
Stock Appreciation Right, if then exercisable, in whole or in
part by delivery to the Corporation of written notice of the
exercise, in such form as the Committee may prescribe,
accompanied, in the case of a stock option, by
<I>(i)&nbsp;</I>payment for the shares with respect to which the
stock option is exercised in accordance with Paragraph&nbsp;11,
or <I>(ii)&nbsp;</I>in the Discretion of the Committee,
irrevocable instructions to a stock broker to promptly deliver
to the Corporation full payment for the shares with respect to
which the stock option is exercised from the proceeds of the
stock broker&#146;s sale of or loan against the shares. Except
as provided in Paragraph 17, stock options and Stock
Appreciation Rights granted to a Participant may be exercised
only while the Participant is an employee of the Corporation or
a Subsidiary.
</FONT>

<P align="center"><FONT size="2">26
</FONT>

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<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">Successive stock options and Stock Appreciation
Rights may be granted to the same Participant, whether or not
the stock option(s) and Stock Appreciation Right(s) previously
granted to such Participant remain unexercised. A Participant
may exercise a stock option or a Stock Appreciation Right, if
then exercisable, notwithstanding that stock options and Stock
Appreciation Rights previously granted to such Participant
remain unexercised.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">14.&nbsp;Non-transferability of Stock Options
and Stock Appreciation Rights.</FONT></B><FONT size="2"> No
stock option or Stock Appreciation Right granted under the Plan
to a Participant shall be transferable by such Participant
otherwise than by will or by the laws of descent and
distribution, and stock options and Stock Appreciation Rights
shall be exercisable, during the lifetime of the Participant,
only by the Participant. Notwithstanding the foregoing, in its
Discretion and subject to such terms and conditions as it may
prescribe, the Committee may permit a Participant to transfer a
Nonqualified Option or a related or independently granted Stock
Appreciation Right.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">15.&nbsp;Term of Stock Options and Stock
Appreciation Rights. </FONT></B><FONT size="2">If not sooner
terminated, each stock option and Stock Appreciation Right
granted hereunder shall expire not more than ten (10)&nbsp;years
from the date of the granting thereof; provided, however, that
with respect to an Incentive Option or a related Stock
Appreciation Right granted to a Participant who, at the time of
the grant, owns (after applying the attribution rules of
Section&nbsp;424(d) of the Code) more than ten percent (10%) of
the total combined voting stock of all classes of stock of the
Corporation or of any parent or Subsidiary, such option and
Stock Appreciation Right shall expire not more than five
(5)&nbsp;years after the date of granting thereof.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">16.&nbsp;Continuation of Employment.
</FONT></B><FONT size="2">The Committee may require, in its
Discretion, that any Participant under the Plan to whom a stock
option or Stock Appreciation Right shall be granted shall agree
in writing as a condition of the granting of such stock option
or Stock Appreciation Right to remain in the employ of the
Corporation or a Subsidiary for a designated minimum period from
the date of the granting of such stock option or Stock
Appreciation Right as shall be fixed by the Committee.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">17.&nbsp;Termination of Employment.
</FONT></B><FONT size="2">If the employment of a Participant by
the Corporation or a Subsidiary shall terminate, the Committee
may, in its Discretion, permit the exercise of stock options and
Stock Appreciation Rights granted to such Participant
<I>(i)&nbsp;</I>for a period not to exceed three months
following termination of employment with respect to Incentive
Options or related Stock Appreciation Rights if termination of
employment is not due to death or permanent disability of the
Participant, <I>(ii)&nbsp;</I>for a period not to exceed one
year following termination of employment with respect to
Incentive Options or related Stock Appreciation Rights if
termination of employment is due to the death or permanent
disability of the Participant, and <I>(iii)&nbsp;</I>for a
period not to extend beyond the expiration date with respect to
Nonqualified Options or related or independently granted Stock
Appreciation Rights. In no event, however, shall a stock option
or Stock Appreciation Right be exercisable subsequent to its
expiration date and, furthermore, unless the Committee in its
Discretion determine otherwise, a stock option or Stock
Appreciation Right may only be exercised after termination of a
Participant&#146;s employment to the extent exercisable on the
date of termination of employment or to the extent exercisable
as a result of the reason for termination of employment. The
period of time, if any, a Participant shall have to exercise
stock options or Stock Appreciation Rights upon termination of
employment shall be set forth in the Participant Agreement,
subject to extension of such time period by the Committee in its
Discretion.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">18.&nbsp;Investment Purpose.
</FONT></B><FONT size="2">If the Committee in its Discretion
determines that as a matter of law such procedure is or may be
desirable, it may require a Participant, upon any acquisition of
common stock hereunder (whether by reason of the exercise of
stock options or Stock Appreciation Rights) and as a condition
to the Corporation&#146;s obligation to issue or deliver
certificates representing such shares, to execute and deliver to
the Corporation a written statement, in form satisfactory to the
Committee, representing and warranting that the
Participant&#146;s acquisition of shares of stock shall be for
such person&#146;s own account, for investment and not with a
view to the resale or distribution thereof and that any
subsequent offer for sale or sale of any such shares shall be
made either pursuant to (a)&nbsp;a registration statement on an
appropriate form under the Securities Act which registration
statement has become effective and is current with respect to
the shares being offered and sold, or (b)&nbsp;a specific
exemption from the registration requirements of the Securities
Act, but in claiming such exemption the Participant shall, prior
to any offer for sale or sale of such shares,
</FONT>

<P align="center"><FONT size="2">27
</FONT>

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<DIV align="left">
<FONT size="2">obtain a favorable written opinion from counsel
for or approved by the Corporation as to the availability of
such exemption. The Corporation may endorse an appropriate
legend referring to the foregoing restriction upon the
certificate or certificates representing any shares issued or
transferred to a Participant under the Plan.
</FONT>
</DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">19.&nbsp;Rights to Continued Employment.
</FONT></B><FONT size="2">Nothing contained in the Plan or in
any stock option or Stock Appreciation Right granted pursuant to
the Plan, nor any action taken by the Committee hereunder, shall
confer upon any Participant any right with respect to
continuation of employment by the Corporation or a Subsidiary
nor interfere in any way with the right of the Corporation or a
Subsidiary to terminate such person&#146;s employment at any
time.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">20.&nbsp;Withholding Payments.
</FONT></B><FONT size="2">If upon the exercise of a Nonqualified
Option or Stock Appreciation Right, or upon a disqualifying
disposition (within the meaning of Section&nbsp;422 of the Code)
of shares acquired upon exercise of an Incentive Option, there
shall be payable by the Corporation or a Subsidiary any amount
for income tax withholding, in the Committee&#146;s Discretion,
either the Corporation shall appropriately reduce the amount of
common stock or cash to be delivered or paid to the Participant
or the Participant shall pay such amount to the Corporation or
Subsidiary to reimburse it for such income tax withholding. The
Committee may, in its Discretion, permit Participants to satisfy
such withholding obligations, in whole or in part, by electing
to have the amount of common stock delivered or deliverable by
the Corporation upon exercise of a stock option or Stock
Appreciation Right, or by electing to tender common stock back
to the Corporation subsequent to exercise of a stock option or
Stock Appreciation Right, to reimburse the Corporation or a
Subsidiary for such income tax withholding, subject to such
rules and regulations as the Committee may adopt. The Committee
may make such other arrangements with respect to income tax
withholding as it shall determine.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">21.&nbsp;Effectiveness of Plan.
</FONT></B><FONT size="2">The Plan shall be effective on the
date the Board of Directors of the Corporation adopts the Plan,
provided that the shareholders of the Corporation approve the
Plan within 12&nbsp;months of its adoption by the Board of
Directors. Stock options and Stock Appreciation Rights may be
granted or awarded prior to shareholder approval of the Plan,
but each such stock option, Stock Appreciation Right shall be
subject to shareholder approval of the Plan. No stock option or
Stock Appreciation Right may be exercised prior to shareholder
approval.
</FONT>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><FONT size="2">22.&nbsp;Termination, Duration and Amendments
of Plan. </FONT></B><FONT size="2">The Plan may be abandoned or
terminated at any time by the Board of Directors of the
Corporation. Unless sooner terminated, the Plan shall terminate
on the date ten years after its adoption by the Board of
Directors, and no stock options or Stock Appreciation Rights may
be granted or awarded thereafter. The termination of the Plan
shall not affect the validity of any stock option or Stock
Appreciation Right outstanding on the date of termination.
</FONT>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<FONT size="2">For the purpose of conforming to any changes in
applicable law or governmental regulations, or for any other
lawful purpose, the Board of Directors shall have the right,
with or without approval of the shareholders of the Corporation,
to amend or revise the terms of the Plan at any time; provided,
however, that no such amendment or revision shall <I>(i)</I>
without approval or ratification of the shareholders of the
Corporation (A)&nbsp;increase the maximum number of shares in
the aggregate which are subject to the Plan (subject, however,
to the provisions of Paragraph&nbsp;5), (B)&nbsp;increase the
maximum number of shares for which any Participant may be
granted stock options or Stock Appreciation Rights under the
Plan (except as contemplated by Paragraph&nbsp;5),
(C)&nbsp;change the class of persons eligible to be Participants
under the Plan, or (D)&nbsp;materially increase the benefits
accruing to Participants under the Plan, or <I>(ii)</I> without
the consent of the holder thereof, change the stock option price
(except as contemplated by Paragraph&nbsp;5) or alter or impair
any stock option or Stock Appreciation Right which shall have
been previously granted under the Plan.
</FONT>

<DIV align="left"><FONT size="1">

</FONT></DIV>

<P align="center"><FONT size="2">28
</FONT>

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<P align="right">
<FONT size="2">PHMCM-PS-01
</FONT>
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<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="55%">
<TR valign="bottom">
        <TD width="58%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="35%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align="right" valign="top"><FONT size="2">DETACH HERE</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
ZPHMC2</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2"><B>PULTE HOMES, INC.</B>

</FONT>




<P align="center"><FONT size="2"><B>PROXY SOLICITED BY THE BOARD OF DIRECTORS OF PULTE HOMES, INC.<BR>
ANNUAL MEETING OF SHAREHOLDERS &#151; May&nbsp;15, 2002</B>

</FONT>




<P><FONT size="2">The undersigned authorizes each of William J. Pulte and Mark J. O&#146;Brien, with
full power of substitution and resubstitution, to represent and vote the
undersigned&#146;s stock as his, her or its proxy at the annual meeting of Pulte&#146;s
shareholders to be held May&nbsp;15, 2002, and at any adjournments thereof.

</FONT>

<P><FONT size="2"><B>The shares represented by this proxy will be voted in accordance with
specifications made herein. If no specifications are made, this proxy will be
voted FOR each of the following proposals:</B>

</FONT>

<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2"><B>(1)</B></FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2"><B>the election of the nominees for director listed on the
reverse side of this proxy card;</B></FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2"><B>(2)</B></FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2"><B>the amendment of Pulte&#146;s Articles of Incorporation to increase
the number of authorized shares of common stock from
100,000,000 shares, $0.01 par value, to 200,000,000 shares,
$0.01 par value; and</B></FONT></TD>
</TR>
<TR>
        <TD><FONT size="2">&nbsp;</FONT></TD>
</TR>
<TR valign="top">
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="1%" align="left" nowrap><FONT size="2"><B>(3)</B></FONT></TD>
        <TD width="3%"><FONT size="2">&nbsp;</FONT></TD>
        <TD width="93%"><FONT size="2"><B>the adoption of the Pulte Homes, Inc. 2002 Stock Incentive Plan.</B></FONT></TD>
</TR>
</TABLE>
<P align="center"><FONT size="2"><B>PLEASE MARK, DATE AND SIGN, AND RETURN THIS PROXY CARD PROMPTLY, USING THE ENCLOSED ENVELOPE.<BR>
NO POSTAGE IS REQUIRED IF MAILED IN THE UNITED STATES OF AMERICA.</B>
</FONT>

<P><FONT size="2">The signature of the shareholder should correspond exactly with the name set
forth on this proxy card. Joint owners should each sign. When signing as
attorney, executor, administrator, trustee or guardian, please give your full
title as such, and where more than one name appears, a majority of them must
sign. If the shareholder is a corporation, an authorized officer of the
corporation should sign this proxy card and should state his or her title.

</FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="51%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="44%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">HAS YOUR ADDRESS CHANGED?</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
DO YOU HAVE ANY COMMENTS?</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR>
        <TD valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
<TR>
        <TD valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
<TR>
        <TD valign="top"><HR size="1" noshade></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
<HR size="1" noshade></FONT></TD>
</TR>
</TABLE>
</CENTER>



<P align="center"><FONT size="2"></FONT>


<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<P><FONT size="2"><B>PULTE HOMES, INC.<BR>
<P></P>
C/O EQUISERVE<BR>
P.O. BOX 43068<BR>
PROVIDENCE, RI 02940</B>
</FONT>

<P></P>
<P></P>




<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="55%">
<TR valign="bottom">
        <TD width="42%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="53%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align="right" valign="top"><FONT size="2">DETACH HERE</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="right" valign="top"><FONT size="2">
ZPHMC1</FONT></TD>
</TR>
</TABLE>
</CENTER>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="95%">
<TR valign="bottom">
        <TD width="5%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="87%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2"><img src="k67058dpi5-178.gif" alt="X IN BALLOT BOX"></FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
<B>Please mark<BR>
votes as in<BR>
this example.</B></FONT></TD>
</TR>
</TABLE>
</CENTER>
<P align="center"><FONT size="2"><B>PULTE HOMES, INC.<BR>
The Board of Directors recommends a vote &#147;FOR&#148; proposals 1, 2 and 3.</B>
</FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="95%">
<TR valign="bottom">
        <TD width="45%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="40%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">1. The election of four Directors for terms expiring in 2005:</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
(<B>01)</B>
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2"><B>D. Kent Anderson</B></FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
<B>(02)</B>
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2"><B>Mark J. O&#146;Brien</B></FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
<B>(03)</B>
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2"><B>John J. Shea</B></FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
<B>(04)</B>
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2"><B>William B. Smith</B></FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">The election of one Director
for a term expiring in 2004:</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
<B>(05)</B>
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2"><B>Michael B. Rossi</B></FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">The election of one Director
for a term expiring in 2003:</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
<B>(06)</B>
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2"><B>Bernard W. Reznicek</B></FONT></TD>
</TR>
</TABLE>
</CENTER>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="55%">
<TR valign="bottom">
        <TD width="25%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="20%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="20%">&nbsp;</TD>
        <TD width="5%">&nbsp;</TD>
        <TD width="20%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2"><B>FOR</B></FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2"><B>WITHHELD</B></FONT></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2"><B>ALL</B></FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2"><img src="k67058dpi5-110.gif" alt="OPEN BALLOT BOX"></FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2"><img src="k67058dpi5-110.gif" alt="OPEN BALLOT BOX"></FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2"><B>FROM ALL</B></FONT></TD>
</TR>

<TR valign="bottom">
        <TD align="center" valign="top"><FONT size="2"><B>NOMINEES</B></FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">

</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2">
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2"><B>NOMINEES</B></FONT></TD>
</TR>
</TABLE>
</CENTER>
<CENTER>
<TABLE width="80%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>
<TR><TD><FONT size="2"><img src="k67058dpi5-110.gif" alt="OPEN BALLOT BOX">&nbsp;&nbsp;</FONT></TD>
        <TD valign="bottom"><FONT size="2"><hr size="1" noshade></FONT></TD>
</TR>
</table>
</CENTER>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0">
<TR>
        <TD width="6%"></TD>
        <TD width="94%"></TD>
</TR>
<TR valign="top">
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2"><B>NOTE: If you do not wish your shares voted &#147;FOR&#148; a particular nominee,
mark the box above and write the name(s) of such nominee(s) on the line
above. Your shares will be voted for the remaining nominee(s).</B></FONT></TD>
</TR>

</TABLE>
<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="6%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="67%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="6%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="6%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2"><B>FOR</B>
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2"><B>AGAINST</B>
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2"><B>ABSTAIN</B></FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">2.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
A proposal to amend Pulte Homes, Inc.&#146;s Articles of Incorporation to
increase the number of authorized shares of common stock from
100,000,000 shares, $0.01 par value, to 200,000,000 shares, $0.01 par
value; and
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2"><img src="k67058dpi5-110.gif" alt="OPEN BALLOT BOX">
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2"><img src="k67058dpi5-110.gif" alt="OPEN BALLOT BOX">
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2"><img src="k67058dpi5-110.gif" alt="OPEN BALLOT BOX"></FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2"><B>FOR</B>
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2"><B>AGAINST</B>
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" valign="top"><FONT size="2"><B>ABSTAIN</B></FONT></TD>
</TR>

<TR valign="bottom">
        <TD valign="top"><FONT size="2">3.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">
A proposal to adopt the Pulte Homes, Inc. 2002 Stock Incentive Plan.
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2"><img src="k67058dpi5-110.gif" alt="OPEN BALLOT BOX">
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2"><img src="k67058dpi5-110.gif" alt="OPEN BALLOT BOX">
</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2"><img src="k67058dpi5-110.gif" alt="OPEN BALLOT BOX"></FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">4.</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD colspan="7" align="left" valign="top"><FONT size="2">
In their discretion, the proxies are authorized to vote upon any other business that may properly come before the meeting.</FONT></TD>
</TR>

<TR><TD>&nbsp;</TD></TR>
<TR valign="bottom">
        <TD colspan="8" align="left" valign="top"><FONT size="2">
Mark the box at the right if you noted an address change or comment
on the reverse side of this card</FONT></TD>
<TD align="center" valign="top"><FONT size="2"><img src="k67058dpi5-110.gif" alt="OPEN BALLOT BOX"></FONT></TD>
</TR>
</TABLE>
</CENTER>


<P><FONT size="2">The undersigned acknowledges receipt of the notice of the annual meeting of
Pulte&#146;s shareholders, the related proxy statement and the Annual Report for
2001.

</FONT>

<P><FONT size="2">The signature of the shareholder should correspond exactly with the name set
forth on this proxy card. Joint owners should each sign. When signing as
attorney, executor, administrator, trustee or guardian, please give your full
title as such, and where more than one name appears, a majority must sign. If the shareholder is a corporation, an authorized officer of the
corporation should sign this proxy card and should state his or her title.

</FONT>

<P><FONT size="2">The undersigned revokes any proxy or proxies
previously given to vote such stock.
The undersigned ratifies and confirms any actions that the persons holding the
undersigned&#146;s proxy, or their substitutes, by virtue of this executed card take
in accordance with the proxy granted hereunder. If only one attorney and proxy
shall be present and acting, then that one shall have and may exercise all the
powers of said attorneys and proxies.

</FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="3%">&nbsp;</TD>
        <TD width="25%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="15%">&nbsp;</TD>
        <TD width="3%">&nbsp;</TD>
        <TD width="25%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="15%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">Signature:</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">Date:</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Signature: </FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="left" valign="top"><FONT size="2">Date:</FONT></TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2"></FONT></TD>
        <TD><FONT size="2"><hr size="1" noshade></FONT></TD>
        <TD><FONT size="2"></FONT></TD>
        <TD><FONT size="2"><hr size="1" noshade></FONT></TD>
        <TD align="left" valign="top"><FONT size="2"></FONT></TD>
        <TD><FONT size="2"><hr size="1" noshade></FONT></TD>
        <TD align="left" valign="top"><FONT size="2"></FONT></TD>
        <TD><FONT size="2"><hr size="1" noshade></FONT></TD>
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end

</TEXT>
</DOCUMENT>
</SUBMISSION>
