<SEC-DOCUMENT>0000950123-11-101744.txt : 20111202
<SEC-HEADER>0000950123-11-101744.hdr.sgml : 20111202
<ACCEPTANCE-DATETIME>20111202122559
ACCESSION NUMBER:		0000950123-11-101744
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20111202
ITEM INFORMATION:		Material Impairments
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20111202
DATE AS OF CHANGE:		20111202

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Meritage Homes CORP
		CENTRAL INDEX KEY:			0000833079
		STANDARD INDUSTRIAL CLASSIFICATION:	OPERATIVE BUILDERS [1531]
		IRS NUMBER:				860611231
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-09977
		FILM NUMBER:		111239421

	BUSINESS ADDRESS:	
		STREET 1:		17851 NORTH 85TH STREET
		STREET 2:		SUITE 300
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85255
		BUSINESS PHONE:		480-515-8100

	MAIL ADDRESS:	
		STREET 1:		17851 NORTH 85TH STREET
		STREET 2:		SUITE 300
		CITY:			SCOTTSDALE
		STATE:			AZ
		ZIP:			85255

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MERITAGE CORP
		DATE OF NAME CHANGE:	19981009

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MONTEREY HOMES CORP
		DATE OF NAME CHANGE:	19970113

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HOMEPLEX MORTGAGE INVESTMENTS CORP
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>c25498e8vk.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
<HEAD>
<TITLE>Form 8-K</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">



<DIV style="font-size: 10pt">
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 1pt solid black; font-size: 1pt">&nbsp;</DIV>


<P align="center" style="font-size: 14pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P align="center" style="font-size: 18pt"><B>FORM 8-K</B>

<P align="center" style="font-size: 12pt"><B>CURRENT REPORT<BR>
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P align="center" style="font-size: 10pt"><B>Date of Report (Date of
earliest event reported): December 2, 2011</B>

<P align="center">

<P align="center" style="font-size: 24pt"><B>MERITAGE HOMES CORPORATION<BR></B>
<FONT style="font-size: 10pt">(Exact name of registrant as specified in its charter)
</FONT>

<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="32%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD style="border-bottom: 1px solid #000000"><B>Maryland</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>1-9977</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>86-0611231</B></TD>
</TR>
<TR valign="top">
    <TD>(State or other Jurisdiction of Incorporation)</TD>
    <TD>&nbsp;</TD>
    <TD>(Commission File Number)</TD>
    <TD>&nbsp;</TD>
    <TD>(IRS Employer Identification No.)</TD>
</TR>
</TABLE>

<TABLE border="0" width="100%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="49%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD style="border-bottom: 1px solid #000000"><B>17851 N. 85<SUP style="font-size: 85%; vertical-align: text-top">th</SUP> Street, Suite 300, Scottsdale, Arizona</B></TD>
    <TD>&nbsp;</TD>
    <TD style="border-bottom: 1px solid #000000"><B>85255</B></TD>
</TR>
<TR valign="top">
    <TD>(Address of Principal Executive Offices)</TD>
    <TD>&nbsp;</TD>
    <TD>(Zip Code)</TD>
</TR>
</TABLE>

<P align="center" style="font-size: 10pt">Registrant&#146;s telephone number, including area code: <B>(480) 515-8100</B>


<TABLE border="0" width="30%" cellspacing="0" cellpadding="0" style="font-size: 10pt; text-align: center">
<TR>
    <TD width="100%">&nbsp;</TD>
</TR>
<TR>
    <TD nowrap style="border-bottom: 1px solid #000000"><B>&nbsp;</B></TD>
</TR>
<TR>
    <TD nowrap>(Former name or former address if changed since last report.)</TD>
</TR>
</TABLE>

<P align="left" style="font-size: 10pt">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:

<P align="left" style="font-size: 10pt">
<FONT face="Wingdings">&#111;</FONT> Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR><BR>
<FONT face="Wingdings">&#111;</FONT> Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>


<P>
<DIV style="width: 100%; border-bottom: 1pt solid black; margin-top: 10pt; font-size: 1pt">&nbsp;</DIV>
<DIV style="width: 100%; border-bottom: 2pt solid black; font-size: 1pt">&nbsp;</DIV>

</DIV>

<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt; display: none">1
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif; margin-left: .25in; width: 7.50in">

<DIV align="left" style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="7%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">ITEM 2.06</TD>
    <TD>&nbsp;</TD>
    <TD>MATERIAL IMPAIRMENTS</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">On
December&nbsp;2, 2011, we announced in a press release that as part of a strategic repositioning
we will be winding down our homebuilding operations in Las Vegas as we build out and complete our
existing communities. We further announced that we intend to sell our remaining lots in
communities that have not opened. In connection with these actions, we expect to incur charges of
approximately $8&nbsp;million during the fourth quarter of 2011,
none of which are expected to result in future cash expenditures. Our conclusion to take these actions and the
resulting charges occurred on December&nbsp;1, 2011.
</DIV>

<DIV align="left" style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="7%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">ITEM 8.01</TD>
    <TD>&nbsp;</TD>
    <TD>OTHER EVENTS</TD>
</TR>
</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">On
December&nbsp;2, 2011, we also announced in a press release that we were entering the Tampa
market. A copy of this press release, including information concerning forward-looking statements
and factors that may affect our future results, is attached as Exhibit&nbsp;99.1. This press release is
being furnished, not filed, under Item&nbsp;8.01 in this Report on Form 8-K.
</DIV>

<DIV align="left" style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="7%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">ITEM 9.01</TD>
    <TD>&nbsp;</TD>
    <TD>FINANCIAL STATEMENTS AND EXHIBITS</TD>
</TR>
</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">(d)</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Exhibits</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 10pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">
<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">99.1</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Press Release dated December&nbsp;2, 2011</TD>
</TR>

</TABLE>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt">SIGNATURES
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt; text-indent: 4%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Dated:
December&nbsp;2, 2011
</DIV>


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left">MERITAGE HOMES CORPORATION<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top" style="border-bottom: 1px solid #000000" align="left">/s/&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">Larry W. Seay
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" align="left">Larry W. Seay&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Executive Vice President and<BR>Chief Financial Officer&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio --><!-- /Folio -->
</DIV>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>c25498exv99w1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
<TITLE>Exhibit 99.1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><B>Exhibit&nbsp;99.1</B>
</DIV>


<DIV align="right" style="font-size: 10pt; margin-top: 10pt"><IMG src="c25498p2549801.jpg" alt="(LOGO)">
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head --><TR valign="bottom">
    <TD width="52%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="34%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Contacts:</B>
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Brent Anderson<BR>
(972)&nbsp;580-6360 (office)<BR>
<U>Brent.Anderson@meritagehomes.com</U></TD>
</TR>
<TR valign="bottom" style="padding-top: 1px"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom" style="padding-top: 1px">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Lisa Noble<BR>
(602)&nbsp;417-0685 (office)<BR>
<U>lnoble@c-k.com</U></TD>
</TR>
<!-- End Table Body --></TABLE>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B>Meritage Homes Enters Tampa Market, Expanding Southeast Region Presence</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 10pt"><B><I>Company Plans to Wind Down Las Vegas Operations as Part of Repositioning</I></B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt">(PHOENIX &#151; December&nbsp;2, 2011) &#151; Meritage Homes (NYSE:MTH) is expanding its national reach by
beginning to secure land positions for its new Tampa division, broadening its presence in the
southeast. The company plans to begin building energy-efficient homes in Tampa during the first
quarter of 2012.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">This is Meritage&#146;s second new expansion market this year. The homebuilder entered into the
desirable Raleigh-Durham, N.C., market in April and opened its first communities for sale there in
October. Meritage Homes is one of the top 10 homebuilders in the nation, and among the top five
homebuilders in many of its largest markets.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">&#147;The Tampa area is one of the most attractive homebuilding markets in the southeastern United
States, with the second-largest economy in Florida and strong job growth expected,&#148; said Meritage
Homes Chief Executive Officer Steve Hilton. &#147;It offers us another opportunity to redeploy our
resources into an area where we can grow and leverage the expertise of our current managers in the
southeast.&#148;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Meritage Homes appointed a senior management team headed by Fred Vandercook, Florida division
president, to manage this expansion. Under Fred&#146;s leadership, Meritage&#146;s Florida division has been
one of the company&#146;s best performing divisions, with division revenue increasing more than 50
percent since he was appointed president.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">&#147;Tampa has a large employment base of 1.1&nbsp;million that includes desirable, robust industries such
as medical, retail, technology and energy, and is expected to add approximately 14,800 jobs this
year, combined with a relatively low supply of resale homes and declining listings,&#148; said
Vandercook. &#147;We plan to offer new Meritage homes at competitive prices with features you won&#146;t find
in other new or resale homes. Just as we experienced in Orlando, we are confident that home buyers
will recognize that Meritage homes offer better living and tremendous value over most other homes.&#148;
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">As part of this strategic repositioning, Meritage will be winding down its homebuilding operations
in Las Vegas as it builds out and completes its existing open communities. The company intends to
sell its remaining lots in communities it has not opened, and expects to incur charges of
approximately $8&nbsp;million related to these plans during the fourth quarter of 2011.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Meritage Homes is known nationally for its high-performance, energy-efficient homes which
incorporate advanced building technologies. These features are integrated into the homes&#146; designs
from the ground up and included at no extra cost to home buyers, resulting in energy savings up to
50&nbsp;percent or more compared to the average existing home in the U.S. Meritage has been driving this
residential revolution since 2009 and was the first national homebuilder to exceed the EPA&#146;s ENERGY
STAR<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> qualification requirements in all of its homes beginning in 2010.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">For more information, visit <U>meritagehomes.com</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U><B>ABOUT MERITAGE HOMES CORPORATION</B></U><BR>
Meritage Homes is one of the top 10 homebuilders in the United States based on homes closed.
Meritage builds a variety of homes across the Southern and Western states to appeal to a wide range
of buyers, including first-time, move-up, luxury and active adults. As of September&nbsp;30, 2011, the
Company had 149 actively selling communities in 12 metropolitan areas, including Houston,
Dallas/Ft. Worth, Austin, San Antonio, Phoenix/Scottsdale, Tucson, Las Vegas, Denver, Orlando, and
the East Bay/Central Valley and Southern California. Meritage also opened its first communities in
the Raleigh-Durham market during October&nbsp;2011.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Meritage has designed and built more than 70,000 homes in its 26-year history, and has a reputation
for its distinctive style, quality construction and positive customer experience. In 2010, Meritage
launched its new Simply Smart Series&#153; of homes and its 99-day guaranteed completion program in
certain communities. Meritage was the first large national homebuilder to be 100&nbsp;percent ENERGY
STAR<SUP style="font-size: 85%; vertical-align: text-top">&#174;</SUP> qualified in every home started since January&nbsp;1, 2010.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Meritage Homes is listed on the NYSE under the symbol MTH.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">For more information about the Company, visit http://investors.meritagehomes.com.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Click here to join our email alert list: <U>http://www.b2i.us/irpass.asp?BzID=1474&#038;to=ea&#038;s=0</U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 10pt"><U><B>FORWARD-LOOKING STATEMENTS</B></U><BR>
This press release contains forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements include management&#146;s plans to secure additional
communities and begin building homes in Tampa during the first quarter of 2010; offer homes at
competitive prices with features not found in other new or resale homes; its plans to complete its
existing open communities in Las Vegas, sell its lots in unopened communities and incur charges of
approximately $8&nbsp;million related to these plans during the fourth quarter of 2011.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Such statements are based upon preliminary financial and operating data which are subject to
finalization by management and review by Meritage&#146;s independent registered public accounting firm,
as well as the current beliefs and expectations of Company management, and current market
conditions, which are subject to significant risks and uncertainties. Actual results may differ
from those set forth in the forward-looking statements. The Company makes no commitment, and
disclaims any duty, to update or revise any forward-looking statements to reflect future events or
changes in these expectations.
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV style="font-family: Helvetica,Arial,sans-serif; margin-left: .25in; width: 7.50in">

<DIV align="left" style="font-size: 10pt; margin-top: 10pt">Meritage&#146;s business is subject to a number of risks and uncertainties. As a result of those risks
and uncertainties, the Company&#146;s stock and note prices may fluctuate dramatically. The risks and
uncertainties include but are not limited to the following: weakness in the homebuilding market
resulting from the current economic downturn; interest rates and changes in the availability and
pricing of residential mortgages; adverse changes in tax laws that benefit our homebuyers; the
ability of our potential buyers to sell their existing homes; cancellation rates and home prices in
our markets; inflation in the cost of materials used to construct homes; the adverse effect of
slower sales absorption rates; potential write-downs or write-offs of assets, including pre-acquisition
costs and deposits; our potential exposure to natural disasters; the liquidity of our joint
ventures and the ability of our joint venture partners to meet their obligations to us and the
joint venture; competition; the success of our strategies in the current homebuilding market and
economic environment; the adverse impacts of cancellations resulting from small deposits relating
to our sales contracts; construction defect and home warranty claims; our success in prevailing on
contested tax positions; the impact of deferred tax valuation allowances and our ability to
preserve our operating loss carryforwards; our ability to obtain performance bonds in connection
with our development work; the loss of key personnel; our failure to comply with laws and
regulations; the availability and cost of materials and labor; our lack of geographic
diversification; fluctuations in quarterly operating results; the Company&#146;s financial leverage and
level of indebtedness; our ability to take certain actions because of restrictions contained in the
indentures for the Company&#146;s senior and senior subordinated notes and our ability to raise
additional capital when and if needed; our credit ratings; successful integration of future
acquisitions; government regulations and legislative or other initiatives that seek to restrain
growth or new housing construction or similar measures; acts of war; the replication of our &#147;Green&#148;
technologies by our competitors; and other factors identified in documents filed by the Company
with the Securities and Exchange Commission, including those set forth in our Form 10-K for the
year ended December&nbsp;31, 2010 under the caption &#147;Risk Factors,&#148; and updated in our recent Quarterly
Reports on Forms 10-Q, all of which can be found on our website.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 10pt">###
</DIV>



<P align="center" style="font-size: 10pt">&nbsp;

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>




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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
