2008-07-24 23:44:35 -

www.ryland.com - The board of directors of The Ryland Group, Inc. (NYSE: RYL), has declared a third-quarter dividend of $0.12 per share, payable on Oct. 30, 2008, to common stockholders of record on Oct. 15, 2008.

Headquartered in Southern California, Ryland is one of the nation's largest homebuilders and a leading mortgage-finance company. Since its founding

in 1967, Ryland has built more than 275,000 homes and financed more than 235,000 mortgages. The Company currently operates in 17 states and 21 homebuilding divisions across the country and is listed on the New York Stock Exchange under the symbol "RYL." For more information, please visit www.ryland.com.

The Ryland Group, Inc.
Drew Mackintosh, Vice President, Investor Relations
818-223-7548
or
Marya Barlow, Director, Communications
818-223-7591