Standard Pacific Corp. Announces Special Stockholder Meeting to be Held August 18, 2008

    IRVINE, Calif., July 16 /EMWNews/ -- Standard Pacific

Corp. (NYSE: SPF) today announced that a special meeting of stockholders

will be held on Monday, August 18, 2008, at 10:30 a.m. local time at the

Company's corporate office in Irvine, California, for the purpose of (i)

approving the conversion of shares of the Company's outstanding Senior

Convertible Preferred Stock into Series B Junior Participating Convertible

Preferred Stock, the issuance of Series B Junior Participating Convertible

Preferred Stock upon the exercise of the Company's outstanding Warrant and

the issuance of common stock upon the conversion of the Series B Junior

Participating Convertible Preferred Stock, (ii) approving the Company's

Amended and Restated Certificate of Incorporation, and (iii) amending the

Company's 2008 Equity Incentive Plan. The Company's Board of Directors has

fixed the close of business on July 9, 2008 as the record date for the

determination of stockholders entitled to receive notice of and to vote at

the special meeting and any postponement or adjournment thereof.



    Additional Information



    Standard Pacific (the "Company") intends to file a definitive proxy

statement with the Securities and Exchange Commission (the "SEC") in

connection with the proposed special meeting of stockholders discussed

above. Stockholders should read the proxy statement and other relevant

documents when they become available because they will contain important

information. The proxy statement, any amendments or supplements to the

proxy statement, and other relevant documents filed by the Company with the

SEC will be available for free at http://www.sec.gov and at the Company's

website, http://www.standardpacifichomes.com, or by writing to: Standard

Pacific Corp., 15326 Alton Parkway, Irvine, CA 92618-2338 (Attn: Corporate

Secretary). The Company and its executive officers and directors may be

deemed participants in the solicitation of proxies from the Company's

stockholders with respect to the special meeting. Information regarding the

Company's directors and executive officers, including with respect to their

interests, equity and otherwise, will appear in the Company's definitive

proxy statement to be filed for the special meeting.



    Standard Pacific Corp., one of the nation's largest homebuilders, has

built homes for more than 100,000 families during its 42-year history. The

Company constructs homes within a wide range of price and size targeting a

broad range of homebuyers. Standard Pacific operates in many of the largest

housing markets in the country with operations in major metropolitan areas

in California, Florida, Arizona, the Carolinas, Texas, Colorado and Nevada.

The Company provides mortgage financing and title services to its

homebuyers through its subsidiaries and joint ventures, Standard Pacific

Mortgage, Inc., SPH Home Mortgage, Universal Land Title of South Florida

and SPH Title. For more information about the Company and its new home

developments, please visit our website at:

http://www.standardpacifichomes.com.



    Forward Looking Statements



    This news release contains forward-looking statements, including

statements regarding the Company's plan to hold a special stockholders'

meeting. All forward-looking statements in this news release reflect the

Company's current analysis of existing facts and information and represent

the Company's judgment only as of the date of this news release. Actual

events or results might differ materially from these statements due to

risks and uncertainties, including those associated with postponement,

adjournment or cancellation of the stockholder meeting and those associated

with the approval of any of the proposals to be voted on at the meeting.

The Company expressly disclaims any intent or obligation to update these

forward-looking statements, except as required to do so by law. For a

discussion of certain of the risks, uncertainties and other factors

affecting the statements contained in this news release, see the Company's

most recent Annual Report on Form 10 K and Quarterly Reports on Form 10-Q.






     Contact:

     Andrew H. Parnes, Executive Vice President-Finance & CFO (949) 789-1616,

     [email protected] or

     Lloyd H. McKibbin, Senior Vice President & Treasurer (949) 789-1603,

     [email protected].