CALABASAS, Calif.–(EMWNews)–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.

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