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8 Daniel Loeb M.D.C. Holdings, Inc. transactions

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Increased shares by 14.3% (+58 Thousand shares) Q1 2005
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Increased shares by 6.1% (+23.2 Thousand shares) Q2 2004
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Increased shares by 65.0% (+151 Thousand shares) Q1 2004
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Sold 42.8% shares (-173 Thousand shares) Q3 2003
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Increased shares by 11.0% (+40 Thousand shares) Q2 2003
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Increased shares by 15.2% (+48.2 Thousand shares) Q1 2003
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Increased shares by 980.6% (+288 Thousand shares) Q4 2002
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New holding (+29.3 Thousand shares) Q3 2002
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