Standard Pacific Corp. Names John M. Stephens Chief Financial Officer and John P. Babel General Counsel and Secretary

Wednesday, February 25, 2009 9:02 AM

IRVINE, Calif., Feb. 25 /PRNewswire-FirstCall/ -- Standard Pacific Corp. (NYSE: SPF), one of the nation's largest homebuilders, announced today that John M. Stephens has been elected Chief Financial Officer, and John P. Babel has been elected General Counsel and Secretary of the Company.

'I am pleased to be able to promote two strong candidates from within the Company's ranks', said Ken Campbell, Standard Pacific's Chief Executive Officer. 'These promotions recognize the tremendous contributions that these two individuals have made to the Company to date and reflect our belief that they will excel in their new roles.'

Mr. Stephens joined Standard Pacific in November 1996 as the Company's Corporate Controller, was promoted to Vice President in 2002 and to Senior Vice President in 2007. Prior to joining the Company, Mr. Stephens was an audit manager for an international accounting firm. Mr. Babel joined Standard Pacific in October 2002 as the Company's Associate General Counsel, was promoted to Vice President in 2005 and Senior Vice President in 2008. Prior to joining the Company, Mr. Babel was a senior associate at international law firm Gibson, Dunn & Crutcher LLP.

In related news, the Company reported that in connection with the settlement of employment related claims, Clay A. Halvorsen, the Company's General Counsel and Secretary and Andrew H. Parnes, the Company's Chief Financial Officer, resigned from their positions with the Company, effective February 20, 2009 and February 24, 2009, respectively.

Standard Pacific, one of the nation's largest homebuilders, has built homes for more than 105,000 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 Standard Pacific Mortgage, Inc. and SPH Title. For more information about the Company and its new home developments, please visit our website at: www.standardpacifichomes.com.

    Contacts:
    John M. Stephens, Senior Vice President & CFO (949) 789-1641,
    jstephens@stanpac.com or
    Lloyd H. McKibbin, Senior Vice President & Treasurer (949) 789-1603,
    lmckibbin@stanpac.com

SOURCE Standard Pacific Corp.

(Source: PR Newswire )

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