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Exchange-Traded Fund

In the wide and varied family of the thousands and thousands of funds out there, the exchange-traded fund is one of the more consumer-friendly ones.

Unlike mutual funds, exchange-traded funds, or ETFs, behave more like stocks. You can buy into an ETF at any time, and sell it whenever you feel like it. And like a stock, an ETF's value can rise and fall--depending on what the ETF is invested in.What do ETFs invest in? Well, they're typically linked to an index like the Dow Jones Industrial Average or the S&P 500. So, if you had an ETF that trades the same companies that make up the Dow or the S&P, it will rise and fall in value pretty much the same amount as the Dow or S&P.

You can also buy ETFs that invest in other types of products, like bonds, currencies, gold or other commodities. The ETF market has grown considerably in the past few years, so there is no shortage of ETFs to invest in.

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Monday, July 21, 2008

Standard Pacific Corp. Provides Notice of Terms of Transferable Rights Offering to Stockholders

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Comtex

IRVINE, Calif., July 21, 2008 /PRNewswire-FirstCall via COMTEX/ ----Standard Pacific Corp. (NYSE: SPF) today announced the terms of its previously announced transferable rights offering of common stock. The Company will issue transferable subscription rights to purchase approximately 50,000,000 shares of the Company's common stock to all of its common stockholders of record as of July 28, 2008. The rights offering is being made pursuant to the Investment Agreement, dated as of May 26, 2008, as amended, between the Company and MP CA Homes LLC, an affiliate of MatlinPatterson Global Advisers LLC. Pursuant to the Investment Agreement, MP CA Homes will serve as a standby purchaser in the rights offering and purchase, in the form of preferred stock, the common stock equivalent of all shares not purchased through the exercise of subscription rights by the Company's other stockholders. Each of the Company's stockholders as of the record date will receive one subscription right for each share of common stock held as of the record date, which subscription right will entitle the stockholder to purchase 0.7 shares of common stock at $3.05 per full share. No fractional shares will be issued in the rights offering. The rights are transferable and are expected to be admitted for trading on the New York Stock Exchange under the symbol "SPF RT". The rights offering will expire at 5:00 p.m. New York City time on August 22, 2008, unless it is extended.

 Important Dates: Last Day to Buy Stock and Receive Rights ....... July 23, 2008 Shares Trade Ex-Rights .........................
   July 24, 2008 Record Date .................................... July 28, 2008 Subscription Period ............................
   From August 4, 2008 To August 22, 2008 (1) Last Day Rights May Be Traded .................. August 21, 2008 (1) Expiration
   Date ................................ August 22, 2008 (1) (1) Unless the rights offering is extended.

A copy of the prospectus supplement relating to the rights offering along with additional materials related to the rights offering will be mailed to the Company's stockholders as of the record date as soon as practicable on or about August 4, 2008. Stockholders may also obtain a copy of the prospectus supplement from the information agent for the rights offering, The Altman Group, 1200 Wall Street West, 3rd Floor, Lyndhurst, NJ 07071,Call toll-free: (866) 864-4946, Banks and Brokers call: (201) 806-7300.

Credit Suisse Securities (USA) LLC is acting as Dealer Manager for the rights offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Standard Pacific Corp.

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.

Safe Harbor and Forward-Looking Statements

This news release contains forward-looking statements. Such statements involve known and unknown risks, uncertainties, assumptions and other factors many of which are out of our control and difficult to forecast that may cause actual results to differ materially from those that may be described or implied. In particular, to the extent that such statements relate to the proposed rights offering referred to in this release, there is a risk, among others, that the rights offering may not be commenced or, if commenced, completed, and that the rights may not be traded on the New York Stock Exchange.

 Contact: Andrew H. Parnes, Executive Vice President-Finance & CFO (949) 789-1616,
   aparnes@stanpac.com. or Lloyd H. McKibbin, Senior Vice President & Treasurer (949) 789-1603, lmckibbin@stanpac.com.

SOURCE Standard Pacific Corp.

http://www.standardpacifichomes.com

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