HORSHAM, Pa., Dec. 10, 2007 (PRIME NEWSWIRE) -- Toll Brothers, Inc. (NYSE:TOL) (www.tollbrothersinc.com), the nation's leading builder of luxury homes, today announced that, on December 10, 2007, Robert I. Toll, its chief executive officer, exercised stock options for 960,000 shares of the Company's common stock that were issued ten years ago and were to expire on December 30, 2007. After the Company's trading window opened, Mr. Toll sold that portion of the option shares necessary to pay the option exercise price and taxes on the exercise, and retained the balance of the shares for investment. As a result, he has increased his ownership in the Company by 374,658 shares. After the transaction, he beneficially owns approximately 29,123,000 shares of common stock (including options exercisable within 60 days).
Likewise, on the same date and for the same reasons, the Company's chief operating officer, Zvi Barzilay, and chief financial officer, Joel Rassman, exercised options for 84,032 and 113,632 shares, respectively, which were to expire on December 20, 2007, sold a portion of those shares to pay the respective option exercise prices and taxes on exercise, and retained the balance of 36,032 and 48,735 shares, respectively.