Date: Friday, 21-Nov-97 01:59:32 GMT Server: Open-Market-Secure-WebServer/2.0.5.RC0 MIME-version: 1.0 Security-Scheme: S-HTTP/1.1 Accept-Ranges: bytes Content-length: 5743 Last-modified: Tuesday, 19-Aug-97 14:53:49 GMT Content-type: text/html Oakwood Homes Corporation

Five Decades of Growth

First Office 1946 - Oakwood Trailers, Inc., files incorporation papers with the State of North Carolina. Business purposes were originally listed as: "To buy and sell house trailers, commercial trailers, and automobiles. Purchase and operate trailer parks, sell parts and accessories of all kinds. To buy and sell and deal in pleasure boats."

Ralph Darling 1952 - Ralph Darling purchased all outstanding shares of Oakwood stock from partners and investors. He is considered the company's founder; after all, it is on his foundation and business character the modern corporation is built.

James E. LaVasque photo 1965 - James E. LaVasque joins Oakwood as president and leads a 13-year growth spurt for the company.

1969 - Oakwood builds 44,000-square-foot manufacturing facility in Richfield, NC. Forty-two Oakwood employees constructed and shipped the company's first Oakwood-built mobile home: "The Richfield."

1971 - Oakwood Homes Corporation organized. First shares of common stock traded publicly.

Second Office 1974 - Oakwood's stock lists on the American Stock Exchange for the first time on June 14, 1974. The same month, home office employees moved into a spacious three-story building near the original sales center location.

1978 - In December, James E. LaVasque dies in plane crash. Employee photo

1979 - February 1st, Nicholas J. St. George joins Oakwood Homes Corporation as President and CEO.

1985 - Oakwood Acceptance Corporation was established to provide consumer financing

1986 - Oakwood posts its 11th consecutive year of increased earnings -- an extraordinary accomplishment in the manufactured housing industry or any other. The winning spirit is further evidenced by the company's move to the most prestigious stock market in the world, the New York Stock Exchange.

Freedom Homes

1987 - Company opens its first Freedom Homes sales center in Charlotte, N.C.

1988 - President and CEO Nick St. George releases action plan for a prosperous decade. Early the next year, while Oakwood is posting $106 million in sales, St. George sets company goal at $1 billion by the year 2000.

1993 - Oakwood takes manufacturing to Texas. Oakwood named seventh fastest-growing company on the New York Stock Exchange.

Golden West Homes 1994 - On September 30th, Oakwood Homes Corporation completed acquisition of Golden West Homes, a California-based operation. The move accelerates Oakwood's expansion plans in Western markets.

Destiny Industries,Inc.

1995 - Destiny Industries, Inc., in Moultrie, Ga., is acquired by Oakwood, providing a foundation for expansion in the Deep South

1996 - Oakwood Homes Corporation and Deutsche Financial Services join forces to provide Deutsche Financial Capital financing for retail purchasers of manufactured housing. The new company is called Deutsche Financial Capital. In July, Oakwood established a new corporate headquarters location in Greensboro: a highly visible 132,000-square-foot facility.


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