DREIER R CHAD

• Purchase • Sale • Planned purchase • Planned sale Net purchase Net sale Activity signal Earnings

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Abbreviations B: Buy, S: Sell, PP: Planned purchase, PlS: Planned sale, PrS: Proposed sale, O: Option / Other

Notification date	Transaction date	Company	B/S Transaction type	Nb. shares Price Value	Number of shares	Price	Value	Details
2004-07-27	2004-07-26	Ryland Group Inc (RYL)	S Sale	41,525 +1.1% 303.05 US$827,124	41,525 +1.1%	303.05	US$827,124
2004-07-27	2004-07-26	Ryland Group Inc (RYL)	S Sale	13,501 +14.6% 281.86 US$3,430,632	13,501 +14.6%	281.86	US$3,430,632