X0201 3 2003-09-01 0 0000038570 ORLEANS HOMEBUILDERS INC OHB 0001273823 GUERNIER JEFFREY C C/O ORLEANS HOMEBUILDERS, INC. ONE GREENWOOD SQUARE 3333 ST RD, # 101 BENSALEM PA 19020 0 1 0 0 Division Manager Common Stock 20400 D Put Option-right to sell 3.33 Common Stock 9700 D Put Option-right to sell 3.33 2005-10-13 2005-10-22 Common Stock 9700 D Note 1: 4,850 of the shares are issuable to the reporting person on October 12, 2004, subject to certain conditions. Note 2: Right becomes exercisable upon receipt of notice from issuer, which shall be given at any time after July 31, 2005. Reporting person has 30 days from receipt of notice to exercise put option. Note 3; 2,425 of the put options relate to shares issuable to the reporting person on October 12, 2004. Jeffrey C. Guernier 2003-12-23