X0202 3 2004-07-19 0 0000038570 ORLEANS HOMEBUILDERS INC OHB 0001301958 Upper Kyle J C/O ORLEANS HOMEBUILDERS, INC. 3333 STREET ROAD, SUITE 101 BENSALEM PA 19020 0 1 0 0 V. P. Land Acquisition Employee Stock Option (right to buy) 1.1875 2008-04-20 Common Stock 20000 D Options vest in four equal annual installments of 5,000 each beginning on April 20, 1999 and ending on April 20, 2002. Kyle J. Upper 2004-08-30