WINLEY BUYS LAND FROM M.D.C. HOLDINGS INC &lt;MDC>
  Winley Home Builders Inc said
  it completed a land purchase agreement with M.D.C. Holdings Inc
  &lt;MDC> for 1,090,000 dlrs in notes and preferred stock.
      The company said it bought 33 lots in Colorado from
  Richmond Homes Ltd, an M.D.C. unit, in return for 650,000 dlrs
  in promissory notes and 440,000 dlrs in preferred stock.
      The company said M.D.C. has an option to convert Winley
  preferred stock into 20 pct Winley common in a year.
  

