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Exhibit 99.1



FOR IMMEDIATE RELEASE                CONTACT: Frederick N. Cooper (215) 938-8312
November 18, 2002                                    fcooper@tollbrothersinc.com
                                                 Joseph R. Sicree (215) 938-8045
                                                     jsicree@tollbrothersinc.com


         TOLL BROTHERS FINANCE CORP. ISSUES $300 MILLION OF SENIOR NOTES
                       GUARANTEED BY TOLL BROTHERS, INC.

Huntingdon Valley, PA, November 18, 2002 -- Toll Brothers, Inc. (NYSE: TOL),
today announced that the Company has entered into an agreement to sell $300
million principal amount of 6.875% Senior Notes due 2012 in a private placement.
The Notes will be issued by Toll Brothers Finance Corp., a wholly-owned
subsidiary, and will be guaranteed on a senior basis by Toll Brothers, Inc. and
all of its subsidiaries that guarantee its current bank credit facilities.

The private placement is expected to close on November 22, 2002. Subject to
closing of the private placement, a portion of the net proceeds will be used to
retire all of the Company's existing 8 3/4% Senior Subordinated Notes due 2006.
The balance will be used to repay amounts outstanding under the Company's $615
million unsecured revolving credit facility and for general corporate purposes.
The Notes have been rated BBB- by Standard & Poor's and Baa3 by Moody's
Investors Service.

The Notes will be sold to qualified institutional buyers in reliance on Rule
144A. The Notes have not and will not be registered under the Securities Act of
1933, as amended (the "Securities Act"), and unless so registered, may not be
offered or sold in the United States except pursuant to an exemption from, or in
a transaction not subject to, the registration requirements of the Securities
Act and applicable state securities laws. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy, nor shall
there be any sale of the Notes in any state in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such state. This notice is being issued pursuant to and
in accordance with Rule 135c under the Securities Act.