DEVELOPMENT CORP OF AMERICA &lt;DCA> MERGED

  Development Corp of America
  said its merger with Lennar Corp &lt;LEN> was completed and its
  stock no longer existed.
      Development Corp of America, whose board approved the
  acquisition last November for 90 mln dlrs, said the merger was
  effective today and its stock now represents the right to
  receive 15 dlrs a share.
      The American Stock Exchange said it would provide further
  details later.
  

