November 12, 2003

KB Home Expands Presence in Florida With Treasure Coast and Fort Myers Divisions

LOS ANGELES, Nov. 12 /PRNewswire-FirstCall/ -- KB Home (NYSE: KBH), one of the nation's largest homebuilders, has announced the latest move in its expansion in the Florida market with two new start-up divisions, in the Treasure Coast, which includes Port St. Lucie through Melbourne, and in the Fort Myers area. The builder currently operates in Jacksonville, Orlando and Tampa.

"We have a strong track record building a leadership position in every region in which we operate," said KB Home Chairman and CEO Bruce Karatz. "The success we've seen growing our business over the past two years in Florida made adding these divisions a logical next step in our continuing commitment to offer quality and value to Florida homebuyers."

Joining KB Home to launch the new divisions are Brad Jones, appointed president for the company's new Treasure Coast division, and Charles Cook, named division president for Fort Myers. Jones brings 20 years' homebuilding expertise to KB Home as well as direct experience running his own business, most recently operating his own interior products distribution company. Cook comes to KB Home with direct experience running a start-up division and a strong land background with more than 20 years working for homebuilders in Florida.

KB Home is one of America's largest homebuilders with domestic operating divisions in the following regions and states: West Coast -- California; Southwest -- Arizona, Nevada and New Mexico; Central -- Colorado, Illinois and Texas; and Southeast -- Florida, Georgia and North Carolina. Kaufman & Broad S.A., the Company's majority-owned subsidiary, is one of the largest homebuilders in France. In fiscal 2002, the Company delivered 25,565 homes in the United States and France. It also operates KB Home Mortgage Company, a full-service mortgage company for the convenience of its buyers. Founded in 1957, KB Home is a Fortune 500 company listed on the New York Stock Exchange under the ticker symbol "KBH." For more information about any of KB Home's new home communities, call 1-888-KB-HOMES or visit the Company's Web site at www.kbhome.com .

For further information, please contact Kate Mulhearn of KB Home, +1-310-231-4147, kmulhearn@kbhome.com

SOURCE KB Home


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