"While it's exciting to be the biggest homebuilder, it's more important to us that we be the best," said Bruce Karatz, chairman and chief executive officer. "We're selling more homes than anyone else in the industry because we're listening to our customers and providing them with the choices, quality and pricing they deserve."

"We've developed a business model with our New Home Showrooms, sales-oriented website and dedicated customer call center, that is the most customer-focused in the industry. By continuing to be the most innovative and user-friendly, we'll continue to set homebuilding records," Karatz added.

Karatz expects that new home deliveries will continue to grow in fiscal 2000 as the Company plans to build homes in nearly 350 communities.

Since Karatz took the helm as CEO from founder Eli Broad in 1986, total annual home deliveries are up 419 percent from 4,327. He is often credited for changing the homebuilding industry from a traditionally unglamorous business into a vibrant "retail" business that offers consumers maximum choice and flexibility.

Karatz has long been known for his innovative marketing programs including a recent tie-in with today's hottest new toy, Pokemon. The life-sized replica of The Simpson's cartoon house built by Kaufman and Broad was dubbed "the most successful promotion in homebuilding history" by Builder Magazine. Karatz' history of successful promotions can be traced back to a 1977 event in Paris, France when a home he constructed on the roof of one of the city's largest department stores drew nearly one million visitors.

The Company expects to release its full year 1999 results on January 13, 2000.

Kaufman and Broad Home Corporation, the largest homebuilder in the United States based on the number of homes delivered, is headquartered in Los Angeles with operating divisions in California, Nevada, Arizona, New Mexico, Texas, Colorado and Utah. The Company is also one of the largest homebuilders in France. It operates a mortgage company to meet its customers' home financing needs. Kaufman and Broad was the first homebuilder listed on the New York Stock Exchange where its stock continues to be traded (NYSE: KBH).

Except for the historical information contained herein, certain matters discussed in this press release are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995, including any statements concerning future financial performance, business and prospects, and future Company actions and their expected results. These forward-looking statements are based on current expectations and projections and are not guarantees of future performance, which could be materially different. These forward-looking statements are subject to risks, uncertainties and assumptions including, but not limited to, changes in general economic conditions, employment levels, costs of homebuilding, material and labor, home mortgage and other interest rates, the secondary market for mortgage loans, consumer confidence, competition, currency exchange rates (insofar as they affect the Company's operations in France), environmental factors, government regulations affecting the Company's operations, the availability and cost of land in desirable areas, unanticipated violations of Company policy, the success of the Company and its significant suppliers in identifying and addressing operating systems and programs that are not year 2000 ready, property tax rates, unanticipated delays in Company operations and conditions in the capital, credit and homebuilding markets. See the Company's Annual Report on Form 10-K and its Annual Report to Shareholders for the year ended November 30, 1998 for a further discussion of these and other risks and uncertainties applicable to the Company's business.

SOURCE Kaufman and Broad Home Corporation

For More Information Contact:
Kate Mulhearn
(310) 231-4015
kmulhearn@kbhome.com