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| KB Home Appoints James Gonzalez Vice President of Investor Relations |
| LOS ANGELES – February 3, 2003– KB Home (NYSE: KBH), one of the nation’s largest homebuilders, today announced that James A. Gonzalez has been named vice president of investor relations, reporting to Dom Cecere, the company’s senior vice president and chief financial officer. Clem Teng, who served as KB Home’s director of investor relations, is planning to leave the company to pursue other business interests. |
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| Gonzalez, 41, has garnered extensive corporate finance and investor relations experience working for large organizations throughout his 20-year career. Most recently, he was vice president of corporate development for Sony Pictures Entertainment, where he was responsible for strategic transactions and projects, including the divestitures of Telemundo and Game Show Network, and a studio-wide re-engineering initiative. Prior to that he spent seven years with Hughes Electronics in various finance and investment positions, including senior manager of investor relations. He honed his financial expertise as a portfolio manager and consultant for Berkeley International Capital Corporation, where he actively monitored a $100 million portfolio, guiding investee companies through the IPO process, and successfully implementing financial strategies for technology companies. Gonzalez began his career in sales and marketing at IBM. He holds a BA in Economics from Stanford University and an MBA from Harvard Business School. “Jim’s deep financial knowledge and extensive investor relations experience make him the ideal candidate to lead our investor relations outreach to the next level,” said Cecere. “As KB Home recently completed another year of record-level performance, it is more important than ever to effectively communicate our strategy, success and value as a company to our shareholders, the investment community and Wall Street. I know Jim is up to the task and I look forward to his many contributions in the years ahead.” Cecere added, “Clem has been an important member of the KB Home team over the past two years as he laid a solid foundation for the company’s investor relations outreach. We regret his departure and wish him well in his future endeavors.” About KB Home
KB Home is one of America's largest homebuilders with domestic operating divisions in some of the fastest-growing areas of the country including Arizona, California, Colorado, Florida, Nevada, New Mexico and Texas. Kaufman & Broad S.A., the company's majority-owned subsidiary, is one of the largest homebuilders in France. In fiscal 2002, the company delivered homes to 25,565 families in the United States and France. It also operates 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 888-KB-HOMES or visit kbhome.com. For further information contact:
Debra Hotaling, KB Home
310.231.4015
dhotaling@kbhome.com
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