Jeffrey T. Mezger, 44, has been promoted to the newly created position of executive vice president and chief operating officer. Mezger, a 22-year veteran of the building industry, has been a leader in the successful implementation of KB2000, the Company's innovative operational business model. As division president of Phoenix and, most recently, as senior vice president/regional general manager of the southwest division, Mezger's commitment to KB2000 resulted in new levels of operational excellence and performance. In his new position, Mezger will be responsible for overseeing company-wide operations, including national purchasing, architecture, and will continue to oversee the southwest division operations.

Glen W. Barnard, 54, has been named executive vice president of strategy development and president of "E.KB" the company's new e-business division, which oversees the Company's web site, multi-lingual houseCALL Center, showroom and other initiatives to ensure a coordinated e-commerce strategy. Prior to his new appointment, Barnard was senior vice president/regional general manager for the central and northern region and he will retain responsibility for the Northern California and Colorado divisions.

Albert Z. Praw, 51, has been named senior vice president, asset management and acquisitions. Recognized as one of the best land strategists in the industry, Praw will oversee the Company's current efforts to review all of its assets and businesses for the purpose of monetizing non-strategic or marginal positions.

John "Buddy" E. Goodwin, Jr., 52, has been promoted to senior vice president/regional general manager for Texas. During his 22-year association with the Company, Goodwin has demonstrated operational leadership strength, having been involved in every aspect of the Company's operations. Based in San Antonio, most recently Goodwin served as president of Kaufman and Broad of Texas.

"Given our rapid growth, these promotions reflect the depth and strength of our management team as we position the Company for another record year in 2000," said Bruce Karatz, chairman and chief executive officer.

Kaufman and Broad Home Corporation is expected to be the largest homebuilder in the United States in 1999 based on the number of homes delivered. Headquartered in Los Angeles, the Company has operating divisions in California, Nevada, Arizona, New Mexico, Texas and Colorado and is also one of the largest homebuilders in France.

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, material prices, labor costs, interest rates, the secondary market for loans, consumer confidence, competition, currency exchange rates (insofar as they affect the Company's operations in France and Mexico), environmental factors, government regulations affecting the Company's operations, the availability and cost of land in desirable areas, unanticipated violations of Company policy, unanticipated legal proceedings, and conditions in the capital, credit and homebuilding markets (including the historic cyclicality of the homebuilding industry). 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