Los Angeles, California, (May 21, 2001) – KB Home (NYSE: KBH), one of the largest homebuilders in the US and France, today announced that recent data released by Forbes Magazine and the Milken Institute confirms the company's long-term strategy of building homes in many of the nation's fastest growing markets. The study identified the 15 "Best Places for Business and Careers," 12 of which are metro areas where KB Home enjoys leading market positions in the homebuilding industry.
"We have long looked at job growth as a leading indicator in determining the markets in which to focus our growth," said Bruce Karatz, Chairman and CEO of KB Home. "This data, as well as the recent government census data, continues to reaffirm our strategy to expand into and become the dominant player in some of the fastest growing markets in the country."
This year's top 15 places in order of ranking are: San Jose, CA; Austin, TX; San Francisco, CA; Boulder, CO; Dallas, TX; Santa Rosa, CA; Boise, ID; San Diego, CA; Phoenix, AZ; Oakland, CA; Sacramento, CA; Orange County, CA; Raleigh-Durham, NC; Las Vegas, NV; and Seattle, WA. KB Home is the #1 builder in Northern and Southern California, Las Vegas and Austin; #2 in Denver (which includes the Boulder market), Dallas/Fort Worth, and Phoenix; and has operations in all other metro areas featured in the study with the exception of Boise, Raleigh-Durham and Seattle.
KB Home is one of America's premier homebuilders with domestic operating divisions in the following regions and states: West Coast -- California; Southwest -- Arizona, Nevada and New Mexico; and Central -- Colorado and Texas. Kaufman & Broad S.A., the Company's majority-owned subsidiary, is one of the largest homebuilders in France. In fiscal 2000, the Company delivered homes to 22,847 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 1-888-KB-HOMES or visit the Company's Web site at www.kbhome.com.
For more information contact:
Kate Mulhearn
310-231-4147
kmulhearn@kbhome.com