KAUFMAN AND BROAD MORTGAGE COMPANY NAMES DANA CRUZ SENIOR VICE PRESIDENT, OPERATIONS

LOS ANGELES (July 10, 2000) - Kaufman and Broad Mortgage Company (KB Home Mortgage Company), a subsidiary of Kaufman and Broad Home Corporation (NYSE:KBH), announced today that Dana Cruz has been appointed senior vice president, operations. Cruz's main responsibility will be to drive mortgage processes and procedures to achieve operational excellence.

 
She will be responsible for all operations at KB Home Mortgage Company's three regional operating centers which were established this year to streamline the business while maintaining outstanding customer service. Regional operating centers are located in San Antonio, Las Vegas and Fairfield, California. Each center consists of separate business units dedicated to specific geographic regions of the country and provides customer service, start authorizations and loan status updates as well as coordinating loan closings.

Cruz has more than 25 years of experience in mortgage banking operations, specifically serving homebuilders. Prior to joining Kaufman and Broad, Cruz was with Wells Fargo/Norwest for more than 20 years and was responsible for numerous builder relationships. Most recently, she was responsible for the Forecast Home Mortgage affiliated arrangement between Forecast Homes and Wells Fargo/Norwest.

"With the traditional lending environment undergoing significant transformation, successful companies must be flexible and act quickly to meet their customers' needs," said Mark Crivelli, president of Kaufman and Broad Mortgage Company. "Dana will ensure that our customers receive the same high quality service they have come to expect from Kaufman and Broad while positioning the mortgage company for maximum effectiveness and operational excellence."

The Kaufman and Broad Mortgage Company (KB Home Mortgage Company) is a full-service mortgage provider offering competitive rates and a comprehensive selection of mortgage products. For mortgage pre-qualification, or to get more information about any of Kaufman and Broad's new home communities, call 1-888-KB-HOMES or visit the Company's Web site at www.kbhomes.com.

Kaufman and Broad Home Corporation is one of America's premier homebuilders with operating divisions in Arizona, California, Colorado, Nevada, New Mexico and Texas. Kaufman & Broad S.A., the Company's majority owned subsidiary, is one of the largest homebuilders in France. In 1999, the Company delivered homes to 22,460 families in the United States and in France. It also operates a full service mortgage company for the convenience of its buyers. Founded in 1957, Kaufman and Broad is a Fortune 500 Company listed on the New York Stock Exchange under the ticker symbol "KBH".

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