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Press release from Business Wire

KB Home & City of Lancaster Partnership Launches Antelope Valley's First Solar Standard Community

<p class='bwalignc'> <b>Joint residential development venture helps homeowners reduce monthly energy bills and the ongoing costs of home ownership</b> </p>

Wednesday, July 06, 2011

KB Home & City of Lancaster Partnership Launches Antelope Valley's First Solar Standard Community14:00 EDT Wednesday, July 06, 2011 LANCASTER, Calif. (Business Wire) -- The City of Lancaster and KB Home (NYSE: KBH) today announced the grand opening of an affordably priced new solar home community in Lancaster, California. KB Home's Arroyo community is the first in the Antelope Valley to offer solar power systems as a standard feature on all new homes. During the grand opening event held today, the two partners unveiled this unique community that represents a giant step forward in the advancement of affordable solar technology for homeowners. For its part, the City of Lancaster has long recognized the important role government can play in helping the environment. The advancement and research of solar and other similar technologies continues to be a priority for the City, as it works with companies like KB Home to drive innovation and enhance the lives of those who live in the community. In support of these goals, the City of Lancaster agreed to waive certain municipal development fees for the project and fast-tracked it through the approval process. ”We are continuing to develop innovative solutions with KB Home. This private-public partnership is an example of what local governments throughout the nation should be doing in order to resuscitate their housing markets. We know we simply cannot sit back and wait for others to ‘fix' the economy,” said City of Lancaster Mayor R. Rex Parris. The opening of Arroyo is part of KB Home's recently announced initiative to provide solar power systems as a standard feature for new homes in 11 of its Southern California communities. “We believe that our continued partnership with the City of Lancaster has been extremely beneficial in advancing the use of emerging solar technology,” said Steve Ruffner, president of KB Home's Southern California division. “The abundance of clear sunny days makes Lancaster the perfect place to own one of KB Home's new solar homes. In addition to lessening a homeowner's impact on the environment, the standard solar system may cut a homeowner's energy costs by more than half.” To illustrate this benefit to consumers, KB Home now includes its Energy Performance Guide™ (EPG), an estimate of monthly electric and/or gas costs for each home as designed as well as valuable information on the home's relative energy efficiency when compared to a typical new home or resale home. For example, at KB Home's Arroyo, a single-story three to four bedroom home as designed with the standard 1.35 kW system included has an estimated energy bill of $94 per month. Homebuyers can also choose to enhance the home's solar capacity by upgrading to one of three additional systems. Homebuyers could reduce their energy bill to as little as $46 per month if they choose a 3.15kW system. In comparison, according to the 2008 American Community Survey, a study performed by U.S. Census Bureau, Lancaster residents reported spending, on average, about $210 a month on gas and electric bills. The gorgeous ranch style homes, situated on ½ acre homesites, provide great room living and include up to five bedrooms, three bathrooms and three-car garages. Homebuyers have their choice of six single story floorplans ranging in size from 1,837 to 3,037 square feet. Pricing begin from the low $200,000s. About KB Home KB Home (NYSE: KBH), one of the nation's premier homebuilders, has delivered over half a million quality homes for families since its founding in 1957. The Los Angeles-based company is distinguished by its Built to Order™ homebuilding approach that puts a custom home experience within reach of its customers at an affordable price. KB Home has been named the #1 Green Homebuilder in a study by Calvert Investments and the #1 Homebuilder on FORTUNE magazine's 2011 World's Most Admired Companies list. The Company trades under the ticker symbol "KBH" and was the first homebuilder listed on the New York Stock Exchange. For more information about any of KB Home's new home communities, call 888-KB-HOMES or visit www.kbhome.com. About the City of Lancaster The City of Lancaster is a thriving community of more than 156,000 in northern Los Angeles County. Clean air, attainable housing, wide open spaces, and a close-knit community make Lancaster the ideal place for families. A low cost of doing business, endless potential for growth, and a strong commitment to business from local leaders has earned Lancaster the Eddy Award for "Most Business-Friendly City" in Los Angeles County from the Los Angeles County Economic Development Corporation. In addition, Lancaster boasts more than 300 days of sunshine per year, making it the ideal place to pioneer new solar energy technologies. No matter how you look at it, it's positively clear that Lancaster is the perfect place to live, work and play! City of LancasterJoseph Cabral, 661-723-6053jcabral@cityoflancasterca.orgorKB HomeCraig LeMessurier, 925-750-6237clemessurier@kbhome.com