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Press release from Business Wire

KB Home Significantly Expands Bay Area Presence with Ten New Home Communities

<p class='bwalignc'> <b>New energy-efficient, Built to Order homes in premier locations can also help reduce owners' monthly energy bills</b> </p>

Tuesday, August 23, 2011

KB Home Significantly Expands Bay Area Presence with Ten New Home Communities11:00 EDT Tuesday, August 23, 2011 PLEASANTON, Calif. (Business Wire) -- KB Home (NYSE: KBH), one of the nation's premier homebuilders, today announced the opening of ten new communities of its signature Built to Order™ energy-efficient homes, all located in and around the Bay Area. The communities are located in seven of the Bay Area's most desired submarkets including the cities of Dublin, Fremont, Martinez, Morgan Hill, Petaluma and Walnut Creek. Six of the new communities, offering a wide array of both single family and attached town home designs, are now open, with four additional communities scheduled to open by early autumn. “We're excited to open new KB Home communities in places like Walnut Creek and Petaluma, where we have had limited opportunities in the past and home shoppers' choices for all-new homes are few and far between,” said Chris Apostolopolous, president of KB Home's Northern California division. “It's a void we're happy to fill with our award-winning, energy-efficient Built to Order home designs that deliver a level of quality, value and choice available only at KB Home.” In the last month, KB Home has celebrated the grand opening of Bella Monte in Dublin, Sterling Hills and Stone Ridge at Quarry Heights in Petaluma, Highlands Place in Martinez, Walden Park in Walnut Creek and Mission Ridge in Fremont. Model homes showcasing designs available are open for tours daily at all six communities. Additional communities in Morgan Hill and Santa Clara are planned to open in September. All of the new KB homes built in the Bay Area will be Built to Order, meaning that the homebuyers are in the driver's seat with many facets of the building experience under their control. They select their homesite and floor plan and can customize their new home to suit their needs through structural options, varying exterior styles and finishing design details. All homes will also be both ENERGY STAR® qualified and GreenPoint Rated. This means they have been designed and built to operate more efficiently and help save their owners money on their energy bills, when compared to a typical new or resale home. To better illustrate these benefits 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. To learn more about KB Home's new communities in the Bay Area, visit kbhome.com or call 888-KB-HOMES. About KB Home KB Home is one of the largest and most recognized homebuilding companies in the United States. Since its founding in 1957, the company has built more than half a million quality homes. KB Home's signature Built to Order™ approach lets each buyer customize their new home from lot location to floor plan and design features. In addition to meeting strict ENERGY STAR® guidelines, all KB homes are highly energy efficient to help lower monthly utility costs for homeowners, which the company demonstrates with its proprietary KB Home Energy Performance Guide™ (EPG). A leader in utilizing state-of-the-art sustainable building practices, KB Home was named the #1 Green Homebuilder in a 2010 study by Calvert Investments and the #1 Homebuilder on FORTUNE magazine's 2011 World's Most Admired Companies list. Los Angeles-based KB Home was the first homebuilder listed on the New York Stock Exchange, and trades under the ticker symbol "KBH." For more information about KB Home's new home communities, call 888-KB-HOMES or visit www.kbhome.com. KB HomeCraig LeMessurier, 925-750-6237clemessurier@kbhome.com