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Press release from Business Wire

KB Home Buys 330 Acre Mason Ranch Property in Leander

<p class='bwalignc'> <b>Builder will develop a new master planned community in Williamson County alongside extension of North Lakeline Boulevard to FM 2243</b> </p>

Tuesday, September 11, 2012

KB Home Buys 330 Acre Mason Ranch Property in Leander08:00 EDT Tuesday, September 11, 2012 AUSTIN, Texas (Business Wire) -- KB Home (NYSE:KBH) has acquired Mason Ranch, an attractively positioned 330-acre land asset in Cedar Park/Leander West, one of the most desired submarkets in metropolitan Austin. The builder intends to develop a master planned community on the property with 1,019 homesites. Terms of the purchase agreement were not disclosed. “Mason Ranch will be one of KB Home's premier communities in the Austin metro area. Our vision for this master plan includes various types of our award-winning ENERGY STAR® qualified home designs built on beautiful winding roads through a family-friendly neighborhood,” said Ken Langston, president of KB Home's Central Texas division. “Acquiring this land means we can bring that vision to life and create a vibrant community in a first-rate location with exclusive amenities and direct access to North Lakeline Boulevard.” Langston also cited Leander's recognized public schools, wide variety of retail establishments and proximity to US-183 and US-183A tollway as three additional reasons why the Mason Ranch community is anticipated to be well-received by homebuyers and considered a top development location in the Austin area. KB Home's unique home designs with spacious and flexible floor plans will include features such as large master suite retreats, gourmet kitchen upgrades and rustic stone exteriors. Each new KB home will be Built to Order™, which means homebuyers choose their home site and floor plan, which can then be customized to fit their lifestyle and taste. All finishing touches can be selected at the KB Home Studio, a retail-like design center showcasing choices available for flooring, cabinets, lighting and more. KB Home's building of the Mason Ranch community will coincide with and also support Williamson County's planned extension of North Lakeline Boulevard, a north/south arterial road, from East Crystal Falls Parkway to FM 2243 to improve transportation for area residents. Land development is slated to begin in early 2013, with model homes at Mason Ranch opening later in the year. 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 the most recent 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 KB HomeCathy Teague,