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Press release from Business Wire

KB Home Acquires Land in Danville, California

<p class='bwalignc'> <b>Builder Announces Plans for Quail Ridge, a Hillside Community of Built to Order New Homes in the Bay Area</b> </p>

Wednesday, July 18, 2012

KB Home Acquires Land in Danville, California08:00 EDT Wednesday, July 18, 2012 DANVILLE, Calif. (Business Wire) -- KB Home (NYSE: KBH), one of the nation's premier homebuilders, today announced that it has acquired land within the Elworthy Ranch property in the town of Danville.Development of the site will begin in the coming months, with an anticipated groundbreaking on new model homes before the end of the year. KB Home plans to construct 84 Built to Order™ single-family homes in the new community, Quail Ridge. “We are pleased to have the opportunity to once again offer KB Home's signature Built to Order home designs in one of the Bay Area's most sought-after submarkets,” said Chris Apostolopoulos, president of KB Home's Bay Area division. “Danville is an incredibly scenic and thriving community, and we are proud to add Quail Ridge to our line-up of new home communities in the East Bay.” KB Home's new acquisition, situated on the Las Trampas Ridge overlooking the San Ramon Valley, is adjacent to 179 acres of open space in the Elworthy Ranch property. Trails through this space from KB Home's Quail Ridge community are planned to link to the existing network of East Bay Regional Park District trails for residents' enjoyment. Homebuyers will also be able to enjoy Danville's picturesque downtown with a variety of shops and restaurants as well as easy access to Bay Area cities via Bay Area Rapid Transit. Additionally, public schools in Danville are among the highest rated in the state. Home designs available at KB Home's Quail Ridge will include up to four bedrooms and three baths. The two-story floor plans will range in size from approximately 1,700 to 2,200 square feet. Each new KB home will be Built to Order, meaning homebuyers will choose their home site and floor plan, which can then be customized to fit their lifestyle and taste. Options include various exterior design styles, as well as adjusting structural features, such as converting multipurpose spaces to additional bedrooms, or adding a covered patio to enhance outdoor living spaces. Buyers then get to select finishing touches at the KB Home Studio, a retail-like design center showcasing choices available for flooring, cabinets, lighting and more. All new KB homes in the Bay Area, including those that will be built at Quail Ridge, are ENERGY STAR® qualified, GreenPoint Rated and come with the builder's proprietary Energy Performance Guide® (EPG®). Similar to the miles per gallon rating or MPG, which reflects fuel efficiency and is standard when purchasing a new car, the KB Home EPG provides buyers with an estimate of monthly energy costs for the home as designed, as well as an estimate of monthly energy cost savings when compared to a typical resale home. Model home construction at Quail Ridge is planned to start later this year. For more information and to join an interest list, 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 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 www.kbhome.com. KB HomeCraig LeMessurier925-750-6237 or clemessurier@kbhome.com