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Press release from Business Wire

KB Home Expands Its Jacksonville Presence by over 70 Percent in 2013

<p> <b>KB Home's aggressive acquisitions in northeast Florida yield over 900 lots for new Built to Order™ homes</b> </p>

Tuesday, November 05, 2013

KB Home Expands Its Jacksonville Presence by over 70 Percent in 2013

08:00 EST Tuesday, November 05, 2013

JACKSONVILLE, Fla. (Business Wire) -- KB Home (NYSE: KBH), one of the nation's largest and most recognized homebuilders, today announced that it has purchased lots for two new communities in the Jacksonville, Fla. market, Angora Bay in Orange Park and Whitmore Oaks in Mandarin, the latest in a series of significant acquisitions executed by the builder in northeast Florida this year. Including the 178 homesites gained by KB Home in the Angora Bay and Whitmore Oaks transactions, KB Home has increased the number of lots it owns or controls in northeast Florida by over 70 percent from one year ago, accumulating more than 900 lots in popular submarkets like Orange Park, Mandarin and South Duval County in 2013 alone.

KB Home has been building in Jacksonville for over a decade and is already one of the area's most active homebuilders, with 10 KB Home communities currently open for new home sales. Most recently, KB Home debuted its Residences at Wynnfield Lakes community in Jacksonville and Westberry Manor in Mandarin.

“It's been an exciting year for KB Home in Jacksonville, where the region's dynamic economy offers plenty of potential for long-term growth. In 2013, we strategically pursued opportunities to expand our business and uniquely positioned KB Home to meet rising homebuyer demand for new homes,” said Todd Holder, president of KB Home's Jacksonville division. “With the positive momentum we've established in Jacksonville this year, we're looking forward to delivering the American dream of homeownership to many more Floridians well into 2014 and beyond.”

KB Home's Whitmore Oaks community in Mandarin is scheduled to grand open in November, offering single-family homes between 2,003 and 3,555 square feet from the mid $200,000s.

KB Home plans to construct 98 single-family homes at Angora Bay in Orange Park between 1,865 to 3,181 square feet, with pricing anticipated to start in the high $100,000s.

KB Home is distinguished by its Built to Order homebuilding approach that empowers home shoppers with the ability to make a wide array of choices about their home's design. Models at KB Home communities showcase the various components that can be included in a KB home, and KB homebuyers are guided by a personal design consultant at the KB Home Studio to help them build a home that is unique to their style and taste.

KB homes are also some of the most energy-efficient available today, with the potential to significantly lower monthly utility bills that accompany homeownership.

For more information about KB Home in Northeast Florida and elsewhere, visit www.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 Home
Cara Kane, 321-299-6844
ckane@kbhome.com

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