“Kelly's broad knowledge of capital markets, mergers and acquisitions and investor relations in other organizations uniquely prepares him for the next step at KB Home,” said KB Home Chief Financial Officer Dom Cecere. “His financial knowledge and experience make him the ideal candidate to take this critical area to the next level.

“The arena of investor relations, capital markets and treasury are now under one strategic financial umbrella for KB Home,” added Cecere.

KB Home is one of America's largest homebuilders with domestic operating divisions in some of the fastest-growing areas of the country including Arizona, California, Colorado, Florida, Georgia, Illinois, Nevada, New Mexico, North Carolina, South Carolina and Texas. Kaufman & Broad S.A., the company's majority-owned subsidiary, is one of the largest homebuilders in France. In fiscal 2003, the company delivered homes to 27,331 families in the United States and France. It also operates a full-service mortgage company for the convenience of its buyers. Founded in 1957, KB Home is a Fortune 500 company listed on the New York Stock Exchange under the ticker symbol "KBH." For more information about any of KB Home's new home communities, call 888-KB-HOMES or visit kbhome.com.

For more information, contact:
Kate Mulhearn
(310) 231-4147
kmulhearn@kbhome.com