KB HOME NAMES CLEMENTE TENG DIRECTOR, INVESTOR RELATIONS

Los Angeles, California, (May 10, 2001) – KB Home (NYSE: KBH), one of the largest homebuilders in the United States and France, today announced that it has named Clemente Teng Director of Investor Relations, reporting to Tom Conforti, the company’s Chief Financial Officer.

 
Teng, 49, has more than 20 years of experience in the financial and investor relations arenas. For ten years he served as Director of Investor Relations at Sempra Energy, a $7 billion Fortune 500 company, and Pacific Enterprises, a predecessor to Sempra. Most recently he was Vice President of Investor Relations at eToys, Inc. Teng began his career at Arthur Anderson Consulting, and spent the next ten years involved in various M&A and financial reporting activities for Pacific Enterprises and other oil and gas companies. He holds a B.S. in Electrical Engineering and an M.B.A. from the University of Southern California. He is also a Certified Public Accountant.

“We are delighted to have someone of Clem’s caliber and expertise join the KB Home team,” said Bruce Karatz, Chairman and CEO of KB Home. “His extensive finance and investor relations experience across a variety of industries, combined with his intimate knowledge of the investment community, make Clem the ideal candidate to lead KB Home’s investor relations outreach.”

“Clem has an outstanding and diverse background from which to draw upon in his new role,” added Tom Conforti. “We look forward to his many contributions in the years ahead.”

KB Home is one of America's premier homebuilders with domestic operating divisions in the following regions and states: West Coast -- California; Southwest -- Arizona, Nevada and New Mexico; and Central -- Colorado and Texas. Kaufman & Broad S.A., the Company's majority-owned subsidiary, is one of the largest homebuilders in France. In fiscal 2000, the Company delivered homes to 22,847 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 1-888-KB-HOMES or visit the Company's Web site at www.kbhome.com.

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