Lennar Prices $350 Million Of Senior Notes

                  Lennar Prices $350 Million Of Senior Notes

PR Newswire

MIAMI, Oct. 18, 2012

MIAMI, Oct. 18, 2012 /PRNewswire/ --Lennar Corporation (NYSE: LEN and LEN.B)
announced that it has agreed to sell $350 million principal amount of its
4.750% Senior Notes due 2022 to initial purchasers, who resold the Senior
Notes to qualified institutional buyers in transactions that are exempt from
the registration requirements of the Securities Act of 1933, as amended, under
SEC Rule 144A or to non-U.S. persons in offshore transactions as that term is
defined in SEC Regulation S. The Senior Notes are expected to be delivered
and paid for on October 23, 2012.

The Senior Notes will mature on November 15, 2022, unless they are redeemed or
repurchased before that date.

Lennar will have the right to redeem the Senior Notes at any time. If Senior
Notes are redeemed more than 90 days prior to their scheduled maturity date,
the redemption price will be the greater of 100% of their principal amount or
the present value of the remaining payments of principal and interest,
discounted at the Treasury Rate plus50 basis points (0.50%). If Senior Notes
are redeemed within 90 days before their scheduled maturity, the redemption
price will be 100% of their principal amount. In either case the redemption
payment will also include accrued but unpaid interest.

Lennar plans to use the net proceeds from the sale of the Senior Notesfor
working capital and general corporate purposes, which may include the
repayment or repurchase of itsoutstandingsenior notes or other
indebtedness.

Neither the Senior Notes nor any guarantees of the Senior Notes have been
registered under the Securities Act of 1933, as amended. The Senior Notes may
not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of that Act.

This press release does not constitute an offer to sell or a solicitation of
an offer to buy the Senior Notes in any jurisdiction in which such an offer or
sale would be unlawful. It is issued pursuant to Rule 135c under the
Securities Act of 1933, as amended.

SOURCE Lennar Corporation

Website: http://www.lennar.com
Contact: Diane Bessette, Vice President and Treasurer, Lennar Corporation,
+1-305-229-6419