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KB Home to Open New Community in Georgetown

  KB Home to Open New Community in Georgetown

Recent acquisition further expands builder’s Austin area presence

Business Wire

AUSTIN, Texas -- February 5, 2013

KB Home (NYSE: KBH), one of the nation’s largest and most recognized
homebuilders, today announced that it has acquired 56 acres in the existing
master-plan development of Georgetown Village located just west of downtown
Georgetown, Texas and Interstate 35. KB Home’s new community, the last phase
of a 750 unit subdivision, will include 184 home sites. Model home
construction and land development is expected to begin in the spring.

“Georgetown Village is a beautiful Hill County neighborhood with mature live
oak trees and a desirable location just west of IH-35, making for an easy
commute to many of the area’s major employers, and convenient for military
families at Fort Hood,” said Ken Langston, president of KB Home’s Central
Texas division. “With the community’s great location and KB Home’s experience
in building quality, energy-efficient homes, we anticipate this phase of
Georgetown Village will be well-received by homebuyers in the Austin area.”

“Georgetown Village is especially attractive because of its on-site,
highly-rated elementary school and its neighborhood amenities, such as hiking
trails, pools and parks,” Langston continued.

KB Home’s purchase in Georgetown Village comes shortly after the builder
announced plans for additional new communities in both Leander and Hutto. KB
Home currently offers new homes at more than 20 new home communities in the
Austin area, including two in Georgetown – University Park and La Conterra.

“We’ve built in Austin for over 15 years,” Langston said, “and we look forward
to delivering many new Built to Order homes to happy homeowners here for years
to come.”

Built to Order is KB Home’s signature homebuying experience, during which
customers choose their home’s lot location, its floor plan and many of its
interior and exterior design features before construction begins.

The fifteen one- and two-story floor plans that will be offered at Georgetown
Village range in size from approximately 1,600 square feet to more than 3,100
square feet with up to four bedrooms and two-and-a-half baths. Like all KB
homes, the homes built at Georgetown Village will be ENERGY STAR® certified,
which may help homeowners save money on their utility bills when compared to
other new or resale homes.

To find out more about KB Home’s Georgetown Village, and other KB Home
communities in Austin, 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.

Contact:

KB Home
Cathy Teague
210-415-6670
cteague@kbhome.com