Donald R. Horton, Chairman of D.R. Horton, Inc. (NYSE:DHI) said, "We are pleased to welcome Tim Costello as President and CEO of Builder Homesite. He has assembled an excellent management team with extensive experience in Internet start-ups. We believe that under the direction of this management, Builder Homesite will become the leading Internet site for new home listings, as well as a premier location for housing-related products and services. Tim and his team have brought innovative ideas to the new company, and we look forward to participating in the implementation of those ideas."

The five founding partners of Builder Homesite, Inc. were quickly joined by Beazer USA, Inc. (NYSE:BZH), Hovnanian Enterprises, Inc. (NYSE: HOV), MDC Holdings (NYSE:MC), The Ryland Group, Inc. (NYSE:RYL) and Toll Brothers (NYSE:TOL). Builder Homesite, Inc. is actively pursuing and enlisting additional partners and is looking forward to expanding its association with the nation's premier builders.

Said Mr. Costello, "We have an excellent executive team that brings the strategic vision, technology foundation, P&L experience and Internet start-up management expertise needed to ensure success. Without going into detail about our development plans, I can say that we intend to impact the home purchasing, home management and home building experience in a way that will fundamentally change the industry. This is a very exciting time and we are in the enviable position of having the nation's largest homebuilders as our Internet partners. Combining the expertise, experience and wisdom of the leading home builders with the power of the Internet will prove to be one of the most compelling business models on the Web today."

Timothy Costello (41), President and Chief Executive Officer, has more than 20 years experience in operations, technology, and strategic planning processes in consumer-oriented and high technology industries. Tim came to Builder Homesite after seven years with Applied Materials Inc., the world's leading supplier of semiconductor capital equipment, where he was most recently Vice President of Global Operations. Before Applied Materials, Tim spent over 15 years with General Motors Corporation with significant positions in product and strategic planning, manufacturing, product and process engineering and quality. Tim is a recognized international expert on subjects of World-Class Product Development, manufacturing and service systems. Tim Costello graduated from Cornell University with a Bachelors of Science degree in Mechanical Engineering.

Greg Miller (42), Vice President and Chief Financial Officer, has more than 20 years of high-tech industry financial management experience in the U.S., Europe and Asia. Greg joined the company from Pervasive Software, Inc., a leading provider of data management products and services for desktop and Web-based mission-critical business solutions, where he served as Director of Planning. Prior to Pervasive, Greg spent 13 years with Applied Materials, in a variety of executive financial management positions. Greg received his undergraduate degree in Business Accounting, with great distinction, from San Jose State University.

Dr. Gary C. McMahan (40), Vice President and Chief People Officer, has over 17 years of organizational experience in industry and academia. Prior to joining Builder Homesite he was Associate Professor of Management and Advisor to the Master's program in Human Resource Management in the College of Business Administration at the University of Texas at Arlington. Previously, Dr. McMahan was a research professor at the Center for Effective Organizations at the University of Southern California under the guidance of Dr. Edward Lawler III. Prior to his tenure in academe, Gary was employed for 10 years with General Motors Corporation where he served in various managerial roles in materials management, quality and as an internal organization development consultant. Gary received his Bachelor of Science degree from Oakland University, his MBA from the George Washington University in Washington, D.C., and his Ph.D. in Business Administration from Texas A&M University in College Station, Texas.

Krishna K. Murthy (35), Vice President and Chief Information Officer, brings over 11 years of experience in technology management and implementation. Prior to joining Builder Homesite he was the Chief Technology Officer at Rx.com, a technology driven start-up firm engaged in e-commerce in the online pharmacy space. Prior to that he managed technology at MCC, a premier research consortium, Danka Omnifax, an office equipment sales and service company, and an environmental information services company. Krishna has a Master's degree in Industrial Engineering, with specialization in Knowledge Based Systems, from the University of Houston.

Betsy Richter (35), Vice President, Marketing, came to the company from her position as founder/partner in a strategic business development firm called SMARTmedia Sales, Inc. Prior to SMARTmedia, Betsy was National Account Manager for Strategic Telecom, Inc., an interactive smart phone manufacturer with technology deployed throughout 150,000 hotel rooms nationwide, and Product Manager for International Masters Publishers, Inc., the international leader in direct mail continuity programs. Betsy received her undergraduate degree in journalism from the University of Texas at Austin.

Mark Roycroft (41), Vice President, Sales, was most recently VP eCommerce Sales at drkoop.com where he grew an Internet sales and operations team of 17 that produced over 90% of drkoop's website revenue. Mark is a technology industry sales veteran having held vice president, director and management level positions at Acuity Corporation (Austin, TX), Health Systems Design Corporation (Oakland, CA), and Resource Information Management Systems (Naperville, IL). Mark earned his bachelors degree in Business Management and Administration from Bradley University College of Business in Peoria, Illinois.

According to Mr. Costello, staffing of the executive team for Builder Homesite, Inc., based in Austin, Texas, should be completed by October 1, 2000.

For More Information Contact:
Kate Mulhearn
(310) 231-4015
kmulhearn@kbhome.com