KB Home Builds in Top Ten Fastest-Growing Cities in the U.S.

 

Los Angeles (August 12, 2004) – KB Home (NYSE: KBH), one of the nation’s premier homebuilders has a presence in all of the top ten fastest-growing U.S. cities according to a recent Census Bureau report. The report which is based on population estimates from 2000 to 2003.

Gilbert Arizona tops the list with 32.1 percent growth, followed by North Las Vegas with 25.1 percent, Henderson, Nevada with 22.5 percent, Chandler, Arizona with 19.6 percent and Irvine, California with 19.2 percent change.

“We choose to operate only in areas of the country where population and job growth are robust at present and poised to continue for many years to come,” said KB Home Chief Operating Officer, Jeff Mezger. “We strategically identify and select areas for expansion, and clearly want to be in the most dynamic and fastest growing markets in the country. These numbers show that KB Home has been making the proper decisions.”

Fastest-Growing cities (100,000 or more population) from April 1, 2000 – July 1, 2003 According to the U.S. Census Bureau*.

  1. Gilbert, Arizona
  2. North Las Vegas, Nevada
  3. Henderson, Nevada
  4. Chandler, Arizona
  5. Irvine, California
  6. Port St. Lucie, Florida
  7. Rancho Cucamonga, California
  8. Fontana, California
  9. Peoria, Arizona
  10. Cape Coral, Florida

In addition to building communities in each of these fast growing cities, KB Home currently builds in 35 of the top 75 MSAs in the country and expects that number to grow to more than 40 by 2007.

About KB Home
Building homes for nearly half a century, KB Home is one of America's premier homebuilders with domestic operating divisions in some of the fastest- growing regions and states: West Coast -- California; Southwest -- Arizona, Nevada and New Mexico; Central -- Colorado, Illinois, Indiana and Texas; and Southeast -- Florida, Georgia, North Carolina and South Carolina. 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, and winner of the 2004 American Business Award for Best Overall Company, 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 further information contact:
Derrick Hall (310) 231-4142
dmhall@kbhome.com

* U.S. Census Population Estimates for the 25 Fastest Growing U.S. Cities with Populations over 100,000 in 2003: April 1, 2000 to July 2003. The report was released on June 24, 2004.