Los Angeles, CA (May 12, 2004) - KB Home (NYSE: KBH) one of the nation's premier homebuilders, added another honor to its trophy case Monday night, winning the American Business Award (a.k.a. The Stevies™) for Best Overall Company at a ceremony held in New York City. The American Business Awards are the first national, all-encompassing business awards program honoring great performances in the workplace.

"KB Home is honored to receive this prestigious award which recognizes the hard work, dedication and expertise of our entire company," said KB Home Chairman and Chief Executive Officer Bruce Karatz. "Our continued success is the result of the innovative efforts of our employees, who collectively understand and enthusiastically support our mission of building quality homes and relationships, while providing unmatched service and achieving high customer satisfaction. We take great pride in our reputation as being a true leader in the homebuilding industry and appreciate the same acknowledgement throughout the entire business world."

2004 marks the second year KB Home has been honored by the American Business Awards. Last year Wendy Marlett, Sr. Vice President of Marketing, won the Stevie for Best Marketing Executive. This year more than 800 nominations from companies of all sizes and a variety of industries were submitted in consideration for over 40 Stevie award categories.

"Being named Best Overall Company is the highest honor because it recognizes the entire organization," said Michael Gallagher, founder and president of The Stevie Awards, the organization that runs The American Business Awards. "KB Home's diverse product offering, innovative marketing, strong customer service and dedicated employees make it the highly successful company that it is today."

Members of the Awards' Board of Distinguished Judges & Advisors and their staffs selected Stevie winners from among the finalists. The Board includes business luminaries such as Rich Karlgaard, publisher of Forbes, marketing gurus Don Peppers and Martha Rogers, best-selling author and business guru Tom Peters, Anthony Robbins, chairman & CEO of The Anthony Robbins Companies, Drew Schutte, publisher of Wired Magazine, and Donald Trump, chairman, president and CEO of The Trump Organization.

About The Stevie Awards
Hailed as "the business world's own Oscars" by the New York Post (September 22, 2002), Stevie™ Awards are conferred in two programs: The American Business Awards and The International Business Awards. Honoring companies of all types and sizes and the people behind them, the Stevies recognize outstanding leadership, innovation, perseverance, creativity, teamwork, and integrity through more than 40 categories. The second annual American Business Awards – nicknamed The Stevies from the Greek word for "crowned" - were presented at a nationally-broadcast awards ceremony in New York City on May 10, 2004. The program is overseen by a Board of Distinguished Judges & Advisors, which includes leading business executives, authors, and academics. Sponsors of the 2004 American Business Awards include the BusinessTalkRadio Network, Digipict, Hoover's Online, Inc. Magazine, Miller Heiman, the Professional Society for Sales & Marketing Training, Selling Power Magazine, Speedera Networks, Ultimate Software, Webcast in a Box, and Wired Magazine. Learn more about The Stevie Awards at www.stevieawards.com.

About KB Home
Building homes for nearly half a century, 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; Central -- Colorado, Illinois 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 27,331 homes in the United States and France. It also operates KB Home Mortgage Company, 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.