“The single biggest obstacle many people encounter in trying to buy a home of their own is saving for a down payment,” said Wendy Marlett, senior vice president of marketing for KB Home. “We’ll be helping one individual or family clear that hurdle by allowing them to pocket money they would have had to use for rent or mortgage payments.”

Noting that the Internet has become an invaluable resource for new-home shoppers, Marlett said the sweepstakes is a way of reaching hundreds of thousands of prospective first-time and first move-up homebuyers—the company’s target consumers. “Our website provides a library of tools useful to anyone interested to learn about how much house they can afford,” she noted. KB Home is promoting the contest through its website and sales offices, as well as via Internet banner ads and partner sites, including newhomesource.com.

About KB Home
KB Home is one of America's largest homebuilders with domestic operating divisions in some of the fastest-growing areas of the country including: West Coast—California; Southwest—Arizona, Nevada and New Mexico; and Central—Colorado, Florida and Texas. Kaufman & Broad S.A., the Company's majority-owned subsidiary, is one of the largest homebuilders in France. In fiscal 2001, the Company delivered homes to 24,868 families in the United States and France. It also operates 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 888-KB-HOMES or visit the Company's Web site at kbhome.com.

For further information contact:
Kate Mulhearn
(310) 231-4147
Kmulhearn@kbhome.com