– Commemorative Wristbands Available at Homebuilder’s Sales Centers; Americans Encouraged to Wear Them ‘Until They’re Home’

KB Home (NYSE: KBH – News), one of the nation’s premier homebuilders, announced today that, as NASA prepares to return to flight this May with the space shuttle Discovery, the company has launched a national promotion in support of America’s space shuttle program. Discovery is scheduled to launch between May 22 and June 3, 2005, from the Kennedy Space Center in Cape Canaveral, Florida.

From May 9 through June 12, the public is invited to visit one of KB Home’s 483 communities nationwide and receive a free commemorative “Discovery 2005” glow-in-the-dark wristband. Visitors to the communities may also enter to win one of three space-themed prizes:

  • Grand Prize: Three-day trip for four to the Kennedy Space Center in Cape Canaveral, Florida. The prize package includes lunch with an astronaut and admission to the Kennedy Space Center. Trip includes airfare, lodging, and ground transportation.

  • Second Prize: Three-day trip to the U.S. Space and Rocket Center in Huntsville, Alabama for Parent and Child Space Camp (ages 7-12). Trip includes airfare, lodging, and ground transportation.

  • Third Prize: A Meade EXT-70AT telescope, ideal for viewing craters on the Moon, asteroids, planets, comets, nebulae, star clusters, galaxies, and other deep space objects. The prize package includes a tripod and carrying case.

“Discovery’s launch is a momentous occasion for the entire country,” said KB Home Chairman and CEO Bruce Karatz. “Homeownership and space flight share an important place in the American dream and our ‘Discovery 2005’ wristbands are a patriotic symbol of unity as we support the Discovery crew and the space program. We are encouraging all Americans to wear them until the crew is home.”

“Discovery” Community Now Open

As an additional way to commemorate Discovery’s forthcoming launch, KB Home opened in April its Discovery Trails community in Palmdale, California, the city where the space shuttle was built and near Edwards Air Force Base, the site of numerous shuttle landings. In keeping with the space flight theme, the community’s streets are named in honor of famous astronauts and American space missions over years, including: Armstrong Drive, Explorer Way, Ranger Court, Gemini Court, Mariner Court, Viking Way and Atlas Way.

Discovery Trails features three models and six floor plans, ranging from 1,680 to 2,959 square feet. The 1- and 2-story homes are offered with 3-6 bedrooms, 2-4 bathrooms and 2-car garages. The Discovery Trails sales office is located at Ave R & 60th Street East in Palmdale, California. The office is open Monday through Thursday from 9:30 a.m. to 5:30 p.m.; Friday from 1 to 5:30 p.m. and Saturday and Sunday from 10 a.m. to 6 p.m. For more information, call 661-236-0071.

For a complete listing of KB Home’s communities where wristbands and contest registration cards are available, visit kbhome.com or call 888-KB-HOMES.

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 publicly-traded subsidiary, is one of the largest homebuilders in France. In fiscal 2004, the Company delivered homes to 31,646 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 http://www.kbhome.com.

Media Contact:

Derrick Hall: 310-231-4142

dmhall@kbhome.com