[News Release] – KB Home (NYSE: KBH), one of the nation’s largest and most recognized homebuilders, today announced it has purchased 278 lots in the beautiful Plum Canyon master plan in Santa Clarita for two new communities, Canyon Heights and Canyon Crest, in the sought-after and established neighborhood. With close proximity to the I-5 and 14 freeways, as well as Metrolink access, KB Home’s Plum Canyon communities will provide residents convenient commutes to the area’s major employment centers and the City of Los Angeles. Development is currently underway, with the communities scheduled to open this summer.

“Plum Canyon is the latest example of our strategy to grow our business in Southern California with new communities in the prime locations favored by today’s homebuyers,” said Steve Ruffner, president of KB Home’s Southern California division. “Santa Clarita has one of the strongest job markets in the state, and is an area where we have decades of experience. We have designed our homes at Plum Canyon to appeal to buyers looking for larger homes with the latest in energy and water-efficiency, smart technology and design features. With this substantial land purchase, we expect to be building new homes at Plum Canyon for Southern California residents for years to come.”

Canyon Heights and Canyon Crest will feature hillside lots with views overlooking the thriving Santa Clarita Valley. Existing infrastructure will enable model home construction to commence within the next few months, and new homeowners may move in by year end.

Canyon Heights will offer six one- and two-story floor plans, ranging in size from 1,925 to 3,625 square feet and featuring up to five bedrooms and five baths. Home shoppers at Canyon Crest will have their choice of three two-story floor plans, ranging from 4,048 to 4,517 square feet with as many as six bedrooms and five and a half baths with three-car garages. Prices are anticipated to start from the high $500,000s.

KB homebuyers at Plum Canyon can design their homes to make the most of expansive indoor and outdoor living space. All KB homes at Plum Canyon provide open floor plans with large great rooms for gathering and easy entertaining and flexible space to add a home office or extra bedroom. Available structural and design options include decks and patio covers, large walk-in dual closets in the master bedroom, and first floor junior suites.

Canyon Heights and Canyon Crest at Plum Canyon will offer state-of-the-art technology including solar power as standard plus additional energy- and water-saving components. All homes will be ENERGY STAR(R) certified, and built with WaterSense(R) labeled faucets and fixtures, drought tolerant landscaping, as well as a Wiser(TM) home management system that allows homeowners to monitor and control their home’s energy usage in real-time. These features should enable KB homeowners at Plum Canyon to experience significant savings on their utility bills compared to similar resale homes nearby. Additional energy- and water-efficiency as well as smart technology options are available at the KB Home Design Studio.

The city of Santa Clarita is home to more than 6,000 businesses, has one of the lowest unemployment rates in Los Angeles County, and is ranked a top 20 city for job seekers in California, lessening the need for long commutes. In addition to job proximity, Canyon Heights and Canyon Crest are convenient to abundant shopping, dining and recreational activities in Valencia and the surrounding area. Homeowners at Plum Canyon can take advantage of a new neighborhood recreation center and swimming complex set to open this summer, and will be served by the award-winning Saugus Union School District.

Canyon Heights and Canyon Crest at Plum Canyon will join KB Home’s existing North Los Angeles communities, Charleston at River Village and Ridgeview at Echo Ridge, currently open nearby.

The KB Home sales office at Plum Canyon will be open for information in June with model homes expected to debut this August.

For more information about KB Home in Los Angeles County, visit www.kbhome.com or call 888-KB-HOMES.

About KB Home
KB Home is one of the largest and most recognized homebuilding companies in the United States. Since its founding in 1957, the company has built more than half a million quality homes. KB Home’s signature Built to Order(TM) approach lets each buyer customize their new home from lot location to floor plan and design features. As a leader in utilizing state-of-the-art sustainable building practices, all KB homes are highly energy efficient and meet strict ENERGY STAR(R) guidelines. This helps to lower monthly utility costs for homeowners, which the company demonstrates with its proprietary KB Home Energy Performance Guide(R) (EPG(R)). KB Home has been named by the EPA as an ENERGY STAR Partner of the Year Sustained Excellence Award winner for four straight years and a WaterSense(R) Partner of the Year for three consecutive years. Los Angeles-based KB Home was the first homebuilder listed on the New York Stock Exchange, and trades under the ticker symbol “KBH.” For more information about KB Home’s new home communities, call 888-KB-HOMES or visit www.kbhome.com.