KB HOME'S Q2 CONFERENCE CALL TO BE BROADCAST LIVE ON KBHOME.COM

LOS ANGELES (June 20, 2001) - KB Home (NYSE: KBH) today announced that the Company will release earnings for the second quarter ended May 31, 2001 before the open of the market on Tuesday, June 26, 2001, and will hold its Second Quarter Conference Call at 8:00 a.m. Pacific Daylight Time, 11:00 a.m. Eastern Daylight Time, on Tuesday, June 26. The Conference Call will be webcast live and will be conducted by Bruce Karatz, Chairman and Chief Executive Officer and Thomas Conforti, Senior Vice President and Chief Financial Officer.

 
KB Home will provide presentation slides to coincide with the audio portion of the broadcast.

To listen to the call and access the presentation, go to the investor relations section of the KB Home Web site at www.kbhome.com and select the live web broadcast icon. Listeners must have a multimedia computer with speakers and a RealPlayer plug-in installed. The free software can be downloaded prior to the event through the Conference Call link on www.kbhome.com or by visiting www.realplayer.com. The call will also be available at www.streetevents.com. The Conference Call will be available for immediate replay at the KB Home Web site.

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; and Central -- Colorado and Texas. Kaufman & Broad S.A., the Company's majority-owned subsidiary, is one of the largest homebuilders in France. In fiscal 2000, the Company delivered homes to 22,847 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 1-888-KB-HOMES or visit the Company's Web site at www.kbhome.com.

For more information contact:
Kate Mulhearn
Director, Public Relations
(310) 231-4033 or kmulhearn@kbhome.com