KB Home Names Richard Powers President of KB Home Mortgage Company

KB Home , one of the nation's

largest homebuilders, today announced that Richard Powers has been named

president of KB Home Mortgage Company.

(Photo: http://www.newscom.com/cgi-bin/prnh/20040217/LATU123 )

Powers brings over 15 years of mortgage banking operational leadership to KB

Home Mortgage Company. Most recently, he was president and chief executive

officer of Charter One Mortgage Corporation based in Cleveland, Ohio. Prior to

Charter One, Powers was senior vice president of operations and production for

Great Western Mortgage Corporation, where he held leadership roles from 1987

through his departure to Charter One in 1994. Powers holds a Bachelor of Arts

degree from the University of the State of New York, as well as an MBA from the

University of Chicago.

"With his exceptional skill and experience, we are pleased to welcome Richard to

our organization," said Jeff Mezger, chief operating officer of KB Home. "Under

his leadership, we look forward to realizing great results from KB Home Mortgage

as we continue driving current initiatives while focusing on providing

competitive mortgage products and outstanding customer service."

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

areas of the country including Arizona, California, Colorado, Florida, Georgia,

Illinois, Nevada, New Mexico, North Carolina, South Carolina and Texas. 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 further information, please contact Heather Reeves of KB Home,

+1-949-496-4037, .

http://www.newscom.com/cgi-bin/prnh/20040217/LATU123

DATASOURCE: KB Home

CONTACT: Heather Reeves of KB Home, +1-949-496-4037,

Web site: http://www.kbhome.com/

x