KB Home Declares Quarterly Dividend

The board of directors of KB
Home (NYSE: KBH) has declared a quarterly cash dividend of eighteen and three-
quarters cents ($.1875) per share on the company's common stock, payable on
November 23, 2005 to shareholders of record on November 9, 2005.

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, Maryland, North Carolina, South Carolina and
Virginia. Kaufman & Broad S.A., the Company's publicly-traded French
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.
KB Home also offers complete mortgage services through Countrywide KB Home
Loans, a joint venture with Countrywide Financial Corporation. 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.

For further information contact:
Kelly Masuda, (310) 893-7434 or
kmasuda@kbhome.com

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