KB HOME

Jeffrey T. Mezger serves as President, Chief Executive Officer and a Director of the Board of KB Home, one of the nation's largest homebuilders. As the son of a homebuilder, Mezger's experience runs even deeper than the 30+ years he has spent as an executive in the industry. His passion for the homebuilding business and well-known focus on the customer can be traced back to his early years working side-by-side with his father to build homes for customers one at a time. Today, Mezger still adheres to a philosophy of providing personalized service and home design to each and every KB Home homebuyer across the country. KB Home's Built to Order approach to homebuilding gives customers an unprecedented level of choice in building their new homes – from the layout of the floor plan to selecting among the 5,000 design options at KB Home Studios. Based on the Company's KBnxt operating model, data on customer preferences and market opportunities drive product offerings and land strategy, while economies of scale and operational efficiencies ensure the lowest possible cost to the buyer. In fact, KB Home has been providing high-quality and well-priced homes to families for more than 50 years. Mezger brings a strong emphasis on operational excellence to KB Home's well-known reputation for innovation in finding new ways to reach and serve its customers. Recognizing that the vast majority of its homebuyers were families with children, KB Home formed a unique collaboration with the ultimate family brand, Disney, to offer exclusive Disney Home products to KB Home homebuyers. KB Home's groundbreaking collaboration with Martha Stewart to bring co-branded communities designed by the home style icon to homebuyers across the country is unmatched in the industry. And the Company's joint venture with Countrywide Financial brought the services of the nation's leading mortgage lender directly to KB Home homebuyers in a seamless process. In addition to their numerous benefits for homebuyers, these high profile partnerships have ensured KB Home's long-standing position as the most recognized brand in homebuilding. Prior to being appointed President and CEO in 2006, Mezger served as Executive Vice President and Chief Operating Officer of KB Home since 1999. In this role, Mezger was responsible for all U.S. homebuilding operations. From 2001 to 2004, he directed an aggressive diversification and acquisition strategy that doubled the number of the Company's major markets and expanded operations from coast-to-coast. In fiscal 2006, KB Home revenues reached $11 billion as the Company delivered homes in 40 markets. Mezger joined KB Home in 1993 as President of the Company's Antelope Valley, California division and was quickly distinguished for his operational expertise. He was later named Senior Vice President and Regional General Manager of the Company's Southwest region, overseeing all Nevada and Arizona operations, including the integration of Lewis Homes, the largest privately-held builder in the U.S. Prior to joining KB Home, Mezger spent 15 years with U.S. Home, rising to the position of President of the company's Central California division. A recognized opinion leader in the homebuilding industry, Mezger holds a seat on the executive board of the USC Lusk Center for Real Estate and is on the Policy Advisory Board for the Harvard Joint Center for Housing Studies. He is also a member of the NAHB High Production Builders Council and has served as an officer on numerous boards of the NAHB. A native of Chicago, Mezger graduated from DePauw University in 1977 with a Bachelor of Arts degree in Economics.

Melissa Lora is the Chief Financial Officer of Taco Bell Corp., a position that she has held since 2001. Ms. Lora joined Taco Bell Corp. in 1987 and has held various positions throughout the company, most recently acting as Region Vice President and General Manager from 1998 to 2000 for Taco Bell's operations throughout the Northeastern United States. Ms. Lora has served on the Board since 2004.

Albert Z. Praw, 51, has been named senior vice president, asset management and acquisitions. Recognized as one of the best land strategists in the industry, Praw will oversee the Company's current efforts to review all of its assets and businesses for the purpose of monetizing non-strategic or marginal positions.

Cory F. Cohen is Senior Vice President of Tax at KB Home. Cohen has overall responsibility for all tax planning and compliance matters. He has accomplished numerous transactions that have been instrumental in lowering the Company's effective tax rate. Cohen has played a key role in the Company's major transactions, including tax-free spin-off, French IPO and several corporate acquisitions. His responsibilities include managing the Company 401 (k) Plan. Cohen originally established the Company's tax department and has transformed the department into a profit center. Cohen joined KB Home in 1988 and served as Director of Tax until 1991 when he was promoted to Vice President of Tax. He was also Senior Vice President of Kaufman and Broad's Mortgage Company in Woodland Hills, California. Prior to joining KB Home, Cohen was Tax Manager at Roth, Bookstein and Zaslow and Tax Director at The Casden Company, Coast-Fed Properties. Cohen spent more than five years at Arthur Andersen and Company. Cohen is a Certified Public Accountant in the state of California. Cohen has a Bachelor of Arts degree in Economics from the University of California Los Angeles.

Kelly Masuda is Senior Vice President and Treasurer for KB Home. Masuda manages the company's investor relations activities in addition to being responsible for corporate-wide banking and financing activities, including bank facilities, capital market transactions and project financings. Masuda oversees company relationships with investors, commercial and investment bankers and rating agencies. Prior to joining KB Home, Masuda spent nine years in the investment banking industry with Donaldson, Lufkin & Jenrette Securities Corporation and Credit Suisse First Boston Corporation. As an investment banker, he covered a wide range of financial products and services including private and public equity capital, high yield debt and mergers and acquisitions. Masuda also serves on the Board of Trustees of the Children's Bureau of Southern California, a non-profit organization dedicated to the prevention of child abuse. Masuda received a Bachelor's of Arts degree with high honors in Neurobiology from the University of California, Berkeley and an MBA with honors from Columbia University's Graduate School of Business.

Lisa M. Kalmbach is Senior Vice President with oversight of the company's KB Home Studio, a retail outlet for the sale of homes and home options. Working with retail designers, Kalmbach created a way for KB Home to maximize financial performance by treating the homebuying process as a retail experience, using the psychology of sales to change the way consumers purchase and personalize a new home. This approach ensures that consumers benefit from an improved overall home-shopping experience. She is also responsible for the company's new sustainability efforts as well as driving implementation of the new "My Home, My Earth" program. "My Home, My Earth is a program that introduces new earth friendly products to the consumer and educates homebuyers on making choices that will reduce their impact on the environment. Prior to her current position, Kalmbach held various operations positions within the company, including Regional General Manager of KB Home's Northern California division, with responsibility for delivering approximately 3,000 homes annually. She has held titles such as President, Vice President of Sales and Marketing and served as the company's Marketing Director from 1986 to 1988. Kalmbach joined KB Home in 1983 in the corporate marketing department. She earned her Bachelor of Science degree in Social Ecology from the University of California, Irvine.

Wendy Marlett is Senior Vice President, Sales, Marketing and Communications for KB Home. She is responsible for sales, advertising, marketing, communications and consumer e-business across the Company's operating divisions nationwide. As the driving force behind the re-branding of the Company as KB Home in 2001, Marlett is credited with establishing and maintaining KB Home's position as the most recognized brand in homebuilding. She also launched the industry's first full-service in-house advertising agency, kb|agency, which develops and produces all advertising for the Company. Marlett leads the Company's high-profile partnership with Martha Stewart Living Omnimedia to design and build signature Martha Stewart homes in communities across the country. She also orchestrated KB Home's industry-first collaboration with the ultimate global family brand, Disney, to offer Disney Home products to KB Home homebuyers. Under Marlett's guidance, the Company has become known for its groundbreaking promotions, including building a life-size Simpson's House in Las Vegas; a six-week promotion with ABC's leading daytime show "LIVE with Regis and Kelly" to build a single-family home in the heart of Manhattan and give it away on national television; and building a brand-new home in seven days in one of the most-watched episodes of ABC's " Extreme Makeover: Home Edition." Leading KB Home's companywide sales function, she works with regional and divisional sales leadership on the implementation of sales strategies, programs and tools that ensure every operating division continues to maximize its potential contribution to the Company's bottom-line results while maintaining KB Home's strong customer satisfaction ratings. Prior to being appointed to her current position, Marlett was Senior Vice President of Sales and Marketing for the Company since 2005, Senior Vice President of Marketing and Communications since 2002, and Vice President of Advertising since 1995. Before joining KB Home, Marlett held key marketing and public relations positions in the aerospace and health care industries. Marlett is a Los Angeles native and received her Bachelor of Arts in Journalism from California State University in Long Beach.

Glen Barnard brings more than 20 years of homebuilding experience to his role as Senior Vice President of KBnxt Group. His expertise in the homebuilding industry aids him in leading numerous KB Home corporate departments including architecture, national training, KB Home Studio, national purchasing, market strategy and the financial services group. Barnard also serves on the KB Home corporate land acquisition committee. Barnard previously served as Regional General Manager of KB Home's central region overseeing the Colorado, Illinois, Indiana, Mid-Atlantic, New Mexico and the Southeast divisions. He actively participated in the divisions' operations. Prior to being Regional General Manager of KB Home, Barnard was the first Chief Executive Officer of Constellation Real Technologies, a consortium of large real estate investment trusts. The consortium sourced and evaluated software solutions to enhance financial performance of real estate assets and operations, among other business activities. Barnard originally joined KB Home in 1996 and served in various capacities for Kaufman and Broad, which became KB Home in 2001, including Senior Vice President and Regional General Manager. He also held the Division President position of the Colorado division. Barnard was Chairman of American Lives, Inc., a market research and consulting firm he co-founded in 1991 to provide primary consumer market research to clients in the building and high technology industries. Barnard holds an M.B.A. degree from the University of Indiana and a Bachelor of Science degree in Accounting from the University of Kansas.

Kenneth M. Jastrow, II is Non-Executive Chairman, Forestar Group Inc. He served as Chairman and Chief Executive Officer of Temple-Inland Inc. from 2000 to 2007. Prior to that, Mr. Jastrow served as President and Chief Operating Officer in 1998 and 1999, Group Vice President from 1995 until 1998, and as Chief Financial Officer of Temple-Inland from November 1991 until 1999. Mr. Jastrow is also a director of MGIC Investment Corporation. He joined KB Home's Board in December 2001.

John "Buddy" E. Goodwin, Jr., 52, has been promoted to senior vice president/regional general manager for Texas. During his 22-year association with the Company, Goodwin has demonstrated operational leadership strength, having been involved in every aspect of the Company's operations. Based in San Antonio, most recently Goodwin served as president of Kaufman and Broad of Texas.

William Hollinger is Senior Vice President and Chief Accounting Officer of KB Home. Hollinger has been a key member of the company's management team for nearly two decades. In his current role, Hollinger has oversight responsibility for the accounting and financial functions of the entire company, including all of its domestic and international operating subsidiaries, and directs the company's financial management consolidating reporting efforts. He also leads the companywide business planning process and is responsible for developing and implementing initiatives to strengthen financial performance. Throughout his career with KB Home, Hollinger has played an important role in the company's major transactions, including its tax-free spin-off, several public debt and equity offerings, various acquisitions and the initial public offering of KB Home's French subsidiary. He has also been instrumental in positioning the company's financial structure to support its unprecedented expansion. In addition, Hollinger has served in a supportive capacity for the investor relations and treasury functions. Hollinger joined KB Home in 1987, immediately after the company's initial public offering, as Manager of Controls Evaluation and Audit. In this role, he established the internal audit department and created an audit reporting system for making recommendations to management and KB Home's Board of Directors to enhance operational efficiency and tighten internal accounting controls. Prior to joining KB Home, Hollinger spent five years as an Auditor in the Los Angeles office of PricewaterhouseCoopers. Hollinger graduated Summa Cum Laude from California State University, Northridge with a Bachelor of Science degree in Business Administration with a double major in Accounting and Finance. He is a Certified Public Accountant and member of the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants.

Mr. Johnson, age 65, has been a Vice Chairman of Perseus, L.L.C., a merchant banking and private equity firm, since April 2001. From January 2000 to March 2001, he served as Chairman and Chief Executive Officer of Johnson Capital Partners, a private investment company. From January through December 1999, he was Chairman of the Executive Committee of Fannie Mae, having previously served as its Chairman and Chief Executive Officer from February 1991 through December 1998 and its Vice Chairman from 1990 through February 1991. Mr. Johnson is on the boards of the following public companies in addition to Goldman Sachs: Forestar Real Estate Group, Inc. and Target Corporation. In addition, he is affiliated with certain non-profit organizations, including as Chairman Emeritus of the John F. Kennedy Center for the Performing Arts, as a member of each of the American Academy of Arts and Sciences, the American Friends of Bilderberg, the Council on Foreign Relations and The Trilateral Commission, and as an honorary trustee of The Brookings Institution.

John A. Coleman was elected to the Board of Directors of the East Bay Municipal Utility District in 1990 and was re-elected in 1994, 1998, and 2002, representing Ward 2, which includes the communities of Alamo, Lafayette, and the Town of Danville, and portions of Pleasant Hill, San Ramon, and Walnut Creek. From 1996 to 2000, he served as President of EBMUD's Board of Directors. Coleman is a past president of the board of the California Association of Sanitation Agencies and is past president of DERWA, the joint powers authority for recycled water service provided by EBMUD and the Dublin-San Ramon Services District. He currently chairs the Upper Mokelumne River Watershed Authority and the ACWA Water Environment Subcommittee and is the past chair of the Freeport Regional Water Authority. He also serves on the boards of the Contra Costa Council, the WateReuse Association, and the East Bay Leadership Foundation. He serves on ABAG's CALFED Task Force and chairs its Water and Land Use Subcommittee. He is a member of the National Endangered Species Act Reform Coalition of the Association of California Water Agencies and serves on the executive committee of the Contra Costa Housing Trust Fund. Coleman served Governors Wilson and Davis as Deputy Director of External Affairs for the California Conservation Corps. As Director of Local Government and Community Affairs for KB Home, he is responsible for the greater Bay Area. Long active in the community, Coleman is past president of the Lafayette Chamber of Commerce, former board member of the National Association of Service and Conservation Corps, and former member of the California Biodiversity Council. An Eagle Scout, he is Scoutmaster of Troop 243 in Lafayette. Coleman holds a Bachelor of Sciences in Natural Resources from the University of California, Berkeley, and a certificate in management from the University of the Pacific School of Business and Public Administration. He currently resides in Walnut Creek with his wife Lonna and two daughters and grows grapes for making wine.

Michael G. McCaffery, age 53, is the Chief Executive Officer of Makena Capital Management. From 2000 to 2006, Mr. McCaffery was President and CEO of the Stanford Management Company (SMC), which was established in 1991 to manage Stanford University's financial and real estate investments. Previous to joining SMC, Mr. McCaffery was President and Chief Executive Officer of Robertson Stephens Investment Bankers from January 1993 to December 1999, and also served as Chairman from January 2000 to December 2000. Mr. McCaffery is a director of the Lucile Salter Packard Children's Hospital, Thomas Weisel Partners Group, Inc., Western Technology Ventures, Savvian, LLC and RS Investment Trust, and is a member of the Advisory Boards of Accel Ventures, Silver Lake Partners and Stanford University's Graduate School of Business. Mr. McCaffery was elected to the Board of Directors in 2003, and his current term expires in 2009.