KB Home (NYSE: KBH), one of the nation’s largest and most recognized homebuilders, today announced that the Company has increased by approximately $5 million the maximum amount for its previously announced cash tender offers for its 5⅞% Senior Notes due 2015 and 6¼% Senior Notes due 2015 (together, the “2015 Notes”). As a result, KB Home will accept all validly tendered 2015 Notes without proration. The tender offers for the 2015 Notes and the tender offer to purchase any and all of KB Home’s 5¾% Senior Notes due 2014 (the “2014 Notes”) were made pursuant to an Offer to Purchase dated July 11, 2012 and a related Letter of Transmittal, each as amended by a press release issued on July 24, 2012, which set forth a more detailed description of the terms of the tender offers. As of 11:59 p.m., New York City time, on August 7, 2012, the aggregate principal amount of the 2014 Notes tendered was $117.7 million, the aggregate principal amount of the 5⅞% Senior Notes due 2015 tendered was $67.8 million, and the aggregate principal amount of the 6¼% Senior Notes due 2015 tendered was $59.4 million. KB Home accepted for purchase all of the tendered 2014 Notes and 2015 Notes, with settlement expected today. As previously announced, KB Home intends to apply a portion of the net proceeds from its public offering of $350 million in aggregate principal amount of 7.5% Senior Notes due 2022, which closed on July 31, 2012, toward the payment of accepted 2014 Notes and 2015 Notes. Holders whose 2014 Notes have been accepted for purchase will receive $1,040 per $1,000 principal amount of notes. Holders whose 2015 Notes have been accepted for purchase and who tendered at or prior to the “Early Tender Date” of 5:00 p.m., New York City time, on July 23, 2012, will receive $1,020 per $1,000 principal amount of notes, which includes the Early Tender Premium of $30 per $1,000 principal amount. Holders whose 2015 Notes have been accepted for purchase and who tendered after the Early Tender Date will receive $990 per $1,000 principal amount of notes.