Media Only Event: Media Invited to Unveiling of KB Home Hampton Oaks: Homes Created with Martha Stewart Outside of Atlanta

Business Wire, July 18, 2006

WHO:      Bruce Karatz, CEO and Chairman of KB Home (NYSE:KBH) and
          Martha Stewart, founder of Martha Stewart Living Omnimedia,
          Inc. (NYSE:MSLO)


WHAT:     Join Martha Stewart and KB Home CEO and Chairman Bruce
          Karatz for a special unveiling of a new concept in
          homebuilding and design -- KB Home Hampton Oaks: Homes
          Created with Martha Stewart.

          Ms. Stewart and Mr. Karatz will hold a press briefing and
          offer exclusive guided tours to members of the media.


WHY:      KB Home and Martha Stewart Living Omnimedia will unveil
          their second co-branded home community, KB Home Hampton
          Oaks: Homes Created with Martha Stewart. The exterior of the
          homes in the community have characteristics similar to
          Martha Stewart's homes. Martha Stewart's influence is
          evident in nearly every aspect of the homes, including the
          floor plans, exterior, interior and furnishings.

          The community will feature approximately 800 homes spanning
          480 acres, more than one third of which are rolling hills.
          The community will offer homes ranging in size from 1,800
          square feet to 4,600 square feet. Pricing ranges from the
          low 200s to the 400s.


WHEN:     Tuesday, July 25, 2006
          11 a.m. -- Press Briefing and Q&A with Bruce Karatz and
          Martha Stewart.

          Media Check-in begins at 10 a.m. (Light breakfast available)


WHERE:    Hampton Oaks
          7508 Mistydawn Road
          Fairburn, GA 30213


TO RSVP:  This event is for MEDIA ONLY and RSVP is required. To RSVP
          and for directions, please call Lindsay Stephenson at
          310-231-4147 or email at lstephenson@kbhome.com.