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First Call Mean Estimates

Fiscal Year Ending: Nov - Last Changed: 10/21/09

YR Ending	Q1 Feb	Q2 May	Q3 Aug	Q4 Nov	FISC YR Annual	NUM Brokers (FISC)	CAL YR Annual	NUM Brokers (CAL)
2013					1.35	1	1.35	1
2012					0.95	1	0.95	1
2011	0.00	0.20	0.07		0.64	5	0.64	5
2010	-0.47	-0.26	-0.09	0.06	-0.75	15	-0.75	15
2009	-0.98A	-0.76A	-0.97A	-0.47	-3.11	16	-3.11	16
2008	-0.56A	-0.76A	-0.56A	-5.12A	-7.00	16	-7.00	16
2007	0.43A	-1.55A	-3.25A	-7.92A	-12.31	13	-12.31	13
2006	1.58A	2.00A	1.30A	-1.24A	3.69	14	3.69	13
2005	1.17A	1.55A	2.06A	3.54A	8.32	12	8.32	12
2004	0.84A	1.22A	1.36A	2.29A	5.71	15	5.71	15
2003	0.69A	1.03A	1.22A	1.69A	4.62	12	4.62	12

Mean Recommendation: 2.4

Mean Future 5 Year Growth Rate: 6

Disclaimer: Mean Earnings Estimates are calculated by First Call based on the earnings projections made by the analysts who cover Lennar Corporation. Please note that any opinions, estimates or forecasts regarding Lennar Corporation's performance made by these analysts (and therefore the Mean estimate numbers) are theirs alone and do not represent opinions, forecasts or predictions of Lennar Corporation or its management. Lennar Corporation does not by its reference above or distribution imply its endorsement of or concurrence with such information, conclusions or recommendations.

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Marshall Ames
Vice President, Lennar Corp.
700 N.W. 107th Avenue
Miami, Florida 33172
Phone: 1-800-741-4663
Fax: 305-228-8383
Email: marshall.ames@lennar.com

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P.O. Box 43078
Providence, RI 02940
Phone: 781-575-2879
www.computershare.com

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