First Martha Stewart-Designed Homes to Be Built in the Town of Cary, N.C.LOS ANGELES and NEW YORK, Oct 12, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- KB Home
(NYSE: KBH) and Martha Stewart Living Omnimedia, Inc. (NYSE: MSO) announced
today a groundbreaking collaboration on the design of new homes, bringing
together the high-quality and innovative architectural designs of one of the
country's leading homebuilders with the inspiration of the leading provider of
ideas and products for both inside and outside the home.
The first community designed by KB Home and Martha Stewart Living
Omnimedia (MSLO) -- to be called KB Home Twin Lakes: Homes Created with Martha
Stewart -- will feature approximately 650 homes in the Town of Cary, N.C. The
community will include single-family homes, ranging from 1,500 to 4,100 square
feet and priced from the low $200s to the mid $400s, inspired by Martha
Stewart's own homes in New York and Maine. Martha Stewart's influence will be
evident in many aspects of the homes, including the floor plans, exterior
design, interior floor plans and furnishings. Homebuyers will have the added
advantage of choosing Martha Stewart's favorites among the flooring, faucets,
light fixtures, cabinetry, countertops, and other items available at the KB
Home Studio in Raleigh, N.C. Each home will combine beauty, quality and
functionality, backed by KB Home's superior customer service and warranties.
"KB Home and Martha Stewart are names that stand for superior quality and
style," said KB Home Chairman and CEO Bruce Karatz. "By collaborating with
Martha Stewart, an icon of design, we will be able to offer our customers the
opportunity to own a dream home inspired by Martha herself, built and backed
by KB Home's team of talented employees. KB Home is thrilled to bring these
unique homes to the Town of Cary. We hope to expand these new home designs
across the country in years to come."
"After years of designing high-quality and stylish products for the home,
it is the right time for MSLO to turn to the architecture and design of the
home itself," said Susan Lyne, President and CEO of Martha Stewart Living
Omnimedia. "KB Home, an industry leader in home building, is the ideal company
to work with in this endeavor. Martha's homes are warm, functional, and full
of innovative details that inspire our product design. The model homes at Twin
Lakes will provide the opportunity for a broad base of consumers to see those
home products in a total environment for the first time."
Stated Martha Stewart, MSLO Founder: "I'm delighted to team with KB Home
to create beautiful and functional homes that are filled with the design,
colors, and high-quality materials that have been the inspiration for my homes
over the years. Each room in the home will be carefully constructed and
handsomely appointed. We look forward to presenting them to communities across
the country."
Model homes are scheduled to be completed in early 2006. At that time,
prospective buyers will be able to view the model homes and select their
favorite home site, floor plan and design studio options. Although the homes
will not come furnished, the models will be dressed and decorated with Martha
Stewart Living Omnimedia products.
Earlier this year, the Town of Cary, N.C. topped Money magazine's rankings
of the "most desirable places to live in the eastern United States." This
beautiful town has 14 major universities within an hour's drive and North
Carolina's famed Research Triangle Park, whose tenants include Cisco,
Ericsson, IBM and Nortel.
About KB Home
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.
About Martha Stewart Living Omnimedia, Inc.
Martha Stewart Living Omnimedia, Inc. (MSLO) is a leading provider of
original "how-to" information, inspiring and engaging consumers with unique
lifestyle content and high-quality products. MSLO is organized into four
business segments: Publishing, Television, Merchandising, and Internet/Direct
Commerce. Martha Stewart Living Omnimedia, Inc. is listed on the New York
Stock Exchange under the ticker symbol MSO.
SOURCE Martha Stewart Living Omnimedia, Inc.
Caroline Shaw of KB Home, +1-310-231-4142 or +1-801-706-2878, cshaw@kbhome.com; or
Elizabeth Estroff, +1-212-389-4444, eestroff@marthastewart.com,
Investor: Howard Hochhauser, VP, Finance and Investor Relations,
+1-212-827-8530, hhochhauser@marthastewart.com,
both of Martha Stewart Living Omnimedia
