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DUFF & PHELPS COMMENTS ON KAUFMAN & BROAD'S SPECIAL STOCK REPURCHASE

 CHICAGO, Nov. 5 /PRNewswire/ -- Kaufman & Broad Home Corp. (NYSE: KBH; KBS) announced late yesterday that it plans to begin, on November 8, an offer to buy all 5,123,000 shares of its special common stock outstanding at $19 per share.
 It is doing so to afford stockholders who are considering the sale of all or a portion of its special common stock the opportunity to sell at a price equal to the March 1992 initial public offering price and above the closing sales price of $17.50 on Thursday's NYSE Composite Tape.
 Duff & Phelps does not view this action as having any credit quality implications, as the current ratings contemplated the proposed transaction. The transaction is to be funded with proceeds from Kaufman & Broad's PERC offering from earlier this year. Consequently, the transaction is equity neutral for the company.
 The current ratings of Kaufman and Broad Home Corp. are 'BBB-' for senior debt and 'BB+' for both senior subordinated notes and preferred stock.
 -0- 11/4/93
 /CONTACT: David W. Eisinger, CFA of Duff & Phelps Credit Rating Co., 312-368-3145/
 (KBH KBS)


CO: Kaufman & Broad Home Corp. ST: Illinois IN: HOU SU: RTG

WB -- NY026 -- 1170 11/05/93 10:45 EST
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Publication:PR Newswire
Date:Nov 5, 1993
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