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KAUFMAN AND BROAD'S VINTAGE COMMUNITIES SUBSIDIARY ANNOUNCES NAME CHANGE, NEW DEVELOPMENTS

 KAUFMAN AND BROAD'S VINTAGE COMMUNITIES SUBSIDIARY
 ANNOUNCES NAME CHANGE, NEW DEVELOPMENTS
 NEWPORT BEACH, Calif., Oct. 14 /PRNewswire/ -- Kaufman and Broad Home Corp. (NYSE: KBH) today announced that its wholly owned subsidiary, Vintage Communities Inc., has changed its name to Kaufman and Broad South Coast Inc. and will begin developing new home communities in Orange County under the company's statewide "California Series" marketing brand identity.
 According to Roland Osgood, president of the Newport Beach-based subsidiary, all communities currently under development will continue to be marketed under the Vintage label, with the new identity phased in as new communities are brought on line over the next several months.
 Osgood said the new name will enable his operation to take advantage of Kaufman and Broad's marketing clout, as well as the broader consumer awareness of the company's brand image and its standing as California's leading home builder.
 "Nothing will change except our name," Osgood said. "We still have the same management and staff and will continue offering Orange County home buyers the same quality, style and value that are the hallmarks of our existing communities. As the South Coast division of Kaufman and Broad, however, we will enjoy the benefits of the company's high consumer awareness levels and its extensive advertising, direct mail and other programs that have contributed to its recent dramatic market share gains," he added.
 Kaufman and Broad launched Vintage Communities in June 1991 when it announced that Osgood, a former Irvine Company executive and a 24-year veteran of the Orange County home building industry, had joined the company to pursue entry-level and trade-up housing opportunities in the area. Since then it has developed three popular new home communities in Foothill Ranch and one in Anaheim Hills, with a combined total of more than 200 sales to date.
 One of these communities, Vintage Collection in Foothill Ranch, was honored with two Grand Awards and one Award of Merit at the 1992 Gold Nugget Awards. Honoring the best in residential design in the 14 western states and Pacific Rim countries, the Gold Nugget is among the most prestigious honors a home builder can receive.
 Sales continue at the division's other current communities, which include Vintage Promenade and Vintage Gallery, also located in Foothill Ranch; and Vintage Place at The Summit in Anaheim Hills, where a second phase of homes, Vintage Place II, is being planned.
 "We are very proud of the success we've achieved and the warm reception our buyers have given our homes after a little more than one year in business," Osgood said of Vintage's results to date. "But in today's competitive environment, the advantages of being associated with the name recognition of a statewide builder -- and the cost efficiencies we can achieve by sharing in Kaufman and Broad's marketing program -- will mean even better value for our customers," Osgood noted.
 Osgood announced that plans are already under way for the first three developments to be marketed under the Kaufman and Broad name. They include California Court, a community of 184 attached townhomes in Mission Viejo, affordably priced from the $120,000s to the $150,000s; California Terrace, another community of 132 townhomes also located in Mission Viejo, with prices ranging from the $130,000s to the $160,000s; and California Collection, a community of 81 large, single-family detached homes located at The Summit in Anaheim Hills, with prices expected to range from the $240,000s to the $260,000s.
 All three communities are expected to open for sales in early 1993, Osgood reported.
 Los Angeles-based Kaufman and Broad Home Corp. is the largest producer of single-family housing in California and the largest builder in metropolitan Paris, where the company develops commercial office properties and a variety of residential investment properties in addition to single-family homes.
 -0- 10/14/92
 /CONTACT: Bernard Sandalow of Kaufman and Broad Home Corp., 310-443-8040/
 (KBH) CO: Kaufman and Broad Home Corp. ST: California IN: CST SU:


JL-LS -- LA024 -- 9963 10/14/92 14:34 EDT
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Date:Oct 14, 1992
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