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KAUFMAN AND BROAD CALLS IN OUTSTANDING CONVERTIBLE SUBORDINATED NOTES

 LOS ANGELES, May 12 /PRNewswire/ -- Kaufman and Broad Home Corp. (NYSE: KBH) announced it will redeem all of its outstanding zero- coupon convertible subordinated notes due 2004 (also known as Liquid Yield Option Notes, or LYONs) on June 7, 1993.
 Each LYON will be redeemed at a redemption price of $416.28 per $1,000 principal amount, which is equal to the issue price plus original issue discount accrued to the redemption date.
 The LYONs are convertible into shares of the company's common stock at the rate of 14.69 shares per $1,000 principal amount of LYONs. The LYONs may be converted at any time before the close of business on June 7, 1993.
 To collect the redemption price, holders are required to surrender the Lyons to one of the addresses specified in the Notice of Redemption and accompanying Letter of Transmittal, which have been mailed to holders of the LYONs by NBD Bank N.A., as agent.
 Kaufman and Broad, as previously reported, will use net proceeds from its recent offering of senior subordinated notes, due 2003, to redeem the LYONs.
 Kaufman and Broad is the West's largest home builder and among the largest builders in metropolitan Paris where the company develops commercial office properties and a variety of residential investment properties in addition to single-family homes.
 -0- 5/12/93
 /CONTACT: Bernard Sandalow of Kaufman and Broad, 310-443-8040/
 (KBH)


CO: Kaufman and Broad Home Corp. ST: California IN: CST SU:

JB-MS -- LA022 -- 7642 05/12/93 13:59 EDT
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Publication:PR Newswire
Date:May 12, 1993
Words:252
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