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Beazer Homes USA Announces Expanded $250 Million Revolving Credit Agreement

January 3, 2000 at 3:49 PM EST

ATLANTA, Jan. 3 /PRNewswire/ -- Beazer Homes USA, Inc. (NYSE: BZH) (http://www.beazer.com ) today announced that it has increased its unsecured revolving credit facility from $200 million to $250 million with the addition of Wachovia Bank, N.A. and PNC Bank, N.A., each of which committed $25 million to the facility.

The amended credit facility, which now includes 8 banks, extends through November 2002, and can be extended annually with the consent of the banks. Participating institutions also include Bank One Corporation, as Agent and Arranger for the facility, Comerica Bank and Guaranty Federal Bank, F.S.B. as Managing Agents, Bank United, AmSouth Bank, and SunTrust Bank.

David Weiss, Executive Vice President and Chief Financial Officer of Beazer Homes, said "We are extremely pleased to announce our expanded credit agreement and the addition of Wachovia and PNC to our excellent bank group. Under the leadership of Bank One, this facility provides us liquidity to continue taking advantage of opportunities as they present themselves in the homebuilding industry."

Patt Schiewitz, Senior Vice President of Bank One, said, "We are delighted to have Wachovia and PNC join our bank group. These additions and the expansion of the credit facility are a testament to the confidence we have in Beazer and its prospects for the future."

Beazer Homes USA, Inc., based in Atlanta, Georgia, is one of the country's ten largest single-family homebuilders, with operations in Arizona, California, Florida, Georgia, Maryland, Nevada, New Jersey, North Carolina, South Carolina, Tennessee, Texas and Virginia.

Note: Certain statements in this Press Release are "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially. Such risks, uncertainties and other factors include, but are not limited to, changes in general economic conditions, fluctuations in interest rates, increases in raw materials and labor costs, levels of competition and other factors described in the Company's Annual Report for the year ended September 30, 1999.

SOURCE Beazer Homes USA, Inc.

CONTACT: David S. Weiss, Executive Vice President and Chief Financial Officer of Beazer Homes USA, Inc., 404-250-3420, or dweiss@beazer.com /