Investors | News Releases | Beazer Homes USA, Inc. Announces Exchange Offer For 8-3/8% Notes Due 2012

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Beazer Homes USA, Inc. Announces Exchange Offer For 8-3/8% Notes Due 2012

August 14, 2002 at 11:52 AM EDT
ATLANTA, Aug 14, 2002 /PRNewswire-FirstCall via COMTEX/ -- Beazer Homes USA, Inc. (NYSE: BZH) (www.beazer.com ), the nation's sixth-largest homebuilder, announced today that it has commenced its exchange offer for all of its outstanding 8-3/8% Senior Notes due 2012. Beazer Homes is offering to exchange up to $350,000,000 aggregate principal amount of its newly issued 8-3/8% Senior Exchange Notes due 2012, which have been registered under the Securities Act of 1933, for an equal amount of its outstanding privately placed 8-3/8% Senior Notes due 2012, which were issued pursuant to Rule 144A and Regulation S on April 17, 2002. The terms of the exchange notes are substantially identical to the terms of the original notes, except for transfer restrictions, registration rights and liquidated damages provisions relating to the original notes which will not apply to the exchange notes.

Beazer Homes will accept for exchange any and all original notes validly tendered on or before 5:00 p.m., New York time, on Thursday, September 12, 2002, unless the exchange offer is extended. The exchange offer is made only pursuant to Beazer Homes' prospectus dated August 13, 2002, which has been filed with the Securities and Exchange Commission (SEC) as part of the Company's Registration Statement on Form S-4. The Registration Statement was declared effective by the SEC on August 13, 2002.

Copies of the prospectus and transmittal materials governing the exchange offer can be obtained from the Exchange Agent, U.S. Bank National Association by calling (800) 934-6802 or by faxing a request to (651) 244-1537.

Beazer Homes USA, Inc., based in Atlanta, Georgia, is one of the country's ten largest single-family homebuilders with operations in Arizona, California, Colorado, Florida, Georgia, Indiana, Kentucky, Maryland, Mississippi, Nevada, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas and Virginia. Beazer Homes also provides mortgage origination and title services to its homebuyers.

SOURCE Beazer Homes USA, Inc.

CONTACT:          David S. Weiss, Executive Vice President and Chief Financial
                  Officer of Beazer Homes, USA, Inc., +1-404-250-3420, or dweiss@beazer.com