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Beazer Homes Upgraded By Moody's Investors Service

July 20, 2001 at 11:18 AM EDT

ATLANTA, July 20 /PRNewswire/ -- Beazer Homes USA, Inc. (NYSE: BZH) (www.beazer.com ) today announced that it has received an upgrade from Moody's Investors Service. Moody's has raised Beazer's implied senior rating from Ba3 to Ba2 and has, accordingly, raised the rating on its $200 million 8.625% Senior Notes due 2011, $100 million 8.875% Senior Notes due 2008 and $250 million revolving credit facility to Ba2.

Moody's cited that the upgrade was supported by "the company's strong revenue and earnings growth, geographic diversification, conservative land policies, rapid asset turnover, improving interest coverage, and the growth of its equity base to over $300 million."

David S. Weiss, Executive Vice President and Chief Financial Officer, said, "We are extremely proud that Moody's has recognized our superior financial performance and strong financial position. This is our second upgrade from Moody's in two years. We intend to continue to manage our balance sheet and financial position conservatively, to maintain financial flexibility and warrant further upgrades in 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, Pennsylvania, South Carolina, Tennessee, Texas and Virginia. Beazer Homes also provides mortgage origination, title and insurance services to its homebuyers.

Note: Certain statements in this Press Release are "forward-looking
statements" within the meaning of the Private Securities Litigation Reform 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, 2000.

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 /