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Beazer Homes USA, Inc. Announces Stock Repurchase Program

November 2, 1999 at 5:33 PM EST

ATLANTA, Nov. 2 /PRNewswire/ -- Beazer Homes USA, Inc. (NYSE: BZH) (www.beazer.com ) announced today that its Board of Directors has approved a stock repurchase program of up to 500,000 shares, or approximately 6% of the Company's outstanding common stock. Shares will be purchased from time-to-time in the open market subject to market conditions.

"Considering our record fiscal 1999 results, our current strong financial condition and our continuing confidence in the long-term growth potential for Beazer Homes, we believe our stock is an excellent investment opportunity," said Ian J. McCarthy, President and Chief Executive Officer.

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, 1998.

SOURCE Beazer Homes USA, Inc.