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Beazer Homes Announces Increase to Revolving Credit Facility

June 20, 2006 at 4:06 PM EDT

ATLANTA--(BUSINESS WIRE)--June 20, 2006--Beazer Homes USA, Inc. (NYSE: BZH) (www.beazer.com) today announced that it has increased its existing revolving credit facility by $250 million in aggregate commitment effective June 16, 2006. As a result, the revolving credit facility, which matures in August 2009, now provides for borrowings up to an aggregate of $1 billion, subject to the terms and conditions set forth in the credit agreement.

The facility is led by JP Morgan Chase Bank, N.A. as Administrative Agent, BNP Paribas, Guaranty Bank and Wachovia Bank as Syndication Agents, The Royal Bank of Scotland plc as Documentation Agent, Citicorp North America, Inc., SunTrust Bank and Washington Mutual Bank, FA as Managing Agents, and Comerica Bank, PNC Bank, National Association and UBS Loan Finance LLC as Co-Agents. JP Morgan Securities Inc., acted as Lead Arranger and Sole Bookrunner. Eleven other banks participate in the facility.

"The increase in our revolving credit facility provides Beazer Homes with enhanced liquidity to continue to opportunistically grow our business," said James O'Leary, Executive Vice President and Chief Financial Officer. "We greatly appreciate the support and confidence of our bank syndicate, and are pleased to welcome two new lenders, Calyon and Natexis Banque Populaires. The success of this transaction illustrates our banks' confidence in Beazer Homes and its strategy."

Beazer Homes USA, Inc., headquartered in Atlanta, is one of the country's ten largest single-family homebuilders with operations in Arizona, California, Colorado, Delaware, Florida, Georgia, Indiana, Kentucky, Maryland, Mississippi, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia and West Virginia and also provides mortgage origination and title services to its homebuyers. Beazer Homes, a Fortune 500 company, is listed on the New York Stock Exchange under the ticker symbol "BZH."

Forward-Looking Statements

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, changes in levels of customer demand, fluctuations in interest rates, increases in raw materials and labor costs, levels of competition, potential liability as a result of construction defect, product liability and warranty claims, the possibility that the company's strategies to broaden target price points and lessen dependence on the entry-level segment in certain markets will not achieve desired results, and other factors described in the company's Annual Report on Form 10-K/A for the year ended September 30, 2005 filed with the Securities and Exchange Commission on May 25, 2006.

CONTACT: Beazer Homes USA, Inc., Atlanta
Leslie H. Kratcoski, 770-829-3764
lkratcos@beazer.com

SOURCE: Beazer Homes USA, Inc.