MIAMI, Mar 11, 2004 /PRNewswire-FirstCall via COMTEX/ -- Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's largest homebuilders, announced today it has expanded into San Antonio, Texas through the acquisition of substantially all of the real estate assets of Connell-Barron Homes for an undisclosed purchase price paid in cash. Connell-Barron Homes delivered approximately 130 homes in 2003 at an average sales price of $244,000. As part of this purchase, Lennar will acquire a backlog of approximately 81 homes and approximately 1,200 homesites owned or controlled.

Robert Strudler, Chief Operating Officer of Lennar Corporation, said, "We would like to extend a warm welcome to the associates of Connell-Barron Homes joining the Lennar Family of Builders. This is an excellent homebuilding franchise which facilitates our strategic expansion into the San Antonio market and is a wonderful complement to our existing Texas operations."

Lennar Corporation, founded in 1954, is headquartered in Miami, Florida and is one of the nation's leading builders of quality homes for all generations, building affordable, move-up and retirement homes. Under the Lennar Family of Builders banner, the Company includes the following brand names: Lennar Homes, U.S. Home, Greystone Homes, Village Builders, Renaissance Homes, Orrin Thompson Homes, Lundgren Bros., Winncrest Homes, Patriot Homes, NuHome, Barry Andrews Homes, Concord Homes, Cambridge Homes, Coleman Homes and Rutenberg Homes. The Company's active adult communities are primarily marketed under the Heritage and Greenbriar brand names. Lennar's Financial Services Division provides mortgage financing, title insurance, closing services and insurance agency services for both buyers of the Company's homes and others. Its Strategic Technologies Division provides high-speed Internet access, cable television and alarm installation and monitoring services to residents of the Company's communities and others. Previous press releases may be obtained at www.lennar.com. 

SOURCE Lennar Corporation

Marshall Ames, Investor Relations, Lennar Corporation,

+1-305-485-2092

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