LENB Lennar Corporation (Class B)

Lennar Corporation (NYSE:LEN)�(NYSE:LEN.B), one of the nation's largest homebuilders, today commended President Bush for signing into law a sweeping housing bill designed to renew the stagnant housing market and bolster the U.S. economy. �We commend Congress for passing this bill and the President for his support in signing it,� said Stuart A. Miller, Lennar�s President and Chief Executive Officer. �We believe this bill will help stabilize the housing market and create renewed confidence in the broader economy.� Mr. Miller added: �We are particularly optimistic about the bill�s $7,500 tax credit for first-time home buyers. This provision has the potential to create much needed demand among first-time buyers who have been undecided about buying a new home. And if first-time buyers enter the market, then existing homeowners may trade up, creating an upward spiral of demand.� To qualify for the credit, first-time buyers have to close on their home purchase between April 8, 2008 and July 1, 2009. The full credit is available to single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000. Recipients of the tax credit are required to repay the federal government during a 15-year period that begins two tax years after the credit is claimed. The credit, in essence, is an interest-free loan from the government. Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. The Company builds affordable, move-up and retirement homes primarily under the Lennar brand name. Lennar's Financial Services segment provides primarily mortgage financing, title insurance and closing services for both buyers of the Company's homes and others. Previous press releases and further information about the Company may be obtained at the "Investor Relations" section of the Company's website, www.lennar.com. Some of the statements in this press release are forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding our business, financial condition, results of operations, cash flows, strategies and prospects. You can identify forward-looking statements by the fact that these statements do not relate strictly to historical or current matters. Rather, forward-looking statements relate to anticipated or expected events, activities, trends or results. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements. These factors include those described under the caption Risk Factors in Item 1A of our Annual Report on Form 10-K for our fiscal year ended November 30, 2007. We do not undertake any obligation to update forward-looking statements, except as required by Federal securities laws.