Beazer Exiting Mortgage Business, Five Markets

Atlanta, GA, February 1, 2008--Home builder Beazer Homes said Friday that it will discontinue its mortgage origination business and had signed an agreement with Countrywide Financial Corp.

Under the arrangement, Beazer Homes will market Countrywide as its preferred mortgage provider to Beazer's home buyers. Countrywide loan counselors will be available to Beazer customers at all of the builder's communities.

Beazer also said it will be leaving five markets: Charlotte, N.C.; Cincinnati/Dayton, Ohio; Columbia, S.C.; Columbus, Ohio; and Lexington, Ky. Beazer said it will complete all homes under construction and will offer warranty services to homeowners.

"We believe that the strategic actions we are announcing today will position us well to take advantage of opportunities that will arise when our markets begin to recover," said Ian J. McCarthy, Beazer's president and CEO.