Beazer Says SEC Inquiry Now Formal

New York, NY, July 24, 2007--Beazer Homes USA said the Securities and Exchange Commission is conducting a formal investigation into the company.

In May, Beazer said the SEC was conducting an informal inquiry to determine whether any person or entity related to Beazer Homes had violated federal securities laws.

The company did not provide further details about the inquiry at that time, but did say it received notice of a class-action complaint -- filed on behalf of present and former participants and beneficiaries of the Beazer Homes 401(k) plan -- that alleged breach of fiduciary duties.