Trustee Says Beazer Homes in Default on Notes

Atlanta, GA, May 7, 2008--Beazer Homes received a default notice from the Bank of New York Trust Company National Association on April 30, according to a filing with the Securities and Exchange Commission.

The notice is regarding the company's $103.1 million unsecured junior subordinated notes due July 2036. It alleges that the company is in default because it has yet to provide certain required information, including its annual and quarterly financial statements.

Beazer Homes said it expects to be able to cure this default by May 15.