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                                      PROXY
                               LENNAR CORPORATION
                    PROXY FOR SPECIAL MEETING APRIL 28, 2000

      The undersigned hereby appoints Leonard Miller and Stuart A. Miller, and
each of them, with or without the other, proxies with full power of
substitution, to vote all shares of stock that the undersigned is entitled to
vote at the Special Meeting of Stockholders of Lennar Corporation, to be held at
the Doral Park Golf and Country Club, 5001 N.W. 104th Avenue, Miami, Florida, on
April 28, 2000 at 10:00 a.m., local time, and at all adjournments thereof as
follows:

(1)   APPROVAL OF THE ISSUANCE OF COMMON STOCK OF LENNAR CORPORATION TO HOLDERS
      OF COMMON STOCK OF U.S. HOME CORPORATION IN EXCHANGE FOR THEIR U.S. HOME
      COMMON STOCK PURSUANT TO THE MERGER OF U.S. HOME CORPORATION WITH AND INTO
      LEN ACQUISITION CORPORATION CONTEMPLATED BY THE PLAN AND AGREEMENT OF
      MERGER, DATED AS OF FEBRUARY 16, 2000, AS AMENDED, BETWEEN LENNAR
      CORPORATION, LEN ACQUISITION CORPORATION AND U.S. HOME CORPORATION.

               |_| FOR  |_| AGAINST  |_| ABSTAIN

(2)   IN THEIR DISCRETION, UPON ANY OTHER BUSINESS WHICH MAY PROPERLY COME
      BEFORE THE MEETING.

      This proxy will be voted as you specify above. If no specification is
made, the proxy will be voted FOR proposal 1 above. Receipt of the Notice of
Special Meeting and the Joint Proxy Statement/Prospectus is hereby acknowledged.


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