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        It is with great sadness that Lennar Corporation (NYSE: LEN and LEN.B) announced
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</font></div>
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        Strudler served as Lennar&#8217;s Chairman since December, 2004, and served as
        Lennar&#8217;s Vice Chairman and Chief Operating Officer from May, 2000 to December,
        2004. Prior to joining Lennar, he was Chairman and Co-Chief Executive Officer
        of
        U.S.&#160;Home Corporation which was acquired by Lennar Corporation in May,
        2000. </font></div>
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        dedication to our Associates, and his passion for giving back to the community
        will continue as an inspiration for all of us who have had the privilege
        of
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2-2-2</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Jon
        Jaffe, Chief Operating Officer of Lennar, said, &#8220;In the years that Bob served as
        an officer and director of Lennar, he set the highest standards for all of
        us to
        follow and guided me personally as I moved into my role as Chief Operating
        Officer. In recent years, his powerful voice and spirited manner touched
        our
        thousands of Associates regularly as he crossed the country in his bus and
        shared his thoughts through his quarterly columns in our Associate Newsletter.
        Whatever the situation, his words were always thought provoking, full of
        warmth
        and heartfelt. He will be truly missed by all of our Lennar
        Family.&#8221;</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
        Strudler has an exemplary professional and community service record and has
        been
        honored numerous times in both aspects of his life. He</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman">
        served as Chairman of the High Production Home Builders Council of the National
        Association of Home Builders. He was a member of the Cornell University Real
        Estate Council, the Advisory Council for the Program in Real Estate at Cornell
        University, and the President's Advisory Board at the University of St. Thomas.
        He also served as a President and Trustee of Congregation Or Ami and as
        President and Trustee of the Foundation for the &#8220;School for Young Children&#8221; in
        Houston, Texas. The Foundation operates a private school for learning disabled
        children.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman">Mr.
        Strudler was selected as the co-recipient of the National Builder of the
        Year
        Award by </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman"><em>Professional
        Builder</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman">
        magazine and received the Bronze Award from the </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman"><em>Wall
        Street Transcript</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman">
        for CEO performance in the residential building industry. He was nominated
        and
        inducted into the National Housing Hall of Fame by the National Housing Center
        Board of Governors. He was named the recipient of the Legend in Marketing
        Award
        from the National Sales and Marketing Council of the National Association
        of
        Homebuilders.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman">Mr.
        Strudler was named as a recipient of the Golda Meir Senior Humanitarian Award
        recognizing his contributions to the Golda Meir/Kent Jewish Center and his
        devotion to issues surrounding the senior population. He was named the recipient
        of the Hearthstone Builder Lifetime Public Service Award and honored by Houston
        Habitat for Humanity as Man of the Year.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; COLOR: #000000; FONT-FAMILY: Times New Roman">3-3-3</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
        Strudler attended Columbia University Law School where he graduated in 1967
        with
        an L.L.B. degree and Cornell University where he received a Bachelor of Science
        Degree. He was a member of the New York State Bar Association, the Florida
        Bar,
        and the American Bar Association. Prior to joining U.S. Home in 1971, Mr.
        Strudler was engaged in private legal practice in New York with the law firm
        of
        Wickes, Riddell, Bloomer, Jacobi and McGuire and with the firm of London,
        Buttenwieser and Chalif. </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
        Strudler was born in 1942 in Brooklyn, New York and has been a resident of
        Houston, Texas since 1979. His wife, Dr. Ruth Strudler, is Dean of the School
        of
        Education and Professor at the University of St. Thomas in Houston. They
        have
        three children: Seth, Keith and Craig and a daughter-in-law Andra.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Funeral Service will be held at Congregation Or Ami on Thursday, November
        9th at
        11:00 a.m. Central Time followed by internment at Beth Yeshurun Cemetery.
        In
        lieu of flowers, donations in Mr. Strudler&#8217;s memory can be made to either
        Congregation Or Ami, 3443 Wilcrest Drive, Houston, Texas 77042, or The
        Foundation for the School for Young Children, 810 Sul Ross Street, Houston,
        Texas 77006.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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 and U.S. Home brand names. 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
&#8220;Investor Relations&#8221; section of the Company's website,
        www.lennar.com.</font></div>
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