Pulte Homes

Stock Symbol: PHM

Pulte Homes Description:
Pulte Homes, Inc., (www.pulte.com) based in Bloomfield Hills, Michigan, has operations in 44 markets across the United States. Under its Del Webb (www.delwebb.com) brand, the Company is also the nation's leading builder of active adult communities for people age 55 and older. Over its history, the Company has constructed more than 300,000 homes and has been named Builder of the Year for 2002 by Professional Builder magazine. Pulte Mortgage, LLC is a nationwide lender committed to meeting the financing needs of Pulte Homes' customers by offering a wide variety of loan products and superior customer service.

Pulte Homes Financial Summary:
Pulte Homes, Inc. is a holding company whose subsidiaries are engaged in homebuilding and financial services businesses. For the 6 months ended 6/30/05, revenues rose 29% to $5.85B. Net income from continuing ops. rose 63% to $522.1M. Revenues reflect an increase in the number of homes closed, product mix shifts and higher average selling prices. Net income reflects benefits from leveraging construction costs.

Pulte Homes Business Summary:
Pulte Homes, Inc. is a holding company whose subsidiaries engage in the homebuilding and financial services businesses. The Company's principal direct subsidiaries include Pulte Diversified Companies, Inc. and Del Webb Corporation (Del Webb). Pulte Diversified Companies, Inc.'s principal operating subsidiaries include Pulte Home Corporation and Pulte International Corporation (International). The Company also has a mortgage banking company, Pulte Mortgage LLC (Pulte Mortgage), which is a subsidiary of Pulte Home Corporation. The Company has two operating business segments: Homebuilding and Financial Services. The Homebuilding segment consists of two business units: Domestic Homebuilding and International Homebuilding. The Financial Services segment consists principally of mortgage banking and title operations conducted through Pulte Mortgage and other subsidiaries. In January 2005, the Company sold all of its Argentina operations to Grupo Farallon, S.A.

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