Company Profile For Lennar Corporation

Lennar Corporation is a homebuilder and a provider of financial services. The Company operates in four segments: Homebuilding East, Homebuilding Central, Homebuilding West and Homebuilding Houston. The Company’s homebuilding operations include the construction and sale of single-family attached and detached homes, and to a lesser extent multi-level residential buildings, as well as the purchase, development and sale of residential land directly and through unconsolidated entities, in which it has investments. The Financial Services segment provides mortgage financing, title insurance, closing services and other ancillary services (including high-speed Internet and cable television) for both buyers of the Company’s homes and others. All of the loans the Financial Services segment originates are sold in the secondary mortgage market.

BRIEF: For the nine months ended 31 August 2009, Lennar Corporation's revenues decreased 33% to $2.21B. Net loss increased 52% to $452.7M. Revenues reflect a decrease in income from home building due to lower number of home deliveries and lower revenue from financial services. Net loss also reflects an increase equity in loss from unconsolidated entities and a significant increase in other expense net.