60 Years of Innovation in Homebuilding: PulteGroup Marks Anniversary

Company has fulfilled the dream of home ownership for more than 550,000

BLOOMFIELD HILLS, Mich., Jun 25, 2010 (BUSINESS WIRE) --Fresh out of high school in 1950, 18-year-old William J. "Bill" Pulte followed his passion for home building and hand-built his first house in Detroit. Using a plan bought from the newspaper and a lot acquired from a relative, the house sold before construction was even completed. This month, PulteGroup, Inc. (NYSE: PHM) marks its 60th anniversary of building homes and delivering the American dream of home ownership.

From that first five-room bungalow that sold for $10,000 evolved the nation's largest multi-brand homebuilder with operations in 67 markets spanning 29 states and the District of Columbia. Today, PulteGroup serves its buyers through three primary homebuilding brands: Centex for value-conscious and first-time buyers; Pulte Homes for move-up buyers; and Del Webb for active adults age 55 and over. The combined operations have delivered more than one million homes during the past six decades, from traditional single-family detached residences to stylish multi-plexes and townhomes.

Buyer tastes have evolved over 60 years, with the average PulteGroup home now encompassing more than 2,000 square-feet. Over the years, its customer-focused approach has assured the company remains attuned to homebuyer needs. PulteGroup's innovative, open floor plans have long-offered plenty of living space: multiple bedrooms, upscale bathrooms, gourmet kitchens, great rooms, studies, first floor laundries and other features. One of the company's design innovations first offered in the 1970s was the patented, unfinished "bonus space," to meet the needs of growing families.

"While homes have certainly changed over time, our commitment to quality, value and customer satisfaction has remained a cornerstone of our company," said Richard J. Dugas, Jr., chairman, president and CEO of PulteGroup, Inc. "This reflects the hard work and dedication of all our employees, contractors and suppliers who have helped PulteGroup become the nation's best home builder over the past 60 years. Working together, we look forward to many more decades of success."

An innovator and leader in the homebuilding sector

Production home builders, led by PulteGroup, have long championed industry efforts to develop advanced building processes and products that enhance the quality, sustainability and value of new homes. For example, in the 1970s and 80s PulteGroup was among the first builders to employ production manufacturing to construct prefabricated roof trusses, floor/wall sections, prefinished cabinets - even staircases at one point - to improve quality and reduce costs.

With an intuitive sense of marketing and a feel for the customer, starting in the 1960s, PulteGroup was one of the first production builders to construct model homes that buyers could see, tour and experience before deciding to build their own.

More recently, PulteGroup's industry-leading sustainability efforts not only promote energy-efficient home building, but also energy conservation among homeowners. Its homes feature optimized HVAC systems, tight building envelopes, low emissivity windows, high efficiency toilets and faucets, compact fluorescent lamps, ENERGY STAR(R) appliances and other technologies designed to conserve energy. The company also has become a leader in the integration of advanced solar power systems in homes, now standard or optional in a growing number of PulteGroup communities.

To this day, its breakthrough customer warranty programs, first introduced in the 1970s, lead the industry in guaranteeing the quality of the workmanship and materials used in the building process. In 1993, the Pulte Protection Plan was launched, providing a 10-year insured warranty package on all homes. PulteGroup also was one of the first builders to offer convenient, competitive mortgage financing to its customers.

Significant achievements in its 60-year history

Over the years, PulteGroup has received countless awards for its home building expertise. Most recently, its brands were ranked highest for customer satisfaction in 13 U.S. markets in the J.D. Power and Associates(R) 2009 New Home Buyer Customer Satisfaction Study and were among the top three in 21 of 24 markets in which they were surveyed. PulteGroup has consistently led the industry garnering 203 top three market rankings, far exceeding any other builder, since the study was introduced in 2000.

Additionally, PulteGroup was selected as the recipient of the 2009 Leadership for Energy and Environmental Design Award for Homes Outstanding Production Builder by the U.S. Green Building Council.

After merging with Centex Corporation late in 2009, the combined company emerged as the largest homebuilder in America. While being the largest is significant, the company has always focused on being best: best in quality, best in delighting the customer and best place to work.

Next month, PulteGroup will begin its 61st year in business with more than 800 Centex, Pulte Homes and Del Webb communities open across the country. Company management knows that ongoing success in such a competitive industry requires continually developing innovative ways to design and build homes as efficiently as possible - while maintaining the industry benchmark for quality and customer satisfaction.

"Led by Bill Pulte, we've built a legacy of delighting our customers," Dugas said. "We're very proud of this accomplishment, but we can't rest on our laurels. People deserve superior quality in the new homes they buy and we are committed to delivering a well-built home at a competitive price. Sixty years of experience is a significant foundation from which to build that legacy."

About PulteGroup

PulteGroup, Inc. (NYSE: PHM) based in Bloomfield Hills, Mich., is America's premier home building company with operations in 67 markets, 29 states and the District of Columbia. Celebrating its 60th anniversary in 2010, the Company has an unmatched capacity to meet the needs of all buyer segments through its brand portfolio that includes Pulte Homes, Centex Homes and Del Webb. In 2009, PulteGroup brands received more top rankings than any other homebuilder in the annual J.D. Power and Associates 2009 New-Home Builder Customer Satisfaction Studysm.

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SOURCE: PulteGroup, Inc.

PulteGroup, Inc.
Caryn Klebba
(248) 433-4840
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