[KAUFMAN & BROAD LETTERHEAD]
BRUCE KARATZ
Chairman and
Chief Executive Officer
October 5, 1996
Albert Praw
3350 Scadlock Lane
Sherman Oaks, CA 91403
Dear Albert:
Sincere congratulations on your recent promotion to Senior Vice
President, Regional General Manager. I am extremely excited about the
future of our Company with this new structure. With your talent, skills
and energy I am confident that we will not only meet, but exceed our
future goals!
In light of your promotion, I am pleased to confirm the following
changes in your compensation which will become effective December 1,
1996.
Title/Position: Senior Vice President, Regional General Manager