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Hearth & Home Technologies and Lennar Corporation Announce National Supplier Agreement

2/9/2005 (Minneapolis)


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Hearth & Home Technologies Inc., the world's largest fireplace manufacturer, and Lennar Corporation, one of the nation's largest homebuilders, announced today that the companies have established a national supplier agreement. The three-year agreement designates Hearth & Home Technologies as the exclusive provider and installer of hearth products in homes constructed by Lennar. It encompasses the Heatilator and Heat & Glo brands of Hearth & Home Technologies and strengthens the company's position as the preferred hearth provider for the nation's top home builders.

"We are excited about the opportunity to be the sole supplier of hearth products for Lennar, the only three time recipient of the Builder of the Year Award from Professional Builder magazine, and two time winner of the National Housing Quality Award," said Roger Oxford, Senior Vice President, New Construction Channel, Hearth & Home Technologies. "This agreement bolsters our strategy to align with companies, like Lennar, whose aggressive growth initiatives will strengthen our presence across the United States and reinforce Heatilator and Heat & Glo as the two top brands in the industry."

In 2003, Lennar closed on more than 32,000 home projects. Through its family of 20 builders, the company projects to close on more than 43,000 in 2005 within 42 key markets.

Mark Shevory, Regional President for Lennar Corporation, said "Hearth & Home Technologies' fully integrated hearth distribution network combined with the industry's two leading fireplace brands makes them an ideal partner for Lennar. This national supplier agreement will allow us to provide greater value and more appealing fireplaces and hearth products for our customers. In addition, we expect to gain operational efficiencies from logistical and support standpoint. We are confident that Hearth & Home Technologies and its brands will serve our goal of building a better home that customers cherish for a lifetime."

Hearth & Home Technologies is a subsidiary of HNI Corporation (NYSE: HNI), the second largest office furniture manufacturer in the United States. Hearth & Home Technologies is the world's largest fireplace manufacturer and a leading provider of hearth products for the home. Additional brands in the Hearth & Home Technologies family include: Quadra-Fire and Fireside Hearth and Home. More information can be found at www.hearthnhome.com.

Lennar Corporation, founded in 1954, is headquartered in Miami, Florida and is one of the nation's leading builders of quality homes for all generations, building affordable, move-up and retirement homes. Under the Lennar Family of Builders banner, the Company includes the following brand names: Lennar, U.S. Home, Greystone, Village Builders, Renaissance, Orrin Thompson, Lundgren, Winncrest, Patriot, NuHome, Concord, Cambridge, Coleman and Classic American. The Company's active adult communities are primarily marketed under the Heritage and Greenbriar brand names. Lennar's Financial Services Division provides mortgage financing, title insurance, closing services and insurance agency services for both buyers of the Company's homes and others. Its Strategic Technologies Division provides high-speed Internet access, cable television and alarm installation and monitoring services to residents of the Company's communities and others. Previous press releases may be obtained at http://www.lennar.com.