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                                   EXHIBIT 13
 
        KAUFMAN AND BROAD HOME CORPORATION AND CONSOLIDATED SUBSIDIARIES
 
                PAGES 44 THROUGH 78 AND PAGE 82 OF THE COMPANY'S
                       1997 ANNUAL REPORT TO STOCKHOLDERS
 
     This exhibit is incorporated in this Annual Report on Form 10-K between
page F-1 and the List of Exhibits Filed.