Paul Hastings Represents Lennar Corporation in Mixed-Use Development Project Passed by San Francisco Voters

June 06, 2008

San Francisco, CA (June 6, 2008) Paul, Hastings, Janofsky & Walker LLP, a leading international law firm, announced today that the firms client, Lennar Corporation, received decisive voter approval for Proposition G, a San Francisco initiative which outlines Lennars plan to redevelop 770 acres of waterfront property in the southeast corner of the City. The city's largest redevelopment project since World War II, the project will bring new homes and economic vitality to the abandoned Hunters Point Shipyard and Candlestick Park, the current home of the San Francisco 49ers. Paul Hastings advised Lennar on the transactional and environmental issues associated with the development of this property and assisted in the drafting and passage of Proposition G. It also represents Lennar in the ongoing entitlement process for the project.

Proposition G allows for the construction of up to 10,000 homes, 700,000 square feet of regional retail space, two million square feet of green technology office space, more than 300 acres of parks and open space, and a waterfront site for a new stadium for the San Francisco 49ers.

San Francisco partner Charles Thornton led the Paul Hastings team, which included partner Gordon Hart and associate David Hamsher.

About Lennar Corporation: Headquartered in Miami, Florida, Lennar is one of the nations leading builders of quality homes.

Paul, Hastings, Janofsky & Walker LLP, founded in 1951, is a leading international law firm with over 1,200 attorneys in 18 offices. The firm serves a diverse client base including many of the leading global financial institutions and Fortune 500 companies and offers deep capabilities in capital markets, finance and restructuring, intellectual property, international arbitration and dispute resolution, investment management, labor and employment, mergers and acquisitions, private equity, product liability, project finance, real estate, securities litigation and tax advisory services. For additional information, please visit our website at www.paulhastings.com.