DALLAS - Centex Homes, one of the nation's largest home builders, today announced its continuing support for land conservation through a new preservation initiative with one of the country's most respected independent environmental organizations and an initial $1 million commitment.

The new Centex Homes Land Legacy Fund will help finance land and water preservation projects around the country. The Conservation Fund, recently ranked as one of America's best charities by Forbes and Money magazines, will manage the fund and work with Centex Homes to identify and prioritize high priority projects across the country in need of support.

Centex Homes will formalize the relationship at a ceremony at the Big Thicket National Preserve near Houston on Tuesday. Big Thicket National Preserve is the first of several fund beneficiaries to receive Centex Homes' help in 2005.

"Land is obviously an essential element for our business," said Andy Hannigan, chairman and chief executive officer of Centex Homes. "The Land Legacy Fund will enable us to expand our vision of working with multiple organizations that share our passion for balancing land conservation with responsible development."

Centex Homes has donated more than $5 million since 1999 to protect special habitats across the United States through leading international preservation organizations.

The newly established Centex Homes Land Legacy Fund will be part of The Conservation Fund's Revolving Fund, used to assist federal, state and local agencies solely for land acquisition projects. Because a portion of the fund is repaid through subsequent agency appropriations, the fund anticipates reinvesting contributions as many as three times during a five-year period. The fund has protected land in all 50 states including national parks and wildlife refuges, working landscapes, and open space and historic places in communities across the nation.

"By making land conservation a high priority, Centex Homes is helping to protect some of America's most important landscapes and waterways," said The Conservation Fund's President, Larry Selzer. "We applaud Centex Homes and its employees for their commitment and look forward to working together to conserve our nation's outdoor heritage."

About The Conservation Fund
Headquartered in Arlington, Virginia, The Conservation Fund (www.conservationfund.org) is forging partnerships to protect wildlife habitat and enhance public recreation opportunities. Since its establishment in 1985, the Fund has protected more than four million acres of America's most important outdoor heritage, including nearly one million acres of working forestland. For the fourth year in a row, the Fund was named the nation's top-rated environmental nonprofit by the American Institute of Philanthropy. With a one percent fundraising cost, the lowest of all environmental groups in the country, and a program allocation of 96 percent, the Fund is unmatched for its efficiency and effectiveness.

About Centex Homes
Dallas-based Centex Homes (www.centexhomes.com) is one of the nation's leading home builders, operating in more than 90 U.S. markets in 26 states. Its brands include Centex Homes, entry-level builder Fox & Jacobs Homes, on-your-lot builder Wayne Homes and resort/second home builder Centex Destination Properties. Centex Homes delivered 33,387 homes in the United States in its most recent fiscal year, ended March 31, 2005. The company is a subsidiary of Centex Corporation (NYSE: CTX), a Fortune 250 company.

Centex Corporation (www.centex.com), founded in Dallas in 1950, is one of the nation's premier companies in home building, financial services, home services and commercial contracting. Centex ranks No. 1 in its industry on FORTUNE magazine's 2005 list of "America's Most Admired Companies."

NOTE TO EDITORS:
A comprehensive list of U.S. locations that will receive funds through the Centex Homes Land Legacy Fund is attached.

For additional information on Centex Homes Land Legacy Fund, visit our website at www.centexhomes.com/legacyfund.

Centex Corporation

Centex Corporation

Dallas-based Centex (NYSE: CTX), founded in 1950, is one of the nation's leading home building companies. Centex operates in major U.S. markets in 25 states and delivered more than 39,000 homes in the United States in its most recent fiscal year ended March 31, 2006. Its leading brands include Centex Homes, Fox & Jacobs Homes, CityHomes and Centex Destination Properties. In addition to its home building operations, Centex's (www.centex.com) related business lines include mortgage and financial services, home services and commercial construction. These businesses provide operational or financial support to home building operations and are leaders in their respective industries. Centex consistently ranks among the most admired companies in its industry, according to FORTUNE magazine.

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