CTX Qwest Corp. 7.00% Notes Due 2052

DALLAS, Oct. 31 /PRNewswire-FirstCall/ -- Centex Corporation (NYSE:CTX) announced that it has entered into a Rule 10b5-1 share repurchase plan with a broker to facilitate the repurchase of up to 5,000,000 shares of its common stock under its previously announced share repurchase authorization. Centex is using proceeds from the sale of its UK home building operations and cash from operations to fund the repurchases. About Centex Dallas-based Centex, founded in 1950, is one of the nation's leading home building companies. Centex Homes operates in major U.S. markets in 25 states and delivered more than 33,000 homes in the United States in its most recent fiscal year ended March 31, 2005. Its leading brands include Centex Homes, Fox & Jacobs Homes and Centex Destination Properties. In addition to its home building operations, Centex's (http://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 ranks No. 1 in its industry on FORTUNE magazine's 2005 list of "America's Most Admired Companies." Forward-Looking Statements. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These statements include our statements related to our intentions concerning stock repurchase transactions. These statements are not historical facts or guarantees of future performance but instead represent only Centex's belief at the time the statements were made regarding future events, which are subject to significant risks, uncertainties and other factors, many of which are outside of Centex's control. Actual results and outcomes may differ materially from what is expressed or forecast in such forward-looking statements. These risks and uncertainties include, but are not limited to: (i) the relative performance of the economy and the U.S. stock markets as a whole; (ii) the market price of our common stock and other market conditions; (iii) the source of funds for the repurchases; and (iv) other factors described in greater detail in Centex's most recent Annual Report on Form 10-K for the fiscal year ended March 31, 2005 (including under the captions "Business" and "Management's Discussion and Analysis of Financial Condition and Results of Operations"), as well as recent Quarterly Reports on Form 10-Q, which are on file with the SEC and may be obtained free of charge through the Web site maintained by the SEC at http://www.sec.gov/ . All forward-looking statements made in this press release are made as of the date hereof, and the risk that actual results will differ materially from expectations expressed in this press release will increase with the passage of time. Centex makes no commitment, and disclaims any duty, to update or revise any forward-looking statement to reflect future events or changes in Centex's expectations. CPLBG DATASOURCE: Centex Corporation CONTACT: Leldon E. Echols, Executive Vice President and Chief Financial Officer, or Matthew G. Moyer, Vice President-Investor Relations, both of Centex Corporation, +1-214-981-5000 Web site: http://www.centex.com/

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