CTX Qwest Corp. 7.00% Notes Due 2052

DALLAS, Nov. 23 /PRNewswire-FirstCall/ -- Centex Corporation (NYSE:CTX) today announced that Andrew J. Hannigan, a 30-year veteran of Centex Homes, has adopted a pre-arranged, systematic trading plan for the exercise of certain stock options and sale of the underlying shares in accordance with guidelines specified by Rule 10b5-1 under the Securities Exchange Act of 1934 and with Centex's policies with respect to insider sales. Rule 10b5-1 permits officers and directors of public companies to adopt pre-determined plans for buying or selling specified amounts of stock. The plans may be entered into only when an officer or director is not in possession of material, nonpublic information and may be used to gradually diversify investment portfolios over a period of time. Under this 10b5-1 plan, Mr. Hannigan has directed a broker unaffiliated with the company to exercise on a net basis, subject to certain conditions, options to purchase up to 853,468 shares of Centex common stock over the period commencing Nov. 18, 2005 and ending Oct. 31, 2006. The plan has a series of laddered price triggers for the exercise of options and the sale of the net shares issued. "I remain very optimistic about the long-term growth prospects for both Centex and the building industry in general, and I intend to retain a large, long-term holding in Centex stock. That said, at the advice of my financial advisors, I have adopted this trading plan as a way of managing options expiration and achieving prudent diversification of my personal investment portfolio," said Mr. Hannigan. If Mr. Hannigan completes the planned sale of all of these shares under his trading plan, he would continue to own beneficially more than 783,000 shares of Centex common stock or equivalents. Sales under this trading plan will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission. The Form 4 filings will also be posted on the investor relations section of the company's Web site, http://ir.centex.com/ . About Centex Dallas-based Centex, 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 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 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 statements related to future prospects of the Company. 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) 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. CPLBF DATASOURCE: Centex Corporation CONTACT: Leldon E. Echols, Executive Vice President and Chief Financial Officer, +1-214-981-5000, or Matthew G. Moyer, Vice President - Investor Relations, +1-214-981-6901, both of Centex Corporation Web site: http://www.centex.com/

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