Forward-Looking Statement
This presentation includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements may
include, but are not limited to, statements about the benefits of the proposed transaction, including future financial
and operating results, the combined company's plans, objectives, expectations and intentions. These statements are
subject to a number of risks, uncertainties and other factors that could cause our actual results, performance,
prospects or opportunities, as well as those of the markets we serve or intend to serve, to differ materially from those
expressed in, or implied by, these statements. You can identify these statements by the fact that they do not relate
to matters of a strictly factual or historical nature and generally discuss or relate to forecasts, estimates or other
expectations regarding future events. Generally, the words "believe," "expect," "intend," "estimate," "anticipate,"
"project," "may," "can," "could," "might," "will" and similar expressions identify forward-looking statements, including
statements related to expected operating and performing results, planned transactions, planned objectives of
management, future developments or conditions in the industries in which we participate and other trends,
developments and uncertainties that may affect our business in the future.
Such risks, uncertainties and other factors include, among other things: the possibility that the expected efficiencies
and cost savings from the proposed transaction will not be realized, or will not be realized within the expected time
period; the ability to obtain governmental approvals of the merger on the proposed terms and schedule contemplated
by the parties; the failure of Centex's stockholders to approve the proposed merger; the failure of Pulte's stockholders
to approve either the charter amendment increasing the number of authorized shares of Pulte's common stock or the
issuance of Pulte's common stock to Centex stockholders; the risk that the Pulte and Centex businesses will not be
integrated successfully; disruption from the proposed transaction making it more difficult to maintain business and
operational relationships; the possibility that the proposed transaction does not close, including, but not limited to, due
to the failure to satisfy the closing conditions; interest rate changes and the availability of mortgage financing;
continued volatility in, and potential further deterioration of, the debt and equity markets; competition within the
industries in which Pulte and Centex operate; the availability and cost of land and other raw materials used by Pulte
and Centex in their homebuilding operations; the availability and cost of insurance covering risks associated with
Pulte's and Centex's businesses; shortages and the cost of labor; weather related slowdowns; slow growth initiatives
and/or local building moratoria; governmental regulation, including the effects from the Emergency Economic
Stabilization Act, the American Recovery and Reinvestment Act and the interpretation of tax, labor and environmental
laws; changes in consumer confidence and preferences; terrorist acts and other acts of war; and other factors of
national, regional and global scale, including those of a political, economic, business and competitive nature. See
Pulte's and Centex's Annual Reports on Form 10-K and Annual Reports to Stockholders for the fiscal years ended
December 31, 2008 and March 31, 2008, respectively, and other public filings with the Securities and Exchange
Commission (the "SEC") for a further discussion of these and other risks and uncertainties applicable to our
businesses. Neither Pulte nor Centex undertakes any duty to update any forward-looking statement whether as a
result of new information, future events or changes in our respective expectations.
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