Centex Construction Company Completes Largest Office Building Project Along Tollway Corridor One Month Early.

Business Editors

DALLAS--(BUSINESS WIRE)--Feb. 1, 2002

Phases II and III of the JPMorgan International Plaza campus, located at Spring Valley and the Tollway, has officially completed one month early.

Centex Construction Company, the construction manager for the $70 million project, completed the project ahead of schedule and without any budget overruns, despite 45 days of inclement weather.

The entire International Plaza campus, with a construction value in excess of $100 million, consists of three phases and is the regional headquarters of JPMorgan. Heavily landscaped grounds surround the office towers creating a park-like setting. At the center of this one-acre park is a large reflecting pool with four spouting fountains. Each of the three class "A" office towers feature polished granite lobbies and a typical floor is approximately 28,000 square feet.

During the design process, Centex was able to develop an accurate guaranteed maximum price working only with the building's elevation drawings, first floor plan, typical floor plan and roof plan. Now, at the completion of the campus, Centex delivered the project with no change orders and with shared savings being returned to Wilcox Development Services.

As a direct result of the project's success, the American Subcontractors Association North Texas Chapter, has nominated Centex for the JPMorgan International Plaza, phases two and three, in the categories of Outstanding Project of the Year for large projects over $25 million and Outstanding Project Team of the Year.

Steve Platt, president of Wilcox Development Services, said, "Centex did an outstanding job on the first phase of the project. When lease negotiations with JPMorgan required the construction of an additional two buildings, we worked with Centex to develop preliminary cost numbers that allowed us to quote a firm rental rate. After the deal was struck with the tenant, Centex worked closely with us to value-engineer the project specifications in order to meet the preliminary cost estimate. In the end, we couldn't have picked a better partner for a project of this size. Total construction cost exceeded $100 million and the entire 1.1 million- square-foot project was delivered within budget and a month early."

Centex Construction Company, a leader in the commercial construction industry for 65 years, provides general contracting, construction management, design-build, program management, and preconstruction services. Centex Construction Company is a division of Centex Construction Group, a subsidiary of Dallas-based Centex Corporation (NYSE:CTX). Centex is listed for the seventh year in a row as one of the nation's top five contractors by Engineering News-Record magazine and ranks number one in domestic general building revenue by Engineering News-Record. Centex ranks number one for the second consecutive year on FORTUNE(R) magazine's list of "America's Most Admired Companies"(TM) in the engineering and construction category. For more information on Centex Construction Company, please visit www.centex-construction.com.