Centex Rooney Construction Company Breaks Ground on its Seventh Office Building Project for The Hogan Group.

Business Editors

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--March 27, 2000

Albert Petrangeli, President of Centex Rooney Construction Company, Inc. (NYSE:CTX), is pleased to announce that Centex Rooney has broken ground on another project in Miami for The Hogan Group.

The $24.9 million 703 Waterford Office Building is the seventh project to be constructed by Centex Rooney in the Waterford Corporate Park at Blue Lagoon since 1990. These office buildings and parking garage projects, consisting of two million SF of construction valued at approximately $100 million, are located in Miami adjacent to the Miami International Airport.

Construction of the 703 Waterford Office Building project commenced on March 6th. CRCC is self-performing the cast-in-place concrete work on this Class A, 260,000 SF, 10-story office building and 247,000 SF, four-story parking garage.

"Centex Rooney values its clients," states Morgan King, Senior Vice President of Centex Rooney's Miami division. "Repeat clients such as this one prove our dedication at all levels of the construction process. We look forward to continuing our stellar relationship with Hogan on this project."

Centex Rooney, Florida's largest general contractor and construction manager, is a subsidiary of Centex Construction Group, a division of Centex Corporation. Dallas-based Centex Corporation is one of America's largest home builders and non-bank-affiliated retail mortgage originators. Centex also has an investment real estate operation and owns a majority interest in a publicly held construction products company. FORTUNE magazine recently named Centex the No. 1 "Most Admired Company" in its engineering and construction category.