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CENTEX, MANGANO SIGN LETTER OF INTENT

 CENTEX, MANGANO SIGN LETTER OF INTENT
 DALLAS, Nov. 1 /PRNewswire/ -- Centex Real Estate Corporation, a


subsidiary of Centex Corporation (NYSE: CTX), and The Mangano Company, Inc. today jointly announced their signing of an agreement in principle, subject to the fulfillment of certain terms and conditions, whereby Centex would acquire a substantial portion of Mangano's operating assets. Terms of the agreement in principle were not disclosed. Closing of the transaction is expected within 30 days.
 Dallas-based Centex, the nation's largest single-family home builder, delivered 7,862 homes in 36 markets in its most recent fiscal year ended March 31, 1991. Mangano, a privately-owned home builder headquartered in Visalia, Calif., near Fresno, constructs approximately 400 homes annually.
 In addition to its home building and mortgage banking business, Centex is the nation's fourth largest domestic general contractor and also has operations in construction products and savings and loan.
 -0- 1/1/91
 /CONTACT: Sheila E. Gallagher, vice president-corporate communications of Centex Corporation, 214-559-6500/
 (CTX) CO: Centex Corporation; Mangano Company Inc. ST: Texas IN: CST SU: SH -- NY036 -- 0190 11/01/91 11:46 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Nov 1, 1991
Words:181
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