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CENTEX ANNOUNCES TWO-FOR-ONE COMMON STOCK SPLIT

 CENTEX ANNOUNCES TWO-FOR-ONE COMMON STOCK SPLIT
 DALLAS, July 30 /PRNewswire/ -- Centex Corporation (NYSE: CTX)


announced today that its board of directors has authorized a two-for-one split of its common stock. The split will be effected by the issuance of one additional share of common stock for each share outstanding on the record date, doubling the number of outstanding shares. Centex said its stock split will be effective for stockholders of record as of Aug. 10, 1992. Stock certificates for the newly-issued shares will be mailed on Aug. 31, 1992.
 Centex is the nation's largest home builder and fifth largest building contractor and also has operations in mortgage banking, construction products and savings and loan.
 In fiscal 1987, Centex created 3333 Holding Corporation (Holding) and Subsidiary and Centex Development Company, L.P. (CDC), a master limited partnership, to conduct certain real estate development and other activities. Ownership interests in Holding and CDC, separate entities from Centex, currently trade in tandem with the Centex's common stock. Since each share of Centex common stock also represents an ownership interest in Holding and CDC, holders of Centex common stock, as a result of the stock split, will retain proportionate ownership interests in these entities.
 The company's previously announced dividend of 10 cents per share payable on Oct. 5, 1992 to stockholders of record as of Sept. 14, 1992 will be 5 cents per share on the larger number of shares, the same as the quarterly dividend rate on shares outstanding after the split. At the close of business on Wednesday, July 29, 1992, there were 15,236,836 shares of Centex common stock outstanding.
 The company said that the Board's action on the stock split reflected confidence in Centex's future as well as the company's desire to maintain the stock's liquidity and keep Centex shares affordable for a broad range of investors.
 As announced last week, Centex's earnings per share for the quarter ended June 30, 1992, the first quarter of its 1993 fiscal year, rose 70 percent to $.63 from $.37 for the same quarter last year on a 2 percent increase in revenues. The company also reported a June 30, 1992 home sales backlog of 4,567 units, up 47 percent from the June 30, 1991 backlog, and originated a record 7,897 loans during the quarter.
 -0- 7/30/92
 /CONTACT: Laurence E. Hirsch, chairman and CEO, or Sheila E. Gallagher, vice president-corporate communications, 214-559-6500, of Centex/
 (CTX) CO: Centex Corporation ST: Texas IN: CST SU:


SH -- NY019 -- 4973 07/30/92 09:42 EDT
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Publication:PR Newswire
Date:Jul 30, 1992
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