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 DALLAS, June 9 /PRNewswire/ -- Centex Corporation said today that

its home building subsidiary, Centex Homes, has agreed to become the lead builder in the "Homes Across America" initiative sponsored by Habitat for Humanity and the National Association of Home Builders (NAHB). The announcement was made at the NAHB convention held in Las Vegas earlier this year. For the first time, the number one producers in both 'for-profit' and 'non-profit' housing have pooled their resources to build decent, affordable housing for the nation's poor.
 Centex Corporation is the nation's largest residential builder and has operations in mortgage banking, contracting and construction services, construction products and savings and loan.
 Habitat for Humanity, whose most famous volunteer is former President Jimmy Carter, is a private, nonprofit organization which builds low-cost, no-interest housing for the working poor with volunteer labor and materials donated or purchased with donations. Each potential homeowner must qualify by making a "down payment" of "sweat equity" working on Habitat projects. They then receive an interest-free mortgage requiring monthly payments of approximately $250-$350. The payments are used by the Habitat organization to purchase lots and build more houses.
 Centex Homes builds single-family houses in 39 markets in 20 states. Centex has volunteered to build a total of 23 homes this year for Habitat, and every one of the 39 Centex Homes divisions has committed to working with the Habitat group in their local area. In addition, a number of Centex employees, including Centex Homes President and CEO Tim Eller and three executive vice presidents, have agreed to help build single-family houses in the metropolitan Washington, D.C. area as part of the Jimmy Carter Work Project. During the week of June 14-20, 1992, the group will spend their days "hammering nails and wielding paint brushes" and their nights "camping out" in a local college dormitory near the work site until the project is completed.
 Centex employees in the Dallas/Fort Worth area completed their first house for their local Habitat organization in November 1991 and have committed to building a second house during September 1992. Charleston area employees, in a construction marathon, finished their first Habitat house on April 14 in just 28 hours.
 When asked why Centex chose to participate in the "Homes Across America" program on such a national scale, Centex Homes CEO Eller commented, "It's an opportunity to give something back to the communities in which we do business. And the opportunity to work with an organization like Habitat for Humanity to build decent housing for the working poor is attractive: it's a good fit with our business, our subcontractors and suppliers can participate, it involves teamwork, and the recipients of the homes must earn the right to have a home built. As one of our project managers put it, 'We do this for a living, and we do it better than anyone, so why not help?'"
 -0- 9/9/92
 /CONTACT: Sheila Gallagher, vice president-corporate communications of Centex Corporation, 214-559-6500 or Paul Leonard, executive vice president of Centex Homes, 704-523-8111/
 (CTX) CO: Centex Corporation; Habitat for Humanity ST: Texas IN: CST SU:

KD -- NY048 -- 8467 06/09/92 15:58 EDT
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Publication:PR Newswire
Date:Jun 9, 1992

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