EXHIBIT 99.1







          CENTEX EXPECTS RECORD EARNINGS FOR FISCAL 2002, 2003 AND 2004
           ANNOUNCEMENT MADE AT COMPANY'S NEW YORK INVESTOR CONFERENCE

                  (DALLAS, TX Dec. 5, 2001): Centex Corporation (NYSE: CTX) said
today that the company expects to continue to report record net earnings for
fiscal years 2002, 2003 and 2004. The comments were made at Centex's 2001
Investor Conference held in New York
                  The company's Chairman and CEO Laurence E. Hirsch said Centex
expects to earn $5.85 per diluted share for fiscal 2002 ending March 31, 2002,
marking the company's sixth consecutive record year. In addition, Mr. Hirsch
said that based on current housing sales rates and the continuance of a
reasonably good economic environment, Centex anticipates diluted earnings per
share in the range of $6.85-$7.70 for fiscal 2003 and $8.25-$9.40 for fiscal
2004.
                  Mr. Hirsch cited several reasons for Centex's confidence in
the future: the company's business model; capital and balance sheet capacity;
attractive markets for its business segments; an experienced management team;
and the company's proven processes.
                  The company's conference, which also includes presentations by
other members of the senior management of Centex and its major operating
divisions, is being webcast live today from 9:00 a.m. to 3:30 p.m. through the
Centex Corporation Web site at HTTP://WWW.CENTEX.COM. To listen to the webcast,
a participant must have Windows Media Player installed (the webcast will not
work with Real Audio). Downloading the Windows Media Player software requires
approximately 15 minutes.
                  The webcast will be archived on the Centex Web site until
January 4, 2002.
                  Through its subsidiaries, Dallas-based Centex ranks among the
nation's leading home builders, non-bank-affiliated retail mortgage originators,
and general building contractors. The Company also has operations in investment
real estate and currently owns approximately 65% of a publicly held construction
products company.
                                   (M O R E)


   CENTEX EXPECTS RECORD EARNINGS FOR FISCAL 2002, 2003 AND 2004 PAGE 2 OF 2



FORWARD-LOOKING STATEMENTS. THE FOREGOING CONTAINS FORWARD-LOOKING STATEMENTS
WITHIN THE MEANING OF SECTION 27A OF THE SECURITIES ACT OF 1933, SECTION 21E OF
THE SECURITIES EXCHANGE ACT OF 1934 AND THE PRIVATE SECURITIES LITIGATION REFORM
ACT OF 1995. FORWARD-LOOKING STATEMENTS MAY BE IDENTIFIED BY THE CONTEXT OF THE
STATEMENT AND GENERALLY ARISE WHEN THE COMPANY IS DISCUSSING ITS BELIEFS,
ESTIMATES, OR EXPECTATIONS. THESE STATEMENTS ARE NOT GUARANTEES OF FUTURE
PERFORMANCE AND INVOLVE A NUMBER OF RISKS AND UNCERTAINTIES. ACTUAL RESULTS AND
OUTCOMES MAY DIFFER MATERIALLY FROM WHAT IS EXPRESSED OR FORECAST IN SUCH
FORWARD-LOOKING STATEMENTS. THE PRINCIPAL RISKS AND UNCERTAINTIES THAT MAY
AFFECT THE COMPANY'S ACTUAL PERFORMANCE AND RESULTS OF OPERATIONS INCLUDE THE
FOLLOWING: GENERAL ECONOMIC CONDITIONS AND INTEREST RATES; THE CYCLICAL AND
SEASONAL NATURE OF THE COMPANY'S BUSINESSES; ADVERSE WEATHER; CHANGES IN
PROPERTY TAXES AND ENERGY COSTS; CHANGES IN FEDERAL INCOME TAX LAWS AND FEDERAL
MORTGAGE FINANCING PROGRAMS; GOVERNMENTAL REGULATION; CHANGES IN GOVERNMENTAL
AND PUBLIC POLICY; CHANGES IN ECONOMIC CONDITIONS SPECIFIC TO ANY ONE OF MORE OF
THE COMPANY'S MARKETS AND BUSINESSES; COMPETITION; AVAILABILITY OF RAW
MATERIALS; AND UNEXPECTED OPERATIONS DIFFICULTIES. OTHER RISKS AND UNCERTAINTIES
MAY ALSO AFFECT THE OUTCOME OF THE COMPANY'S ACTUAL PERFORMANCE AND RESULTS OF
OPERATIONS.


For additional information, contact at 214/981-5000:
Laurence E. Hirsch
Chairman and Chief Executive Officer

Sheila E. Gallagher
Vice President-Corporate Communications