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EXHIBIT 99


CENTEX CORPORATION / 3333 LEE PARKWAY, P.O. BOX 19000, DALLAS, TEXAS 75219,
TELEPHONE (214) 559-6500

{CENTEX LOGO}  NEWS
               RELEASE


                                                           FOR IMMEDIATE RELEASE


            CENTEX CORPORATION ANNOUNCES AN INITIAL PUBLIC OFFERING
           OF THE COMMON STOCK OF CENTEX CONSTRUCTION PRODUCTS, INC.

                  (Dallas, TX February 4, 1994): Centex Corporation announced
today that its construction products subsidiary, Centex Construction Products,
Inc. (CCP), has filed a registration statement for the intended sale of 10.2
million shares, or 51%, of CCP's common stock in an initial public offering. The
estimated public offering price is between $15 and $17 per share. CCP is
comprised of Centex's cement, readymix concrete, aggregate and gypsum wallboard
operations including CCP's 50% joint venture interests in its Texas and
Illinois cement plants.

                  Centex said the initial public offering by CCP is a key part
of the parent company's strategy to position its construction products business
for future growth and that CCP, as a separate publicly held company, should
significantly enhance the potential value of Centex's remaining investment in
CCP. Following completion of the offering, CCP will have a strong balance sheet
with a conservative debt-to-capitalization ratio of approximately 25%.

                  Centex will retain a 49% ownership in CCP after the
completion of the offering.  In connection with CCP's initial public offering, 
Centex Corporation expects to receive a dividend and other payments from CCP of
up to approximately $190 million, which will be used to reduce Centex's
outstanding indebtedness. CCP will use proceeds from the offering, together
with borrowings under a credit facility, to repay debt it will incur to fund
the dividend to be paid to Centex.

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CENTEX ADD 1

                   The current CCP management team, led by O.G. (Greg) Dagnan,
President and Chief Executive Officer, will continue to run the Company once
it becomes publicly held. Laurence E. Hirsch, Chairman and Chief Executive
Officer of Centex Corporation, will be Chairman of CCP.

                   The offering in the United States and Canada and the
international offering are being managed by Donaldson, Lufkin & Jenrette
Securities Corporation, Dillon Read & Co. Inc. and Lehman Brothers.

                   A registration statement relating to these securities has
been filed with the Securities and Exchange Commission but has not yet become
effective. These securities may not be sold nor may offers to buy be accepted
prior to the time the registration statement becomes effective. This
communication shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of these securities in any State in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such State.

                   Preliminary prospectuses are not yet available for 
distribution.


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For additional information, contact at (214) 559-6500:
Laurence E. Hirsch
Chairman and Chief Executive Officer

OR

Sheila E. Gallagher
Vice President--Corporate Communications