Centex Rooney awarded Osceola County Public Schools continuing works contract

Business Wire, April 1, 1997

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--April 1, 1997--Centex Rooney Construction Co. Inc. announced Tuesday that it has been awarded a continuing works program by the Osceola County Public Schools, valued at $6.2 million.

Al Petrangeli, senior vice president for Centex Rooney, said the program involves improvements to approximately 20 public schools in Osceola County and ranges from air conditioning, lighting and communications systems improvements to fire alarms and American Disability Act requirements.

Centex has a proven track record of success in the Osceola County School District. In December 1996, Centex completed an $8.7 million Osceola County High School renovation project. Renovations to St. Cloud High School are presently underway and are scheduled for substantial completion in early 1998. Centex is currently building Celebration, a $20 million K-12 School in Osceola County.

Judy Robertson, Osceola County School Board chairman said,"Centex was selected for the continuing works project because of their quality performance with Osceola High, St. Cloud and the soon-to-be Celebration school." She added, "The legislature has given school boards the right to use construction management and Centex has given construction management a good name. We tell other districts that with the right construction company, construction management works and works very well."

Petrangeli says the continuing works contract is for one year with renewals and is expected to include miscellaneous contracts over the next five years.

"We have developed a solid working relationship with Osceola Public Schools and we look forward to continuing to work with them well into the future," said Petrangeli.

Centex Rooney Construction Co. Inc. is a 64-year-old Florida-based builder headquartered in Fort Lauderdale with regional offices in Miami, Orlando, Fort Myers, and Jacksonville. Centex Rooney, Florida's largest general contractor and construction manager, is a subsidiary of Centex Construction Group, a division of Centex Corp. Dallas-based Centex Corp., a New York Stock Exchange company (symbol:CTX), also is one of America's largest home builders and single-family mortgage originators.

CONTACT: Centex Rooney Construction Co. Inc., Fort Lauderdale

Larry Casey, 954/771-7122 phone

954/776-4857 fax