Business Editors

DALLAS--(BUSINESS WIRE)--Jan. 17, 2002

Centex Commercial Development has broken ground on a local retail project, the 100,000-square-foot Vista Ridge Marketplace, located on a 16-acre tract at the northwest corner

The 60,000-square-foot initial phase of the project -- anchored by a 30,000-square-foot Ultimate Electronics store and a 4,500-square-foot Rockfish Seafood Grill -- is targeted for completion this summer.

"Three Vista Ridge Marketplace pad sites are committed with another three still available for sale or lease," said Jimmy Grisham, a Centex Commercial Development retail director. "We believe the steady demand for retail product in the Lewisville I-35 corridor will drive the success of this project and bode well for future commercial ventures located in this area."

Centex owns approximately 142 acres of property zoned for commercial or multifamily uses along SH 121 Bypass between I-35 and Denton-Tapp Road -- an area commonly known as the Vista Ridge Business Park.

Vista Ridge Marketplace was designed by the Dallas architectural firm of Hodges & Associates and is being built by Mycon General Contractors of McKinney. Marketing and leasing information can be obtained by contacting Mike Geisler with Venture Real Estate Strategies at 214/378-1212.

Centex Commercial Development, L.P., a division of Centex Development Company, L.P. (CDC), acquires, develops, manages and sells industrial, office, retail and mixed-use projects across the United States. CDC is affiliated with Dallas-based Centex Corporation (NYSE:CTX), the nation's premier company for building and related services. The Fortune 500 company's divisions include Home Building, Home Services, Financial Services, Contracting and Construction Services, Construction Products and Investment Real Estate.