Centex Destination Properties^® develops luxury second-home and resort communities in the continental United States and Hawaii. Centex Destination Properties is part of Dallas, Texas-based Centex (NYSE: CTX), one of the nation's leading home building companies. Centex (www.centex.com), operates in major U.S. markets in 25 states and delivered more than 39,000 homes in the United States in its most recent fiscal year ended March 31, 2006. Centex consistently ranks among the most admired companies in its industry, according to FORTUNE magazine. Over the past four years, Centex Destination Properties has become the premier resort community developer in the U.S. with developments including:

Cinnamon Beach – Palm Coast, Florida
Canopy Walk – Palm Coast, Florida
The Villas at Hammock Beach – Palm Coast, Florida
Bear Lake Reserve – Tuckasegee, North Carolina
V at Lake Vegas – Lake Las Vegas, Nevada
Urban Village – South Strip Las Vegas, Nevada
Legacy Villas – La Quinta, California
Pointe West – Galveston, Texas
The Hollows – Austin, Texas
Kolea – The Big Island, Hawaii
Ko Olina Kai – West Honolulu, Hawaii