U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
FORM 4
ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Eller, Timothy R.
3333 Lee Parkway
Suite 1100
Dallas, TX 75219
USA
2. Issuer Name and Ticker or Trading Symbol
Centex Corporation
CTX
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
June 1996
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person to Issuer (Check all applicable)
( ) Director ( ) 10% Owner ( ) Officer (give title below) (X) Other
(specify below)
Director, President, CEO & COO of Centex Real Estate Corporation, subsidiary of
Centex Corporation
<TABLE>
<CAPTION>
___________________________________________________________________________________________________________________________________
Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Year |ect(I)| |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
Common Stock, par value $0.|6/21/9|M(1)| |2,000 |A |$13.25 | | | |
25 per share |6 | | | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
Common Stock, par value $0.|6/21/9|S(1)| |2,000 |D |$32.25 |2,610 (2) |I |Centex Corp Profit Sharing |
25 per share |6 | | | | | | | |Plan |
- -----------------------------------------------------------------------------------------------------------------------------------|
___________________________________________________________________________________________________________________________________|
<CAPTION>
___________________________________________________________________________________________________________________________________
Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
___________________________________________________________________________________________________________________________________|
1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Year |(I)| |
___________________________________________________________________________________________________________________________________|
<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Option Right to Buy (3|$13.25 |6/21/|M(1)| |2,000 |D |____(|12/31|Common Stock|2,000 | |-0- |D | |
) | |96 | | | | |4) |/96 | | | | | | |
- -----------------------------------------------------------------------------------------------------------------------------------|
| | | | | | | | | | | | | | |
___________________________________________________________________________________________________________________________________|
</TABLE>
Explanation of Responses:
(1) This exercise and/or sale was made pursuant to and in reliance upon the
exemption contained in Rule
16b-6(b).
(2) Number of shares owned as of 3/31/96 by Trustee of Centex Corporation
Profit Sharing Plan based on most
recent plan statement distributed to the Reporting Person. Number of shares has
been rounded to the nearest
whole
number.
(3) The Plan pursuant to which the reported option was granted empowers the
Stock Option Committee, in its
discretion, to allow tax withholding at the time of
exercise.
(4) Exercisable: 5,200 Shares each on December 31, 1988, 1989, 1990, 1991 and
1992.
