UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
[ ] Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue.
1. Name and Address of Reporting Person(s)
Albright, Michael S.
Centex Corporation
2728 N. Harwood, 9th Floor
Dallas, TX 75201-1516
2. Issuer Name and Ticker or Trading Symbol
Centex Corporation (CTX)
3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)
4. Statement for Month/Year
12/99
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[ ] Director [ ] 10% Owner
[X] Officer (give title below) [ ] Other (specify below)
SVP - Administration
7. Individual or Joint/Group Filing (Check Applicable Line)
[X] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
<TABLE>
<CAPTION>
Table I Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Security 2)Trans- 3.Trans- 4.Securities Acquired(A) 5)Amount of 6) 7)Nature of
action action or Disposed of (D) Securities Indirect
Date Code A Beneficially D Beneficial
(Month/ or Owned at or Ownership
Day/Year) Code V Amount D Price End of Month I
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C><C> <C> <C><C>
Common Stock 32 D Direct
Common Stock 3,098 I by 401(k) Plan
Common Stock 12/29/99 M 20,000 A $8.5625 I by Family Ltd Ptr
shp
Common Stock 12/29/99 M 4,000 A $8.8750 I by Family Ltd Ptr
shp
Common Stock 12/29/99 M 6,000 A $12.5625 30,000 I by Family Ltd Ptr
shp
<CAPTION>
Table II (PART 1) Derivative Securities Acquired, Disposed of, or Beneficially Owned (Columns 1 through 6)
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Derivative 2)Conversion 3)Trans- 4)Trans- 5)Number of Derivative 6)Date Exercisable and
Security or Exercise action action Securities Acquired (A) Expiration Date
Price of Date Code or Disposed of (D)
Derivative
Security Code V A D Exercisable Expiration
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Non-Qualified Stock Option $8.5625 12/28/99 J (1) V 20,000 04/01/97 04/01/01
(right to buy)
Non-Qualified Stock Option $8.8750 12/28/99 J (1) V 4,000 07/19/96 07/19/00
(right to buy)
Non-Qualified Stock Option $12.5625 12/28/99 J (1) V 6,000 04/25/97 05/25/04
(right to buy)
Non-Qualified Stock Option $17.5625 04/01/07
(right to buy)
Non-Qualified Stock Option $38.6875 04/01/08
(right to buy)
Non-Qualified Stock Option $8.5625 12/28/99 J (1) V 20,000 04/01/97 04/01/01
(right to buy)
Non-Qualified Stock Option $8.5625 12/29/99 M 20,000 04/01/97 04/01/01
(right to buy)
Non-Qualified Stock Option $8.8750 12/28/99 J (1) V 4,000 07/19/96 07/19/00
(right to buy)
Non-Qualified Stock Option $8.8750 12/29/99 M 4,000 07/19/96 07/19/00
(right to buy)
Non-Qualified Stock Option $12.5625 12/28/99 J (1) V 6,000 04/25/97 05/25/04
(right to buy)
Non-Qualified Stock Option $12.5625 12/29/99 M 6,000 04/25/97 05/25/04
(right to buy)
<CAPTION>
Table II (PART 2) Derivative Securities Acquired, Disposed of, or Beneficially Owned (Columns 1,3 and 7 through 11)
- ------------------------------------------------------------------------------------------------------------------------------------
1)Title of Derivative 3)Trans- 7)Title and Amount 8)Price 9)Number of 10) 11)Nature of
Security action of Underlying of Deri- Derivative Indirect
Date Securities vative Securities D Beneficial
Amount or Security Beneficially or Ownership
Number of Owned at I
- Title Shares End of Month
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Non-Qualified Stock Option 12/28/99 Common Stock 20,000 0 D Direct
(right to buy)
Non-Qualified Stock Option 12/28/99 Common Stock 4,000 0 D Direct
(right to buy)
Non-Qualified Stock Option 12/28/99 Common Stock 6,000 0 D Direct
(right to buy)
Non-Qualified Stock Option Common Stock 47,400 47,400 D Direct
(right to buy)
Non-Qualified Stock Option Common Stock 48,000 48,000 D Direct
(right to buy)
Non-Qualified Stock Option 12/28/99 Common Stock 20,000 I by Family Ltd
(right to buy) Ptrshp
Non-Qualified Stock Option 12/29/99 Common Stock 20,000 0 I by Family Ltd
(right to buy) Ptrshp
Non-Qualified Stock Option 12/28/99 Common Stock 4,000 I by Family Ltd
(right to buy) Ptrshp
Non-Qualified Stock Option 12/29/99 Common Stock 4,000 0 I by Family Ltd
(right to buy) Ptrshp
Non-Qualified Stock Option 12/28/99 Common Stock 6,000 I by Family Ltd
(right to buy) Ptrshp
Non-Qualified Stock Option 12/29/99 Common Stock 6,000 0 I by Family Ltd
(right to buy) Ptrshp
<FN>
Explanation of Responses:
(1)
The Reporting Person transferred his nonqualified stock option for consideration to his family limited partnership. The Reporting
Person, who is a general partner of his family limited partnership, claims an exemption for this transaction under Rule 16a-13
because the transaction is merely a change in the form of beneficial ownership.
</FN>
</TABLE>
SIGNATURE OF REPORTING PERSON
/S/ Albright, Michael S.
DATE 01/04/00
