DISTRIBUTION AGREEMENT



                                     BETWEEN



                               CENTEX CORPORATION



                                       AND



                       CENTEX CONSTRUCTION PRODUCTS, INC.









                                  JULY 21, 2003





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                                TABLE OF CONTENTS



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                                                                                                     Page

                                                                                                     ----

{S}                  {C}                                                                             {C}

ARTICLE I. DEFINITIONS.................................................................................2

   SECTION 1.1       Certain Definitions...............................................................2

   SECTION 1.2       Other Defined Terms...............................................................8

ARTICLE II. THE DISTRIBUTION AND CASH DIVIDEND.........................................................9

   SECTION 2.1       The Distribution..................................................................9

   SECTION 2.2       The Cash Dividend................................................................14

   SECTION 2.3       Declaration Date; Further Assurances.............................................16

ARTICLE III. REPRESENTATIONS AND WARRANTIES...........................................................17

   SECTION 3.1       Representations and Warranties of CXP............................................17

   SECTION 3.2       Representations and Warranties of Centex.........................................18

ARTICLE IV. COVENANTS.................................................................................19

   SECTION 4.1       Access to Information............................................................19

   SECTION 4.2       Confidentiality..................................................................20

   SECTION 4.3       Litigation Cooperation...........................................................20

   SECTION 4.4       No Solicitation..................................................................21

   SECTION 4.5       Certain Post-Distribution Transactions...........................................22

   SECTION 4.6       Public Announcements.............................................................23

   SECTION 4.7       Required Consents................................................................23

   SECTION 4.8       Stockholder Rights Plan..........................................................23

ARTICLE V. INDEMNIFICATION............................................................................24

   SECTION 5.1       Indemnification by CXP...........................................................24

   SECTION 5.2       Indemnification by Centex........................................................25

   SECTION 5.3       Procedures for Indemnification...................................................26

   SECTION 5.4       Subrogation......................................................................28

   SECTION 5.5       Remedies Not Exclusive...........................................................28

   SECTION 5.6       Indemnification Payments.........................................................28

ARTICLE VI. MISCELLANEOUS.............................................................................28

   SECTION 6.1       Notices..........................................................................28

   SECTION 6.2       Interpretation...................................................................30

   SECTION 6.3       Amendments; No Waivers...........................................................30

   SECTION 6.4       Assignment.......................................................................30

   SECTION 6.5       Successors and Assigns...........................................................30

   SECTION 6.6       Governing Law....................................................................31

   SECTION 6.7       Counterparts; Effectiveness......................................................31

   SECTION 6.8       Exhibits and Schedules...........................................................31

   SECTION 6.9       Entire Agreement.................................................................31

   SECTION 6.10      Severability.....................................................................31

   SECTION 6.11      Termination......................................................................32

   SECTION 6.12      Survival of Agreements...........................................................32

   SECTION 6.13      Expenses.........................................................................32

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EXHIBITS

Exhibit A - Form of Administrative Services Agreement

Exhibit B - Form of Intellectual Property Agreement

Exhibit C - Form of Sublease Agreement





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                             DISTRIBUTION AGREEMENT



         This DISTRIBUTION AGREEMENT, dated as of July 21, 2003 (this

"Agreement"), is made between CENTEX CORPORATION, a Nevada corporation

("Centex"), and CENTEX CONSTRUCTION PRODUCTS, INC., a Delaware corporation

("CXP").



                                   WITNESSETH:



         WHEREAS, as of the date hereof, Centex owns 11,962,304 shares of Common

Stock, par value $.01 per share, of CXP ("Common Stock"), representing

approximately 65% of the outstanding shares of such class;



         WHEREAS, prior to the date upon which the Reclassification (as

hereinafter defined) is consummated, Centex will contribute 9,220,000 shares

of Common Stock (the "Contributed Shares") to ARG Merger Corporation, a Delaware

corporation and a wholly owned subsidiary of Centex ("Merger Sub") and will

continue to own 2,742,304 shares of Common Stock (the "Additional Shares");



         WHEREAS, concurrently with the execution hereof, CXP, Centex and Merger

Sub are entering into an Agreement and Plan of Merger, dated as of the date

hereof (as amended from time to time, the "Merger Agreement"), pursuant to

which, among other things, Merger Sub will merge with and into CXP (the

"Merger"), with the result that the following changes will be made to the

capital stock of CXP and Merger Sub: (i) the Contributed Shares will be canceled

and retired with no securities or other consideration issued in exchange

therefor; (ii) all of the outstanding shares of common stock of Merger Sub will

be converted into an aggregate of 9,220,000 shares (the "Class B Shares") of a

new class of common stock of the Company to be designated as Class B Common

Stock, par value $.01 per share ("Class B Common Stock"), which class will be

entitled to elect at least 85% of the members of the Board of Directors of CXP

and will in all other respects be identical to the Common Stock; and (iii) all

other shares of Common Stock held by the stockholders of CXP, including the

Additional Shares, will remain issued and outstanding (such changes, as they

relate to the capital stock of CXP, being referred to herein as the

"Reclassification");



         WHEREAS, the Board of Directors of Centex has determined that

it is desirable and in the best interests of Centex and its stockholders to

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