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Homex Delivers First Homes at Sao Jose dos Campos, Brazil

December 22, 2009

CULIACAN, Mexico, Dec. 22 /PRNewswire-FirstCall/ — Desarrolladora Homex,
S.A.B. de C.V. (Homex or the Company) (NYSE: HXM, BMV: HOMEX) today announced
the timely delivery of the first homes at its affordable entry-level project,
Jardin das Paineiras, at Sao Jose dos Campos, Brazil. Jardin das Paineiras is
a development that will ultimately comprise 1,300 units, and is the Company’s
first international pilot project.

At ceremonies marking the event were representatives from the Caixa
Economica Federal, the main source of financing for Homex’ clients in Brazil,
and Sao Paulo’s State Government Housing Secretariat, as well as the Company’s
first satisfied customers. Gerardo de Nicolas, Homex’ CEO, delivered the first
15 homes from the first stage of the Company’s Jardin das Paineiras project.

Through the successful delivery of these first homes, Homex has proven its
ability to replicate its vertically integrated business model across borders.
Undeserved foreign housing markets offer important business expansion
opportunities for Homex while the Company continues to gain market share in
Mexico, its home market. The Company’s expansion into the Brazilian market is
most timely, as housing has become an important focus of the Brazilian
government as a means to support social and economic development, under its
program inaugurated in 2009 dedicated to low income families entitled “ Minha
Casa
, Minha Vida.” The initiative of Brazilian President Lula is intended to
finance one million affordable entry-level homes through an investment of
R$34 billion.

“We feel very pleased as we witness the successful initial results of our
first international project, the result of a smooth execution of our proven
business model, which we have been fine-tuning for more than 20 years in
Mexico. Today, we are exporting those proven processes that will give us a
competitive advantage in the Brazilian market at the same time that we build
high quality homes, suitable to our customers’ needs and desires, which
benefit from Homex’ efficient business model and cutting-edge construction
technology,” commented de Nicolas.

“Adapting Homex’ business model to the Brazilian market has been an
enriching experience as well, since we have been innovating in many positive
ways here in the country. As an example, our customers from day one are in
direct contact with our unique sales process and sales team, learning about
our comprehensive product offering, as well as the extensive amenities that we
will incorporate into our developments, including our parks, kindergarten and
elementary schools, sports facilities and activities and other socially-
oriented programs. At the same time our customers benefit from efficiencies
provided by our proprietary IT platform and unique construction technology to
provide them with the highest quality homes for their families,” said Erika
Taboada
, head of Homex’ Brazil division.

“With the success of this initial phase of our development here at Sao
Jose dos Campos, I am most confident that we have a very workable business
model that will lead us to achieving continued improvement in profitability
and working capital management, while at the same time gaining traction with
our customers as the homebuilder of choice in this market,” added Ms. Taboada.

“To see the satisfaction and amazement on the faces of our customers who
are receiving their homes in record timing and who have received personalized
and professional service by our sales force and administrative personnel
during the entire process gives us even more energy to continue with our
projects here in Brazil, where seven million families are in need of homes.
For us, it is very gratifying to be able to improve the quality of life for
hard working families. At the same time, we also feel very proud to be an
active contributor to the economic development of the region, as we have
generated approximately 550 jobs in Brazil during our first eight months of
operation,” de Nicolas concluded.

About Homex

Desarrolladora Homex, S.A.B. de C.V. is a leading, vertically integrated
home-development company focused on affordable entry-level and middle-income
housing in Mexico. It is one of the most geographically diverse homebuilders
in the country. Homex has a leading position in the top four markets in the
country, is the largest homebuilder in Mexico, based on the number of homes
sold, accumulated revenues and net income, and the only company in the sector
with its shares fully listed on the New York Stock Exchange.

For additional corporate information please visit the Company’s web site
at: http://www.homex.com.mx

SOURCE Desarrolladora Homex, S.A.B. de C.V.


Source: newswire



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