Kim and we have more news from last night ... another deal and more deals. CAIS ($12.50) has nothing over CLWK ... IMHO which is based on my DD.
Centex Homes and ClearWorks.net Affiliate to 'Future-Proof'
Centex Homes and ClearWorks.net Affiliate to 'Future-Proof' New Houses
Business Editors/Technology Writers
HOUSTON--(BUSINESS WIRE)--June 16, 1999--Centex Homes, a
subsidiary of Centex Corporation (NYSE:CTX), one of the nation's
largest producers of single-family detached housing, and
ClearWorks.net (OTC BB:CLWK) today jointly announced that
ClearWorks.net will be "future-proofing" the majority of Centex's new
home construction in Houston and surrounding areas.
According to John Diaz, president of ClearWorks Residential
Services Inc., a wholly owned subsidiary of ClearWorks.net, the
cooperation with Centex Homes is a "citywide deployment" that enables
families purchasing new Centex-built homes to have them pre-wired for
future upgrades.
"In effect," Diaz explained, "we're teaming up with Centex Homes
to give homeowners the opportunity to have a high-tech,
commercial-quality environment right in their homes. As more and more
people office at home, trade stocks from home, or utilize the Internet
for research, shopping, entertainment and communications, they'll need
the type of Internet speeds, networking and other access to other
features at home similar to what they're used to at their workplace.
"So what Centex and ClearWorks.net are doing," Diaz continued,
"is offering homebuyers a unique opportunity to 'future-proof' their
homes. We let them take advantage of all the latest technology now, so
they'll be well-equipped far into the future."
And, it is not just about the future. Homebuyers can already
utilize the technology to do things like running IBM's (NYSE:IBM) Home
Director in their ClearWorks-powered Centex homes. It allows
homeowners to access and manage their home's lighting and
heating/air-conditioning units and to monitor their security systems
through their TV or personal computer.
Centex Homes, under terms of the affiliation, will have
ClearWorks.net future-proof virtually all of its new homes constructed
in the greater Houston area. The basic ClearWorks.net pre-wiring comes
automatically at no cost to the homeowner. However, each homeowner can
choose from a wide variety of additional options and upgrades.
Before construction of the house is begun by Centex, the
homebuyer chooses the multimedia features he or she desires and where
they want the outlets to be located. "ClearWorks.net will then cable
the home, enabling it to be upgraded as needed. We also have the
capability to retrofit existing homes," Diaz added.
Centex Homes, which is projected to build approximately 1,000
homes this year in the greater Houston area, is currently affiliated
with ClearWorks.net in four under-construction Houston residential
subdivisions. These include the 1,200-home Canyon Gate at Northpointe
development, where Centex has sold homes at a record pace, helped in
part by the inclusion of ClearWorks.net's Bundled Digital Services(SM)
in its houses. Services at Northpointe -- provided by ClearWorks.net
-- include Internet connections at a bi-directional speed of up to 100
megabits per second (2,000 times faster than with a standard 56k modem
dial-up connection), digital telephone service with add-ons such as
voice mail and caller ID, digital cable TV with no channel
limitations, on-demand video rentals, closed-circuit security
capabilities, a community intranet and other features.
Centex Homes is a subsidiary of Centex Corporation, one of the
nation's premier companies focusing on building and related
financial-services businesses. Centex has annual revenues over $5
billion and trades on the New York Stock Exchange under the symbol
CTX. The company has more than 13,000 employees located in more than
1,000 offices and job-construction sites across the nation. Centex
operates in five business segments: home building, investment real
estate, financial services, construction products and contracting and
construction services. The Company also has a 61% equity interest in
Centex Construction Products Inc.
Certain statements in this release are forward-looking. Although
ClearWorks.net (the Company) believes its expectations are based on
reasonable assumptions within the bounds of its knowledge of its
business and operations, there can be no assurance that actual results
will not differ materially from its expectations. Merger
Communications (Merger) is a media relations firm employed by the
Company. Statements and opinions presented here represent the views of
the Company, not Merger, as the release is based on information
provided by the Company. Merger and the Company believe that all
information in this release has been obtained from sources considered
reliable, but cannot guarantee that the statements presented herein
are accurate or complete. Merger's compensation for its media
relations services consists of a fee and stock. Merger can have a long
position in the securities of the companies in which it distributes
information for media use, and may be buying or selling securities in
the course of its regular business.
--30--EB/ho*
CONTACT: Merger Communications, Houston
David Drake, 713/267-2328
or
Patricia Cunningham, 713/267-2328
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