Homex Announces Change in Board of Directors

CULIACAN, Mexico, April 30 /PRNewswire-FirstCall/ -- Desarrolladora Homex, S.A.B. de C.V. (Homex or the Company) (NYSE: HXM, BMV: HOMEX), today announced that Matthew M. Zell, managing director of Equity Group Investments (EGI), who has served as Director of Homex until completion of his full term, which ended April 30, 2010, decided not stand for re-election at Homex's annual shareholder's meeting held today, due to other business commitments.

"It has been a honor to serve on Homex' Board of Directors and to watch the Company grow into the industry leader it is today," said Zell.  "It has been a pleasure to work with such a dedicated Board  and strong management team totally devoted to Homex' success. Throughout the years, Homex has shown its innovation and resiliency in the housing market and I remain confident that they will continue to thrive."

Upon proposal of Homex's Corporate Governance and Compensation Committee, Homex shareholders assembly unanimously appointed Mr. Dennis Lopez to join the Company's Board of Directors during the annual meeting held on April 30, 2010.  Lopez will take over Mr. Zell's seat effective today.

Lopez is the Chief Financial Officer of AXA Real Estate, the leading real estate investment manager in Europe with 39.5 billion euros of property assets under management. He is responsible for all of AXA Real Estate's Fund Management activities, overseeing a team of 95 fund management professionals.  

"We thank Matthew for the astute perspective and insight he has provided to the Company  over the years, " said Eustaquio de Nicolas, Chairman of the Board of Homex.  "He has been a great asset to all of us,  and we wish him well in his future endeavors. At the same time, we are confident that Dennis' global real state and financial markets expertise, as well as his counsel, judgment and independence, will prove invaluable as we continue to expand Homex."

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 in the New York Stock Exchange.

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

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