Ownership Structure

Since June 29, 2004, the date that the company completed its Initial Public Offering through December 31, 2010, Homex has maintained a full dual-listing at the New York Stock Exchange (NYSE ) and the Mexican Stock Exchange (BMV). As of year-end 2010, Homex had a total of 334.7 million shares outstanding and a market capitalization of Ps.23,432 million or U.S.$ 1,8921. Of total outstanding shares at year-end, 64.9 percent represented free-floating shares among public individual and institutional investors, while the Homex founding group, the de Nicolas family, held ownership of 35.1 percent. According to publically available fillings, Lazard Lazard Asset Management, L.L.C., a core-value focus investor, based in the U.S., was the company’s second largest shareholder with approximately 14.2 percent of total equity ownership. Institutional investors, including Lazard Asset Management, dominate Homex shareholder structure, accounting for 80 percent of the free float ownership.

On a by-region analysis, the majority of Homex’ investors, (including its common shares and ADR’s) were concentrated in the U.S., with 54 percent ownership, followed by the U.K. and Mexico with 10 percent each.

Homex shareholder ownership structure by investment type is concentrated in three major groups: Core Growth oriented investors with 22 percent, Core Value- oriented investors with 17 percent and investors following a Growth at a Reasonable Price (GARP) style represented 15 percent.

Investor Relations Outreach

At Homex’ Investor Relations department, maintaining active, clear, transparent and timely communications with shareholders, investors and market analysts, is a top priority. It is acknowledged that credibility is critical to the market valuation process. The company’s Investor Relations department reports directly to the Chief Financial Officer, at the same time maintaining a close relationship with the Chief Executive Officer, while ensuring a direct communication channel throughout the Homex Management team.

During 2010, Homex participated in several Equity and Fixed income conferences through USA, Europe and Asia including, among others: Morgan Stanley Latin America CEO Conference, Santander’s Annual Latin American Conference and Construction and Homebuilding Latin American conference at London, Mexican Housing Day at New York and London, UBS 11th Annual CEO Round Table, ITAU Annual Latin American CEO Conference at New York, Deutsche Bank Global Emerging Markets Conference, Goldman Sachs Latin America One-on-One Conference, HSBC 2nd Latin America China Investors Forum at Hong Kong, Latin Finance 2nd Latin America China Investors Forum at Beijing. In addition, Homex conducted a Non-Deal Road Show with Credit Suisse and Merrill Lynch with key institutional investors.

Importantly, during the second quarter of 2010 we held our Annual Homex Investor and Analyst Day, as a proactive strategy to explain to shareholders, analysts and investors, Homex’ main initiatives and results in depth and through operating management. During the 2010 event, Homex’ divisional Vice Presidents (Mexico, Tourism and International) presented their strategies and outlook for the year. Additionally, Homex’ CFO and CEO discussed the company’s long-term corporate and financial strategies.

Analyst Coverage

Homex actively pursues the coverage of well known sell side analysts to maintain the company’s visibility within the financial community. As of December 31, 2010, Homex was covered by 19 publishing analysts, including local analysts in Mexico.