CEMEX Announces Filing of Mandatorily Convertible Securities Transaction

Key terms of the Securities include:

• The conversion price will be determined by multiplying the volume-weighted average price of the CPO for 10 trading days prior to closing of the offer, times a conversion rate in the range of 1.62 to 1.65
• A coupon which will yield 10% annually, and will be payable every 91 days
• Maturity at 3,640 days from the issuance date, or approximately 10 years, unless there is a conversion event before maturity
• Mandatory conversion triggered by (among others): the price of the CEMEX CPO reaching certain thresholds, or by reaching the maturity date
• Holders will have the option to voluntarily convert, after one year of issuance, on interest payment dates
• The Securities will have stock market restrictions until March 30, 2010

CEMEX intends to place these securities with Mexican Pension Funds (Sociedades de Inversión Especializadas en Fondos para el Retiro, or SIEFORES) and other investors outside the United States that are not U.S. persons in transactions exempt from registration under the U.S. Securities Act of 1933, as amended (the “Securities Act”), in exchange for outstanding debt securities (Certificados Bursátiles) previously issued in the Mexican capital markets, which the company intends to cancel, once the exchange offer is consummated. The Securities and the CPOs issuable upon conversion have not been and will not be registered under the Securities Act or any state securities laws, and they may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act.

CEMEX is a global building materials company that provides high-quality products and reliable service to customers and communities in more than 50 countries throughout the world. CEMEX has a rich history of improving the well-being of those it serves through its efforts to pursue innovative industry solutions and efficiency advancements and to promote a sustainable future. For more information, visit www.cemex.com.

This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties, and assumptions. Many factors could cause the actual results, performance, or achievements of CEMEX to be materially different from those expressed or implied in this release, including, among others, changes in general economic, political, governmental and business conditions globally and in the countries in which CEMEX does business, changes in interest rates, changes in inflation rates, changes in exchange rates, the level of construction generally, changes in cement demand and prices, changes in raw material and energy prices, changes in business strategy, and various other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. CEMEX assumes no obligation to update or correct the information contained in this press release.

CEMEX
Media Relations
Jorge Pérez, (52-81) 8888-4334
mr@cemex.com
or
Investor Relations
Eduardo Rendón, (52-81) 8888-4256
ir@cemex.com
or
Analyst Relations
Luis Garza, (52-81) 8888-4136
ir@cemex.com