November 14, 2008

CEMEX, S.A.B. de C.V. (NYSE: CX) announces that it has selected BBVA, Citi, HSBC, RBS and Banco Santander, S.A. to lead a global effort to i) negotiate joint bilateral facilities for CEMEX, S.A.B. de C.V. and CEMEX España S.A. that will replace existing bilateral facilities with a group of banks, and ii) amend certain existing syndicated loan facilities.

Completion of these transactions, including the amendments, may, depending on the facility, require majority consent from the lenders under the corresponding facility. If consents are obtained, CEMEX would achieve greater financial flexibility by lengthening the maturity of the bilateral and syndicated facilities.

CEMEX is a growing 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.

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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 and no assurance can be given of the outcome of these negotiations with the banks.

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