June 4, 1999

CEMEX, S.A. de C.V. (CMXBY:OTC) today announced the completion of its dividend election program. A percentage of 86.27% of the shareholders elected the CPOs, for a total of 47,379,116 CPOs issued on June 4, 1999. The remaining 13.73% of shareholders elected to receive the $1.30 pesos per share cash dividend, for a total of approximately $255 million pesos (US$27 million) paid by CEMEX.

Under this dividend program, CEMEX shareholders elected to receive a cash dividend of $1.30 pesos per share or its equivalent in CPOs (representing series A shares) valued at a price of $33.84 pesos per CPO, a 20% discount to the arithmetic average of opening and closing prices on June 3, 1999, in the Mexican Bolsa.

Founded in 1906, CEMEX is one of the three largest cement companies in the world with approximately 61 million metric tons of production capacity. Through operating subsidiaries positioned in three different continents, CEMEX is engaged in the production, distribution, marketing and sale of cement, ready-mix concrete, aggregates and clinker. In addition, the company is the world´s leading producer of white cement and the world´s largest trader of cement and clinker.