October 15, 2008

CEMEX, S.A.B. de C.V. (NYSE: CX), announced today that consolidated net sales decreased 5% in the third quarter of 2008 to US$5.8 billion versus the comparable period in 2007. EBITDA decreased 4% in the third quarter of 2008 to US$1.3 billion versus the same period of 2007, mainly due to the exclusion of our Venezuelan operations starting August 1, 2008.

CEMEX's Consolidated Third Quarter Financial and Operational Highlights

• Lower sales in the quarter were mainly the result of lower volumes which were partially mitigated by better supply-demand dynamics in most of our markets. The infrastructure sector was the main driver of demand in most of our markets.
• Free cash flow after maintenance capital expenditures for the quarter was US$957 million, down 1% from US$964 million in the same quarter of 2007.
• Operating income in the third quarter decreased 13% to US$818 million compared to US$940 million in the same period last year.

Hector Medina, Executive Vice President of Planning and Finance, said: "We are living in a time of extraordinary volatility in the financial markets in a challenging operating environment in several of the countries in which we operate. During the quarter, we had slightly better-than-expected EBITDA generation and our diversified portfolio has partially compensated for the downturn in the United States, Spain, and the United Kingdom. Going forward, we remain focused on strengthening our financial flexibility."

Consolidated Corporate Results

Majority net income decreased 74% to US$200 million in the third quarter of 2008 from US$780 million in the same period a year ago.

Net debt at the end of the third quarter was US$16.4 billion, representing a decrease of US$1.2 billion during the quarter. The net-debt-to-EBITDA ratio reached 3.4 times for the third quarter 2008 compared with 3.5 times in the second quarter 2008. Interest coverage reached 4.8 times during the quarter, up from 4.4 in the last quarter.

Main markets Third Quarter Highlights

Net sales in our operations in Mexico increased 10% during the third quarter of 2008 to US$1 billion, compared with US$950 million in the same period of 2007. EBITDA increased 21% to US$408 million versus the same period of last year.

CEMEX's operations in the United States reported net sales of US$1.2 billion in the third quarter of 2008, down 28% from the same period in 2007. EBITDA decreased 58% to US$176 million, from US$420 million in the third quarter of 2007.

In Spain, net sales for the quarter were US$370 million, down 26% from the third quarter of 2007, while EBITDA decreased 19% to US$121 million.

Our operations in the United Kingdom experienced a 19% decrease in net sales, to US$446 million, when compared with the same quarter of 2007. EBITDA decreased 48% to US$17 million in the third quarter from US$34 million in the comparable period in 2007.

Net sales in the Rest of Europe region increased 8% during the third quarter of 2008 versus the comparable period in the previous year, reaching US$1.2 billion. EBITDA was US$189 million for the region, 13% higher compared to the same quarter of 2007.

CEMEX's operations in South/Central America and the Caribbean reported net sales of US$504 million during the third quarter of 2008, representing a decrease of 4% over the same period of 2007. EBITDA decreased 12% for the quarter to US$161 million versus the same period in 2007.

Third-quarter net sales in Africa and the Middle East were US$295 million, up 49% from the same quarter of 2007. EBITDA increased 73% to US$87 million versus the comparable period in 2007.

Operations in Asia and Australia reported an 11% increase in net sales, to US$564 million, versus the third quarter of 2007, and EBITDA was US$95 million, up 6% from the same period in the previous year.

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.

EBITDA is defined as operating income plus depreciation and amortization. Free Cash Flow is defined as EBITDA minus net interest expense, maintenance and expansion capital expenditures, change in working capital, taxes paid, and other cash items (net other expenses less proceeds from the disposal of obsolete and/or substantially depleted operating fixed assets that are no longer in operation). Net debt is defined as total debt minus the fair value of cross-currency swaps associated with debt minus cash and cash equivalents. The net debt to EBITDA ratio is calculated by dividing net debt at the end of the quarter by EBITDA for the last twelve months. All of the above items are presented under generally accepted accounting principles in Mexico. EBITDA and Free Cash Flow (as defined above) are presented herein because CEMEX believes that they are widely accepted as financial indicators of CEMEX's ability to internally fund capital expenditures and service or incur debt. EBITDA and Free Cash Flow should not be considered as indicators of CEMEX's financial performance, as alternatives to cash flow, as measures of liquidity or as being comparable to other similarly titled measures of other companies.

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