CEMEX's Second Quarter 2008 Net Sales Increase 29%; EBITDA up 21%

MONTERREY, Mexico--(Business Wire)--
CEMEX, S.A.B. de C.V. (NYSE: CX), announced today that
consolidated net sales increased 29% in the second quarter of 2008 to
US$6.3 billion versus US$4.9 billion in the comparable period in 2007.
EBITDA increased 21% in the second quarter of 2008 to US$1.4 billion
from US$1.1 billion in the same period of 2007.

CEMEX's Consolidated Second Quarter Financial and Operational
Highlights

-- Higher sales were mainly a result of the integration of Rinker
as well as better supply-demand dynamics in most of our
markets.

-- Free cash flow after maintenance capital expenditures for the
quarter was US$739 million, up 31% from US$562 million in the
same quarter of 2007.

-- Operating income increased 12% during the quarter compared
with the same period last year, reaching US$899 million.

Hector Medina, Executive Vice President of Planning and Finance,
said, "Our consolidated results for the second quarter show the
strength of our business model, characterized by our international
presence and diverse asset portfolio. We achieved significant
increases in net sales while further reducing our debt level, even in
the face of the continued downturn in the United States' residential
sector and the downturn in the Spanish economy. Looking ahead, we
remain focused on strengthening our financial flexibility while
continuing to drive solid returns for our shareholders."

Consolidated Corporate Results

Majority net income decreased 27% to US$444 million in second
quarter 2008 from US$611 million in the same period a year ago.

Net debt at the end of the second quarter was US$17.6 billion,
representing a reduction of $US1.2 billion during the quarter. The
net-debt-to-EBITDA ratio reached 3.5 times for second quarter 2008
compared with 3.7 times in first quarter 2008. Interest coverage
reached 4.4 times during the quarter, down from 8.9 times a year ago.

Major Markets Second Quarter Highlights

Net sales in our operations in Mexico increased 12% in the second
quarter of 2008 to US$1.1 billion, compared with US$967 million in the
second quarter of 2007. EBITDA increased 16% to US$413 million versus
the same period of last year.

CEMEX's operations in the United States reported net sales of
US$1.3 billion in the second quarter of 2008, up 38% from the same
period in 2007. EBITDA decreased 4% to US$233 million, from US$242
million in the second quarter of 2007.

In Spain, net sales for the quarter were US$481 million, down 8%
from the second quarter of 2007, while EBITDA decreased 10% to US$140
million.

Net sales in the Rest of Europe region increased 27% during the
second quarter of 2008 versus the comparable period in the previous
year, reaching $1.3 billion. EBITDA was $208 million for the region in
the second quarter of 2008, up 29% from the same period in the
previous year.

CEMEX's operations in South/Central America and the Caribbean
reported net sales of US$607 million during the second quarter of
2008, representing an increase of 20% over the same period of 2007.
EBITDA increased 19% for the quarter to US$205 million versus the same
period in 2007.

Second-quarter net sales in Africa and the Middle East were US$286
million, up 60% from the same quarter of 2007. EBITDA increased 69% to
US$78 million for the quarter versus the comparable period in 2007.

Operations in Asia and Australia reported a 468% increase in net
sales, reaching US$614 million, versus the second quarter of 2007, and
EBITDA was US$119 million, up 303% from the same period in the
previous year. This increase was mainly due to the integration of
Rinker's Australian operations.

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.

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.

CEMEX
Media Relations
Jorge Perez, (52-81) 8888-4334
or
Investor Relations
Eduardo Rendon, (52-81) 8888-4256
or
Analyst Relations
Luis Garza, (212) 8888-4136

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