CEMEX Provides Guidance for the First Quarter of 2008

MONTERREY, Mexico--(Business Wire)--
CEMEX, S.A.B. de C.V. (NYSE: CX) announced today that it expects
EBITDA for the quarter ending March 31, 2008 of around US$920 million,
an increase of about 6% versus the same period last year, while
operating income is expected to be close to US$420 million, 25% lower
than the same period a year ago. Sales for the first quarter are
expected to be in excess of US$5.3 billion, an increase of about 24%
versus the same period last year. Adjusting for the fewer business
days versus the same period last year as a result of the earlier
occurrence of religious holidays, which last year took place during
the second quarter, sales and EBITDA would be expected to increase by
about 27% and 10%, respectively, versus first quarter 2007.

On a pro-forma basis for the continuing operations, adjusting for
the consolidation of Rinker, sales and EBITDA for the quarter are
expected to decrease 1% and 22%, respectively, in U.S. dollar terms,
versus the same quarter last year.

Rodrigo Trevino, CEMEX's Chief Financial Officer, said: "Despite
continued weakness in some of our markets, our fundamentals remain
unchanged. Given our expectations for the quarter -- together with the
unfavorable comparison with first quarter 2007, which was
characterized by benign weather conditions in the United States and
most of Europe -- we are in line with our yearly expectations. We
maintain our full year guidance to generate EBITDA and free cash flow
after maintenance capital expenditures of about US$5.6 billion and
US$3.0 billion, respectively, given the stronger exchange rate
environment. This is also despite the U.S. residential sector downturn
and softening demand in markets like Spain and U.K. Our geographic
diversification continues to mitigate the impact of individual
countries in our portfolio."

"Additionally, we identified and are now capturing synergies worth
about $400 million from the integration of Rinker, US$200 million of
which are expected to be realized this year. Moreover, we expect to
produce cost savings to improve efficiency, that coupled with savings
from our post-merger integration effort, will reduce the ratio of SG&A
to sales by around 150 basis points this year."

"Furthermore, we remain committed to regain our financial
flexibility. We expect to reach a net-debt-to-EBITDA ratio of 3.0
times by the end of this year and of 2.7 times by mid-2009."

During the first quarter, CEMEX expects domestic cement and
ready-mix sales volumes in Mexico, adjusted for the fewer business
days during the quarter given religious holidays, to decline about 4%
and 12% respectively versus the comparable period last year. Domestic
cement and ready-mix sales volumes in Mexico are expected to decrease
by about 7% and 14%, respectively, versus the same quarter a year ago.
Volumes during the quarter have been negatively affected by a delay in
project starts from the infrastructure sector, but which are expected
to recover during the second half of the year. The formal residential
sector continued with its strong performance.

Cement, ready-mix and aggregates volumes for CEMEX's operations in
the United States are expected to decrease about 5%, increase about
33%, and increase about 115%, respectively, during the first quarter,
versus the same period last year.

On a like-to-like basis for the ongoing operations, cement volumes
are expected to decrease by about 23%, ready-mix volumes are expected
to decrease by about 27%, and aggregates volumes are expected to
decrease by about 26% for the quarter versus the comparable period
last year.

The decline in demand continues to be driven by the ongoing
correction in the residential sector which makes comparisons in the
current quarter on a like-to-like basis unfavorable versus prior year.
In addition, adverse weather conditions in many regions of the
country, including Florida, California, Arizona and Nevada, affected
our volumes during the quarter.

In our Spanish operations, and on a like-to-like basis adjusting
for the fewer business days during the quarter, cement and ready-mix
volumes, are expected to decline about 12% and 11% respectively when
compared to the same period a year ago. Cement and ready-mix volumes
are expected to decrease by about 15% and 13%, respectively, during
the first quarter versus the comparable period of last year. Volumes
during the quarter have been affected by the continued deceleration in
the residential sector. Growth in the civil sector has moderated due
to the general elections held at the beginning of the month.

During the first quarter, CEMEX expects cement volumes in the
United Kingdom to decrease by about 6%, ready-mix volumes are expected
to decrease by about 11%, and aggregates volumes are expected to
remain stable versus the comparable quarter last year. On a
like-to-like basis, adjusting for the fewer business days during the
quarter and, in the case of ready-mix, the divestments done during
2007, cement and ready-mix volumes are expected to decrease by about
1%, and aggregates volumes are expected to increase by about 5% versus
the comparable period of last year. The volume for cementitious
materials, including cement and slag, is expected to decrease by about
5%, for the quarter versus the comparable period of last year.
Adjusting for the fewer business days during the quarter, the volume
for cementitious materials is expected to increase by about 1% versus
the same period in 2007. The industrial and commercial sector, and to
a lesser extent, the infrastructure sector, were the main drivers of
demand in the country.

Despite the weakness in some of our major markets, our geographic
diversification has helped partially mitigate the impact of those
slowdowns, which will be somewhat offset by continuing strength in our
Eastern Europe, South America and Australia businesses.

Guidance numbers are calculated on the basis of market close
exchange rates as of March 13, 2008. Given the volatility of foreign
exchange rates and the exposure of our operations to factors beyond
our control, our actual results could be materially different from our
indicative guidance.

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, weather conditions,
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 derived from 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.

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

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