94GM Nationwde. 25

RNS No 3353u
CEMEX S.A. DE C.V.
17th October 1997


  CEMEX ACQUIRES MINORITY PARTCIPATION IN PHILIPPINE CEMENT PRODUCER RIZAL

Monterrey, Mexico, October 17, 1997. - CEMEX SA de C.V. (OTC.CMXBY) today
announced the acquisition of a 30% minority stake in Philippine company Rizal
Cement Inc, confirming the successful completion of the negotations previously
announced. Cemex aiso signed an agreement to provide technical and consulting
services to Rizal.

The transaction closed on October 16 and was executed through a Cemex subsidiary
owned by Valenciana de Cementos.

The two plants for which Cemex will provide technical assistance have a total
cement production capacity of 2.8 million tons per year.

The Philippines is the third largest cement market in Southeast Asia, after
Thailand and Indonesia, and accounts for 12% of the region's total market.
During the last ten years the Philippine market has experienced a compound
annual growth rate greater than 10%.

Cemex has had a presence in the region for the fast few years through its
Singapore office, which manages its trading activities as well as performes
analysis of the local industry.

This acquisition is consistent with Cemex' geographic diversification and
financial strategy and seeks to take advantage of the company's operational
expertise, which has been proven throughout its international operations. This
investment in South East Asia enhances the stability of the company's cash flow
and generates greater flexibility in the financial structure.

Cemex Investment Holdings Asia Pte. Ltd., a Singapore based subsidiary of
Valenciana will be the company through which this acquisition and others in the
region will be made. Although Valenciana de Cementos will supply the initial
capital, in coming months institutional investors will provide up to 75% of the
subsidiary's total capital.

Founded in 1906, Cemax is the largest cement producer in the Americas and one
of the three most important producers of cement in the world, with a production
capacity of approximately 50 million metric tons per year. Cemex is the market
leader in its operations in Mexico, Spain, Venezuela, Panama, and the Dominican
Republic; and has a significant presence in the markets of Colombia, the
Caribbean, and the southwest region of the United States of America.


END

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