May 30, 1997

CEMEX announced that at approximately 1:00 PM today there was an accident at the Ibague plant of Cementos Diamante, the Colombian subsidiary of the company. The accident was caused by a spill of hot material in the area of the kilns.

There were 4 deaths in the accident, of which 3 occurred at the site of the accident and the fourth later in the hospital, as well as 12 injuries of various degrees. One of the injured has since been released from the hospital.

CEMEX expressed its concern for the unfortunate accident and reiterated that it will make available all resources necessary to attend to the injured, as well as the families of the deceased.

The proper authorities have been notified and are currently investigating the cause of the accident. The plant does not represent any further risk for its employees.

Juan Romero, President of CEMEX Colombia, said that "This unfortunate accident saddens us because of the loss of our colleagues and the injuries received by the others. At Diamante we have always made an effort to ensure the highest standards of security, and we will investigate in depth, along with the authorities, the causes of this accident in order to eliminate any possibility of this tragic event being repeated ."