ISDA®
INTERNATIONAL SWAPS AND DERIVATIVES ASSOCIATION, INC.

NEWS RELEASE

For Immediate Release, Monday, December 14, 2009

For More Information, Please Contact:

Cesaltine Gregorio, ISDA New York, +1 212-901-6019, cgregorio@isda.org

Deirdre Leahy, ISDA New York, +1 212-901-6021, dleahy@isda.org

Donna Chan, ISDA Hong Kong, +852 2200 5906, dchan@isda.org

ISDA Announces Decision on Cemex Restructuring

NEW YORK, Monday, December 14, 2009 – The International Swaps and Derivatives Association, Inc. (ISDA) today announced that an External Review Panel of the Americas Determinations Committee resolved that a Restructuring Credit Event occurred in respect of Cemex S.A.B. de C.V., a Mexico-based holding company of entities whose main activities are in the construction industry.

ISDA's Americas Determinations Committee will vote as to whether an auction will be held in respect of outstanding CDS transactions.

ISDA will publish updates on its website, www.isda.org/credit in due course.

About ISDA

ISDA, which represents participants in the privately negotiated derivatives industry, is among the world’s largest global financial trade associations as measured by number of member firms. ISDA was chartered in 1985, and today has over 830 member institutions from 58 countries on six continents. These members include most of the world’s major institutions that deal in privately negotiated derivatives, as well as many of the businesses, governmental entities and other end users that rely on over-the-counter derivatives to manage efficiently the financial market risks inherent in their core economic activities.  Information about ISDA and its activities is available on the Association's web site: www.isda.org.

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