ISDA®
INTERNATIONAL SWAPS AND DERIVATIVES ASSOCIATION, INC.

NEWS RELEASE

For Immediate Release, Tuesday, December 15, 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 to Publish Auction Terms for Cemex

NEW YORK, Tuesday, December 15, 2009 – The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its Americas Credit Derivatives Determinations Committee voted to hold an auction 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.

On December 14, ISDA announced that an External Review Panel of the Americas Determinations Committee resolved that a Restructuring Credit Event occurred in respect of Cemex.

ISDA will facilitate the process by publishing the auction terms on its website www.isda.org/credit, in due course. The auction will be administered by Markit and Creditex. The auction date has not yet been determined.

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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