TCL Shareholder Advisory

Trinidad Cement Limited (TCL) has advised that there have been developments in the financial fortunes of the company`s largest shareholder, CEMEX, as a consequence of the global financial crisis . TCL also advised that the year 2008 has been a difficult one for CEMEX, which has been severely impacted by:

1. A sharp contraction in sales volumes in the U.S.A., Spain and the U.K.

2. A significant increase in the cost of debt and difficulty in refinancing.

3. High energy and transportation costs.

4. US$700 million losses on derivatives in the 3rd Quarter 2008.

5. Downgrades from rating agencies.

6. Nationalization of the Group`s Venezuelan Assets.

7. A negative tax ruling in Mexico.

8. A significant decline in its stock price. American Depository Receipts (ADRs) listed on the NYSE declined from a 52 week high of US$32 .61 to low of US$4.01.

CEMEX`s response to these difficulties has been to initiate cost cutting measures, to seek debt re-financing, and to dispose of selected assets . The Strategic Alliance Agreement between TCL and CEMEX which was implemented in 1994 expired in July 2004 and was not renewed . Its shareholding of

49,953,027 TCL shares, (20% of TCL`s issued share capital), represents a minority interest.

While the board of directors of TCL, has not been officially informed of CEMEX`s plans, information has been received from credible sources that the 20% shareholding in the company currently held by CEMEX will be divested as a part of its debt restructuring exercise.

The sale of CEMEX`s TCL shares will not in any way affect the TCL`s Group`s operations or its future prospects . TCL`s board is nevertheless, mindful of its responsibility to all of its stakeholders and will seek to ensure an orderly disposal of CEMEX`s interest in a manner which does not result in a loss in

shareholder value. In this regard, steps have been taken to engage CEMEX and or their representative agents in discussions on the matter.