GCC divesting RGM

Grupo Cementos de Chihuahua, S.A. de C.V. (GCC) announced today that it has entered into an agreement, through its indirect subsidiary Rio Grande Materials, Inc. (RGM), with Jobe Concrete Products, Inc. to sell substantially all of the assets of RGM related with its ready mix concrete business in the cities of El Paso, Texas, and Las Cruces, Alamogordo and Ruidoso in the state of New Mexico, effective as of October 31, 2002.

RGM value added sales represented 3% of GCC total sales as of September 30, 2002 and 0.5% of its EBITDA. The divested RGM ready mix assets are not strategic to GCC’s regional business plan.

RGM is a subsidiary of GCC of America, Inc., which is an indirect subsidiary of Grupo Cementos de Chihuahua, S.A. de C.V.

Grupo Cementos de Chihuahua, S.A. de C.V. is an international cement group holding company, with operations through subsidiaries in the United States and Mexico. It is publicly traded on the Mexican Stock exchange under the symbol "GCC". Its operations in the United States include cement plants in the states of New Mexico and South Dakota, as well as distribution terminals in the Mountain region. In Mexico, GCC has cement, ready-mix concrete, aggregate, concrete block and gypsum operations, mainly in the state of Chihuahua.