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2016-10-20

ICA Announces the Unexpected Passing of its CEO

ounces the Unexpected Passing of its CEO

MEXICO CITY, 2016-10-20 04:38 CEST (GLOBE NEWSWIRE) --
Empresas ICA, S.AB. de C.V. (BMV:ICA), announced today the unexpected passing
of Luis Fernando Zarate Rocha. Mr. Zarate collaborated with ICA for over 40
years in virtually every capacity culminating with his appointment as CEO in
2016.

For the moment, the company will continue its operations as it has been doing
otherwise. The Board will hold a meeting shortly to make the necessary
decisions.

The ICA family and its Chairman of the Board, Mr. Bernardo Quintana, will
always be grateful for Luis and his family’s contributions and sacrifices made
to in striving to build a better Mexico. Bernardo Quintana said, “I have lost a
friend and Mexico has lost a great engineer and teacher. Luis taught
generations of our best engineers; was a mentor to many and a friend to all.”

This press release contains projections or other forward-looking statements
related to ICA that reflect ICA’s current expectations or beliefs concerning
future events. Forward-looking statements involve inherent risks and
uncertainties. We caution you that a number of important factors could cause
actual results to differ materially from the plans, objectives, expectations,
estimates and intentions expressed in such forward-looking statements. These
factors include cancellations of significant construction projects included in
backlog, material changes in the performance or terms of our concessions,
additional costs incurred in projects under construction, failure to comply
with covenants contained in our debt agreements, developments in legal
proceedings, unanticipated increases in financing and other costs or the
inability to obtain additional debt or equity financing on attractive terms,
changes to our liquidity, economic and political conditions and government
policies in Mexico or elsewhere, changes in capital markets in general that may
affect policies or attitudes towards lending to Mexico or Mexican companies,
changes in inflation rates, exchange rates, regulatory developments, customer
demand, competition and tax and other laws affecting ICA’s businesses and other
factors set forth in ICA’s most recent filing on Form 20-F and in any filing or
submission ICA has made with the SEC subsequent to its most recent filing on
Form 20-F. All forward-looking statements are based on information available to
ICA on the date hereof, and ICA assumes no obligation to update such
statements.

Empresas ICA, S.A.B. de C.V., carries out large-scale civil and industrial
construction projects and operates a portfolio of long-term assets, including
airports, toll roads, water systems, and real estate. Founded in 1947, ICA is
listed on the Mexican and New York Stock exchanges. For more information,
visit ir.ica.mx.

For more information, please contact:

Christianne Ibanez
christianne.ibanez@ica.mx

relacion.inversionistas@ica.mx
+(5255) 5272 9991 x 3607

Pablo García
pablo.garcia@ica.mx
Chief Financial Officer

Författare SSE

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