January 29, 1999



Bruce A. Deerson
Martin Marietta Materials
2710 Wycliff Road
Raleigh, NC  27607


RE:    Amended Schedule 13G


Enclosed pursuant to Rule 13d-2(b) under the Securities Exchange
Act of 1934 is a report on Schedule 13G reporting beneficial
ownership at December 31, 1997 by American Express Company and
American Express Financial Corporation in Common stock of Martin
Marietta Materials.


Sincerely,



Steve Turbenson
Director - External Reports and Tax




Enclosure


               SECURITIES AND EXCHANGE COMMISSION

                      Washington, D. C. 20549

                           SCHEDULE 13G


           Under the Securities and Exchange Act of 1934



                     Martin Marietta Materials
- -------------------------------------------------------------------
                         (Name of Issuer)

                           Amendment #2

                           Common Stock
- -------------------------------------------------------------------
                  (Title of Class of Securities)



                            573284-10-6
- -------------------------------------------------------------------
                          (CUSIP Number)






The information required in the remainder of this cover page
(except any items to which the form provides a cross-reference)
shall not be deemed to be "filed" for the purpose of Section 18
of the Securities Exchange Act of 1934 ("Act") or otherwise
subject to the liabilities of that section of the Act but shall
be subject to all other provisions of the Act.



                       CUSIP NO. 573284-10-6


1)  Name of Reporting Person          American Express Company

    S.S. or I.R.S. Identification     IRS No. 13-4922250
    No. of Above Person

- -------------------------------------------------------------------

2)  Check the Appropriate Box             (a)            
    if a Member of a Group                (b) X - Joint Filing 

- -------------------------------------------------------------------

3)  SEC Use Only

- -------------------------------------------------------------------

4)  Citizenship or Place of Organization       New York

 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
    (5)              Sole Voting Power         -0-       
    (6)              Shared Voting Power       208,237   
    (7)              Sole Dispositive Power    -0-       
    (8)              Shared Dispositive Power  3,308,809               
______________________________________________________________________
9)  Aggregate Amount Beneficially
    Owned by Each Reporting Person            3,308,809

- -------------------------------------------------------------------

10) Check if the Aggregate Amount in
    Row (9) Excludes Certain Shares       Not Applicable

- -------------------------------------------------------------------

11) Percent of Class Represented by
    Amount In Row (9)                     7.1%

- -------------------------------------------------------------------

12) Type of Reporting Person              CO, HC

- -------------------------------------------------------------------


                      CUSIP NO. 573284-10-6


1)  Name of Reporting Person          American Express Financial Corporation

    S.S. or I.R.S. Identification     IRS No. 13-3180631
    No. of Above Person

- -------------------------------------------------------------------

2)  Check the Appropriate Box             (a)            
    if a Member of a Group                (b) X - Joint Filing 

- -------------------------------------------------------------------

3)  SEC Use Only

- -------------------------------------------------------------------

4)  Citizenship or Place of Organization            Delaware

 NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
    (5)                 Sole Voting Power                -0-       
    (6)                 Shared Voting Power              208,237   
    (7)                 Sole Dispositive Power           -0-       
    (8)                 Shared Dispositive Power         3,308,809 

- -------------------------------------------------------------------

9)  Aggregate Amount Beneficially
    Owned by Each Reporting Person                     3,308,809

- -------------------------------------------------------------------

10) Check if the Aggregate Amount in
    Row (9) Excludes Certain Shares       Not Applicable

- -------------------------------------------------------------------

11) Percent of Class Represented by
    Amount In Row (9)                     7.1%

- -------------------------------------------------------------------

12) Type of Reporting Person              CO, IA

- -------------------------------------------------------------------


1(a) Name of Issuer:                Martin Marietta Materials

1(b) Address of Issuer's Principal  2710 Wycliff Road
     Executive Offices:             Raleigh, NC  27607

2(a) Name of Person Filing:         American Express Company
                                    American Express Financial Corporation


2(b) Address of Principal Business Office:
                                   American Express Company
                                   American Express Tower
                                   200 Vesey Street
                                   New York, NY  10285

                                   American Express Financial Advisors Inc.
                                   IDS Tower 10
                                   Minneapolis, MN  55440

2(c) Citizenship:                  See Item 4 of Cover Page

2(d) Title of Class of Securities: Common Stock

2(e) Cusip Number:                 573284-10-6

3    Information if statement is filed pursuant to Rules 13d-1(b) or 13d-2(b):

         American Express Company, one of the persons filing this
         statement, is a Parent Holding Company in accordance with
         Rule 13d-1(b)(ii)(G).

         American Express Financial Corporation, one of the
         persons filing this statement, is an Investment Advisor
         registered under section 203 of the Investment Advisors
         Act of 1940.

4(a)     Amount Beneficially Owned as of December 31, 1998:
         See Item 9 of Cover Pages

4(b)     Percent of Class:    See Item 11 of Cover Pages

4(c)     Number of Shares as to which such person has:
        (i) Sole power to vote or to direct the vote: See Item 5 of Cover Pages
       (ii) Shared power to vote or direct the vote: See Item 6 of Cover Pages
       (iii)Sole power to dispose or to direct the disposition of:
            See Item 7 of Cover Pages
       (iv) Shared power to dispose or to direct the disposition of: 
            See Item 8 of Cover Pages

5      Ownership of 5% or Less of a Class:
       If this statement is being filed to report the fact
       as of the date hereof the reporting person has ceased
       to be the beneficial owner of more than five percent
       of the class of securities, check the following  (  ).

6      Ownership of more than 5% on Behalf of Another Person:

                              Not Applicable

7      Identification and Classification of the Subsidiary Which
       Acquired the Security Being Reported on by the Parent Holding Company:

                              See Exhibit I

8      Identification and Classification of Members of the Group:

                              Not Applicable

9      Notice of Dissolution of Group:

                              Not Applicable
10     Certification:

          By signing below I certify that, to the best of my
      knowledge and belief, the securities referred to above
      were acquired in the ordinary course of business and
      were not acquired for the purpose of and do not have
      the effect of changing or influencing the control of
      the issuer of such securities and were not acquired in
      connection with or as a participant in any transaction
      having such purposes or effect.

          After reasonable inquiry and to the best of my
      knowledge and belief, I certify that the information
      set forth in this statement is true, complete and
      correct.

 
American Express Financial Corporation


Dated: December 31, 1998            By      _______________________
                                      Signature

                                      Steve Turbenson
                                      Director - ExternalReports
                                      and Tax
                                      Name/Title

                                      Telephone: (612) 671-2059

                           Exhibit Index


Exhibit I     Identification and Classification of the Subsidiary
              which Acquired the Security Being Reported on by the
              Parent Holding Company.

Exhibit II    Statement of American Express Company

Exhibit III   Statement of American Express Financial Corporation


                            Exhibit I

                                to

                           Schedule 13G

    One of the persons filing this statement is a parent holding
company.  The relevant subsidiary, American Express Financial
Corporation, a Delaware Corporation, is registered as investment
advisor under section 203 of the Investment Advisors Act of 1940.

                            EXHIBIT II

                                to

                          SCHEDULE 13G

                            under the

                 Securities Exchange Act of 1934

American Express Company, American Express Tower, World
Financial Center, New York, New York disclaims beneficial
ownership of the securities referred to in the Schedule 13G to
which this exhibit is attached, and the filing of this Schedule
13G shall not be construed as an admission that American
Express Company is, for the purpose of Section 13(d) or 13(g)
of the Securities Exchange Act of 1934, the beneficial owner of
any securities covered by this Schedule 13G.

Pursuant to Rule 13d-1(f) (1) and subject to the preceding
disclaimer, American Express Company affirms it is individually
eligible to use Schedule 13G and agrees that this Schedule is
filed on its behalf, and authorizes the President, any Vice
President, the comptroller, the Secretary, the General Counsel,
any Associate General Counsel or any Counsel, each with power
to act singly, of each subsidiary of American Express Company
making this filing to sign this statement on behalf of American
Express Company.


                              AMERICAN EXPRESS COMPANY



                              By:____________________________
                              Name:       Stephen P. Norman
                              Title:      Secretary


                           Exhibit III

                                to

                           Schedule 13G

                             Under the

                  Securities Exchange Act of 1934


    Pursuant to Rule 13d-1(f)(1), American Express Financial
Corporation affirms that it is individually eligible to use
Schedule 13G and agrees that this Schedule is filed in its behalf.


                                  American Express Financial Corporation


                                  By:                         
                                     Steve Turbenson
                                     Director - External Reports
                                     and Tax