Interim Results

Compagnie de Saint-Gobain
27 July 2000

                                SAINT-GOBAIN
        FIRST HALF 2000 NET INCOME EXCLUDING CAPITAL GAINS (ESTIMATED): 
              UP 15.6% TO EURO 542 MILLION (FF 3,555 MILLION)


Excluding profit on sales of non-current assets, net income of the Saint-Gobain
Group for the first half of 2000 is estimated at EURO 542 million (FF 3,555
million), up 15.6% compared with the same period of 1999.

Consolidated net income is estimated at EURO 873 million (FF 5,727 million).
This is very slightly below the first-half 1999 figure, due to lower capital
gains.

The estimated interim consolidated financial statements were reviewed by the
Board of Directors at its meeting of July 27, 2000. Key figures for the period
are as follows:

                                    1st half 2000              1st half 1999
                                     (estimated)   

                                 in             in FF       in         in FF
                             millions EUR     millions   millions EUR  millions

Net sales                    13,780          90,391      10,957       71,873
Operating income              1,402           9,197       1,115        7,314
Dividend income                  22             144          31          204
Interest and other 
 financial charges net         (275)         (1,804)       (132)        (866)
Non-operating costs             (60)           (394)        (85)        (558)
Income before profit on 
 sale of non-current assets
 and taxes                    1,089           7,143         929        6,094
Profit on sale of non-
 current assets                 417           2,735         537        3,522
Provision for income taxes     (484)         (3,175)       (452)      (2,965)
Amortization of goodwill        (94)           (616)        (65)        (426)
Group's share in net results
 of equity investees             32             210          16          105
Net income before minority
 interests                      960           6,297         965        6,330
Minority interests in 
 consolidated companies         (87)           (570)        (83)        (544)
Net income                      873           5,727         882        5,786
Earnings per share 
 (in and in FF)               10.41           68.29       10.14        66.53
Net income excluding profit
 on sale of non-current
 assets                         542           3,555         469        3,076
Cash flow from operations     1,317           8,639       1,126        7,386
Capital expenditure             760           4,985         673        4,415
Investments in securities     2,167          14,215       1,845       12,102
net indebtedness              8,365          54,871       5,873       38,524


These satisfactory performances, in line with the Group's objectives for 2000,
stem from the strategy of development and improving profitability implemented by
the Group in its three operating sectors, Glass, High-Performance Materials and
Plastics and Housing (see Appendix 1).

The Glass Sector benefited from sustained demand in all of its business lines,
especially in Europe. Ongoing cost-reduction programmes, particularly in
downstream Flat Glass operations and at Ball Foster, generated further
improvements in profitability.

The High-Performance Materials and Plastics Sector recorded substantial growth
in both sales and operating income, mainly thanks to healthy demand in the
United States, particularly for semiconductors.

In the Housing Sector, sales rose significantly on both actual and comparable
structure bases, due to the Group's successful development policy and the
buoyant construction market, particularly in France. However, operating margin
eased back slightly as a percentage of net sales, due to higher raw materials
prices in the Building Materials division in the United States and competitive
pressures on sales prices in the Pipe division. The Building Distribution
division, for its part, raised its profitability on both actual and comparable
structure bases.

Group sales increased by 25.8%, including organic growth of 12.2% in euros and
7.6% in local currencies. Volumes rose sharply across all business sectors, with
the exception of Containers. Sales prices were slightly higher, reflecting
improved prices in the Reinforcements and Building Materials divisions.

Sales in France accounted for 31.5% of the total, with other European countries
contributing 34.6%, North America 26.6% and other countries 7.3%.

Operating income increased 25.7%. Operating margin held firm compared with the
first half of 1999, at 10.2% of sales. Excluding Building Distribution,
operating income represented 11.1% of sales versus 11% in the same period last
year.

Income before profit on sales of non-current assets and taxes rose 17.2%. Growth
was driven mainly by higher operating income but it also reflected a decline in
non-operating costs to EUR 60 million from EUR 85 million in the first half of
1999. Net interest expense climbed to EUR 275 million from EUR 132 million for
the first half of 1999, mainly as a result of the significant acquisitions made
in the first six months of 2000. Dividend income declined due to the reduction
in the Group's interest in Vivendi.

Profit on sales of non-current assets amounted to EUR 417 million (FF 2,735
million), for the most part from the sale on February 11, 2000 of 4 million
Vivendi shares.

Net income amounted to EUR 873 million (FF 5,727 million), slightly below the
first half 1999 figure of EUR 882 million (FRF 5,786 million). Based on the
83,877,309 shares issued and outstanding at June 30, 2000 - following the
cancellation of shares representing 3.85% of capital on June 29, 2000 - earnings
per share amounted to EUR 10.41 (FF 68.29) versus EUR 10.14 (FF 66.53) for the
first half of 1999 (based on 86,955,234 shares).

Excluding net profit on sales of non-current assets, net income totalled EUR 542
million (FF 3,555 million), an increase of 15.6% compared with EUR 469 million
(FF 3,076 million) in the first half of 1999. Based on the 83,877,309 shares
issued and outstanding at June 30, 2000, earnings per share excluding net profit
on sales of non-current assets amounted to EUR 6.46 (FF 42.37), up 19.85% on the
first-half 1999 figure of EUR 5.39 (FF 35.36), based on 86,955,234 shares.

Cash flow from operations was EUR 1,317 million (FF 8,639 million), up 17%. This
represented 9.6% of net sales, versus 10.3% in the first half of 1999. Before
the EUR 88 million (FF 577 million) tax charge on profit from sales of
non-current assets, cash flow from operations stood at EUR 1,405 million (FF
9,216 million) compared with EUR 1,251 million (FF 8,206 million) for the same
period of the previous year.

Capital expenditure totalled EUR 760 million (FF 4,985 million) compared with
EUR 673 million (FF 4,415 million) for the first half of 1999, representing 5.5%
of net sales versus 6.1% in 1999.

Investments in securities amounted to EUR 2,167 million (FF 14,215 million),
including EUR 204 million (FF 1,338 million) for the buy-back of 1,330,200
Compagnie de Saint Gobain shares.

Net indebtedness stood at EUR 8.4 billion (FF 54.9 billion) at June 30, 2000.

The analysis by geographical areas shows continuing good performances in North
and South America, coupled with sharply improved results in France and most
other European countries (excluding Building Distribution), particularly the
United Kingdom.

Outlook: In view of the good level of activity across all business lines, the
Saint-Gobain Group confirms its target of 15% growth in earnings per share over
the full year, to which will be added the accretive impact of the 5% reduction
in its share capital.

Essilor has been accounted for by the equity method as from June 30, 2000,
following a reduction in the Group's share of voting rights to below 40%. To
permit meaningful comparisons between first and second-half 2000 figures, pro
forma first-half consolidated figures have been prepared using the equity method
for Essilor. These pro forma statements are presented in Appendix 2.


                         Investor Relations Department

Tel.: Florence TRIOU-TEIXEIRA [phone] - mailto:
[e-mail]

Tel.: Lounis BEKKAT  [phone] - mailto: [e-mail]

                            Fax: [phone]



   APPENDIX 1: RESULTS BY OPERATIONAL SECTOR, DIVISION AND GEOGRAPHIC AREA
             (in millions of euros)


I. SALES

                                                                   Change on a
                                                       Change on   comparable
                                                       an actual   structure
                                   H1 1999   H1 2000   structure   and currency
                                            estimated  basis       basis

GLASS(1)                           4,959     5,523     11.4%        5.2%
Flat Glass                         1,808     2,058     13.8%        9.7%
Insulation & Reinforcements        1,347     1,548     14.9%        6.2%
Containers                         1,808     1,921      6.3%       -0.1%
HIGH-PERFORMANCE MATERIALS &
 PLASTICS(1)                       2,205     2,993     35.7%        7.9%
Ceramics & High Performance
 Plastics and Abrasives            1,383     2,018     45.9%        8.1%
Essilor                              822       976     18.7%        7.5%
HOUSING PRODUCTS(1)                3,865     5,343     38.2%       10.5%
Building Materials                 1,229     1,527     24.2%        9.1%
Building Distribution              1,970     3,028     53.7%       12.0%
Pipe                                 744       882     18.5%        9.8%
INTERNAL SALES                       -72       -79      9.7%        n.a.
GROUP                             10,957    13,780     25.8%        7.6%

MAIN GEOGRAPHIC AREAS
France                             3,767     4,314     14.5%       10.6%
Other European Countries           3,553     4,706     32.5%        6.1%
North America                      2,494     3,356     34.6%        3.9%
Rest of the world                    686       956     39.4%       17.8%
ESSILOR                              822       976     18.7%        7.5%
INTERNAL SALES                      -365      -528     44.7%        n.a.
GROUP                             10,957    13,780     25.8%        7.6%

(1) Including inter-divisions eliminations




                                                      Change on an
II. OPERATING INCOME               H1 1999   H1 2000  actual structure
                                                          basis

GLASS                                510       589     15.5%
Flat Glass                           152       193     27.0%
Insulation & Reinforcements          160       199     24.4%
Containers                           198       197     -0.5%
HIGH-PERFORMANCE MATERIALS 
 & PLASTICS                          278       399     43.5%
Ceramics & High Performance 
 Plastics and Abrasives              170       289     58.2%
Essilor                              108       130     20.4%
HOUSING PRODUCTS                     330       408     23.6%
Building Materials                   149       152      2.0%
Building Distribution                117       192     64.1%
Pipe                                  64        64      0.0%
INTERNAL SALES                        -3         6      n.a.
GROUP                              1,115     1,402     25.7%

MAIN GEOGRAPHIC AREAS
France                               340       424     24.7%
Other European Countries             290       361     24.5%
North America                        301       390     29.6%
Rest of the world                     78        97     27.6%
ESSILOR                              108       130     20.4%
GROUP                              1,115     1,402     25.7%






                                                       Change on an
III. CASH FLOW                     H1 1999   H1 2000   actual structure
                                            estimated   basis

GLASS                                617       688     11.5%
Flat Glass                           193       229     18.7%
Insulation & Reinforcements          180       216     20.0%
Containers                           244       243     -0.4%
HIGH-PERFORMANCE MATERIALS
 & PLASTICS                          270       336     24.4%
Ceramics & High Performance
 Plastics and Abrasives              159       222     39.6%
Essilor                              111       114      2.7%
HOUSING PRODUCTS                     368       348     -4.9%
Building Materials                   168       149    -11.3%
Building Distribution                115       132     14.8%
Pipe                                  83        67    -19.3%
INTERNAL SALES                      -128       -55      n.a.
GROUP                              1,125     1,317     17.1%

MAIN GEOGRAPHIC AREAS
France                               210       313     49.0%
Other European Countries             388       416     72.0%
North America                        280       339     21.1%
Rest of the world                    136       135     -0.7%
ESSILOR                              111       114      2.7%
GROUP                              1,125     1,317     17.1%



IV. CAPITAL EXPENDITURE ON PLANT & EQUIPMENT


                                                       Change on an
                                   H1 1999   H1 2000   actual structure
                                            estimated   basis


GLASS                                410       433      5.6%
Flat Glass                           166       189     13.9%
Insulation & Reinforcements          127       139      9.4%
Containers                           117       105    -10.3%
HIGH-PERFORMANCE MATERIALS & 
 PLASTICS                            102       159     55.9%
Ceramics & High Performance
 Plastics and Abrasives               48        87     81.3%
Essilor                               54        72     33.3%
HOUSING PRODUCTS                     160       166      3.8%
Building Materials                    70        66     -5.7%
Building Distribution                 62        74     19.4%
Pipe                                  28        26     -7.1%
INTERNAL SALES                         1         2      n.a.
GROUP                                673       760     12.9%

MAIN GEOGRAPHIC AREAS
France                               132       166     25.8%
Other European Countries             279       220    -21.1%
North America                        152       157      3.3%
Rest of the world                     56       145    158.9%
ESSILOR                               54        72     33.3%
GROUP                                673       760     12.9%



APPENDIX 2: PRO FORMA KEY CONSOLIDATED FIGURES FOR THE FIRST HALFS 1999 AND 2000
WITH ESSILOR ACCOUNTED FOR BY THE EQUITY METHOD

                           H1 2000 (estimated)       H1 1999         Change (%)
                        M. Euros    M. Francs   M. Euros  M. Francs

Sales                    12,805       83,995    10,135    66,481       26.3%
Operating Income          1,271        8,337     1,007     6,605       26.2%
Dividend income              22           44        31       203      -29.0%
Interest and other
 financial charges, net    -256       -1,679      -118      -774      116.9%
Non-operating costs         -59         -387       -83      -544      -28.9%
Income before tax & 
 before profit on sale 
 of non-current assets      978        6,415       837     5,490       16.8%
Profit on sale of 
 non-current assets         417        2,735       538     3,529      -22.5%
Income taxes               -450       -2,952      -427    -2,801        5.4%
Amortization of goodwill    -83         -544       -57      -374       45.6%
Group's share in net 
 results of associated
 companies                   51          334        34       223       50.0%
Net Income from 
 consolidated 
 subsidiaries               913        5,989       926     6,074       -1.4%
Minority interests          -39         -255       -45      -295      -13.3%
Net Income                  873        5,726       882     5,786       -1.0%
Earnings per share
 (in euro and FF)         10.41        68.29     10.14     66.51        2.7%
Net income excluding
 capital gains              542        3,555       469     3,076       15.6%
Cash flow from 
 operations               1,214        7,963     1,025     6,724       18.4%
Capital expenditure
 on plant and 
 equipment                  688        4,513       619       406       11.1%
Investments in 
 securities               2,072       13,591     1,808    11,860       14.6%
Net indebtedness          8,365       54,871     5,649    37,055       48.1%