Lapeyre Groupe Results

Compagnie de Saint-Gobain
27 March 2002


2001 CONSOLIDATED FINANCIAL RESULTS

The Groupe Lapeyre Supervisory Board met today and approved the consolidated 
financial statements and results for the year ended December 31, 2001.

                               Consolidated Sales Up 12.1%

Consolidated sales rose by 12.1% to €1,458 million in 2001. The increase was 
14.6% at constant exchange rates and 6% at comparable scope of consolidation, 
excluding Telhanorte, Menuiseries Francaises and Lapeyre Polksa, as well as 
Lapeyre Deutschland's companies in Germany, which were sold during the second 
half.

Sales by business in € millions              2001               2000             % change
Sales to consumers and contractors (B2C)    1,166.4             975.7              19.5%
•France                                       991.4             909.0               9.1%
•International                                175.0              66.7             162.2%

Sales to wholesalers and building materials
suppliers (B2B)                               291.7             325.5             -10.4%
•France                                       193.6             193.1               0.2%
•Europe                                        98.1             132.4             -25.9%

Total Groupe Lapeyre                        1,458.1           1,301.2              12.1%

                                2001 Consolidated Earnings

in € millions                                2001               2000             % change
Sales                                       1,458.1           1,301.2              12.1%
Operating income                              140.6             123.2              14.1%
Net income before exceptional capital losses   72.4              59.7              21.5%
Non-operating loss                            (97.4)             (8.0)             NM
Consolidated net income                       (25.0)             51.7              NM

As part of the strategic commitment to refocusing its operations announced last 
July, the Group completed its withdrawal from Germany by selling all its local 
operating subsidiaries.

Non-operating expenses related to this refocusing totaled €94.4 million In 
addition, a provision of €3 million was set aside for the closing of the Group's 
Spanish subsidiary, which has been operating at a loss for a number of years 
with no turnaround in sight. This increased total non-operating losses for the 
year to €97.4 million.

As a result, the Group reported a consolidated net loss of €25 million. 
Excluding capital losses, net income would have risen by a strong 21.5%.

Net debt amounted to €29.8 million at year-end and working capital requirement 
represented 44 days of sales.

The Board of Directors closed the accounts for the Group's parent company, 
Lapeyre, showing a net loss of €10.6 million for 2001, after recognition of the 
€45 million writedown of shares in Lapeyre Deutschland and a €38.7 million 
provision for contingencies covering the company's negative net worth.

At the Annual Meeting on June, 2002, the Board will ask shareholders to approve 
a dividend net of tax credit unchanged at €1.08 per share. Tax credit for 
individual investors will amount to €0.54 euros per share. The dividend will be 
paid as from June 10, 2002.

Lapeyre - Investors Relations
Patrick Mallet
Tel: [phone]
Fax: [phone]
e.mail: [e-mail]





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