Lapeyre Interim Results

Compagnie de Saint-Gobain
19 September 2001

                                Groupe Lapeyre

       Interim 2001 Results Confirmed:
                 -Sales up 16.2%
                 -Consolidated net income before exceptional Items up 4.1%


Meeting on September 18, 2001, the Supervisory Board reviewed the definitive 
consolidated financial results for the six months ended June 30, 2001.


INTERIM SALES UP 16.2%


Consolidated sales increased by 16.2% in the first half of 2001. At comparable 
scope of consolidation, sales to consumers and craftsmen (B2C) rose by 9.4%, 
while sales to wholesalers and building materials suppliers (B2B) declined by 
12.9%.

Sales by Business in EUR millions         June 30, 2001  June 30,2000  % change

Sales to consumers and craftsmen (B2C)       567.4          453.6       25.1%

* France                                     481.9          437.2       10.2%

* International                               85.5           16.4         NM

Sales to wholesalers and building 
materials suppliers (B2B)                    150.1          163.9      - 8.4%

* France                                      99.5          102.6      - 2.9%

* Europe                                      50.6           61.3     - 17.5%

Total Groupe Lapeyre                         717.5          617.5       16.2%

B2C sales continued to trend upward in France, increasing more than 10% over 
first-half 2000, when sales were especially robust due to strong demand 
following the December 1999 storms and the reduction in the VAT rate to 5.5%.

In international markets, the two new retail subsidiaries-Telhanorte in Brazil 
and Lapeyre Polska in Poland - reported sales in line with forecasts.

However, sales to wholesalers and building materials suppliers in Europe 
declined again, dropping 17.5% due to persistently unfavorable conditions in 
Germany and Poland.



INTERIM FINANCIAL RESULTS                 



        in EUR millions                   June 30, 2001  June 30,2000  % change

Sales                                        717.5          617.5        16.2%

Operating income                              65.9           61.8         6.6%

Net income before exceptional items           32.7           31.4         4.1%

Exceptional items                            (66.9)          (0.3)         NM
                                                      
Consolidated net income                      (34.0)          31.3          NM


In France, all businesses reported growth in operating income in line with sales
growth. In Germany and Poland, however, declining sales weighed heavily on 
earnings, resulting in an operating loss of EUR 7.4 million for the period.

Nonetheless, total operating income increased by 6.6% and net income, excluding 
exceptional items, rose by 4.1% to EUR 32.7 million.

As part of the process announced last July 25 to refocus on the Group's B2C 
business, the fair value of the fixed assets in the B2B businesses was appraised
in preparation for their sale, resulting in an exceptional write-off of EUR 66.9
million.

Consequently, the Group reported a consolidated net loss of EUR 34 million. Cash
flow amounted to EUR 60.8 million, working capital represented 49 days of sales,
and net debt totaled EUR 51.6 million.

OUTLOOK

In a particularly uncertain business environment, sales to consumers should be 
supported by the opening of new sales outlets in France, Brazil and Poland, as 
well as by the current program in France to introduce bathroom products in all 
Lapeyre stores that did not yet offer them.


September 19, 2001

Lapeyre - Investor Relations 
Patrick Mallet Tel:[phone] 
               Fax:[phone] 
email: [e-mail]