Response to BPB's statement

Compagnie de Saint-Gobain
05 October 2005

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from Australia, Canada or Japan






                                                              5 October 2005



                   Compagnie de Saint-Gobain ('Saint-Gobain')



                         Cash Offer for BPB plc ('BPB')



            Response to BPB's statement on additional capital return



Saint-Gobain notes today's announcement from BPB that it is increasing its
proposed return of capital from £350 million to £600 million and that it intends
to grow dividends by 88% over the next three years. Saint-Gobain questions
whether this is in the best interests of shareholders.

BPB has been keen to stress its desire to create shareholder value through
long-term growth. However, its initial response to Saint-Gobain's proposed offer
was to incur heavy borrowing to fund a very large share buyback and to offer
significantly increased dividends on the remaining outstanding shares.  Today,
it has decided to mortgage further the future of the company thereby
jeopardising not only future growth prospects, but possibly its fundamental
stability.

Saint-Gobain continues to believe that this offer would be better discussed in a
private forum. Unfortunately, BPB does not want to do so. In light of this,
Saint-Gobain believes there are a number of questions shareholders should be
asking BPB:

•         If BPB implements this proposed buyback, what will the gearing level
          be over the next 5 years?

•         Is BPB's dividend level sustainable? What will the future level of
          dividend cover be?

•         Are BPB shareholders being asked to choose between growth or cash?

•         Is the sale of some of BPB's businesses the first sign that its growth
          plan will be difficult to finance given this new cash back strategy?

•         Isn't the whole cash back strategy increasing risk substantially for
          shareholders?

Jean-Louis Beffa, Chairman and CEO of Saint-Gobain said:

'Saint-Gobain believes that substantially increasing dividends and borrowing
heavily to fund buy backs does not affect the fundamental value of the BPB
business. Our cash offer of 720p per share offers certainty and value for BPB
shareholders today.'



Enquiries



Saint-Gobain (for analysts and investors)



Florence Triou-Teixeira, Head of IR                Tel: [phone]

Alexandre Etuy, Deputy Head of IR                  Tel: [phone]



BNP Paribas (joint financial adviser to Saint-Gobain)



Thierry Dormeuil                                   Tel: [phone]

Oliver Ellingham                                   Tel: [phone]



UBS Investment Bank (joint financial adviser and broker to Saint-Gobain)



Charles-Henri Le Bret                               Tel: [phone]

Liam Beere                                          Tel: [phone]



Brunswick (PR adviser to Saint-Gobain)



John Sunnucks                                       Tel: [phone]

Sophie Fitton                                       Tel: [phone]



Notes

Copies of the Offer Document and the Form of Acceptance are available for
collection (during normal business hours) from Capita Registrars at PO Box 166,
The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TH.

Further information on Saint-Gobain is available on Saint-Gobain's website
www.saint-gobain.com.

Terms used in this announcement shall have the meaning given to them in the
Offer Document.

The Offer in the United States is made solely by the Offeror and neither BNP
Paribas, UBS nor any of their respective affiliates is making the Offer into the
United States.

The Saint-Gobain Directors and the Offeror Directors accept responsibility for
the information contained in this announcement. To the best of the knowledge and
belief of the Saint-Gobain Directors and the Offeror Directors (who have taken
all reasonable care to ensure that such is the case), the information contained
in this announcement for which they are responsible is in accordance with the
facts and does not omit anything likely to affect the import of such
information.

BNP Paribas and UBS are acting exclusively for Saint-Gobain and the Offeror in
connection with the Offer and no one else, and will not be responsible to anyone
other than Saint-Gobain and the Offeror for providing the protections afforded
to respective clients of BNP Paribas and UBS nor for providing advice in
relation to the Offer or any other matter referred to herein.

This announcement does not constitute an offer to sell or an invitation to
purchase any securities or the solicitation of an offer to buy any securities.


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