Acquisition

CRH PLC
16 May 2003

                       N  E  W  S    R  E  L  E  A  S  E

                                                                   16th May 2003



            CRH ACQUIRES MAJOR MATERIALS BUSINESS IN THE US MIDWEST





CRH plc, the international building materials group, announces that its
Materials Division in the Americas, Oldcastle Materials Group, has acquired the
stock of S.E. Johnson for a cash consideration, including debt assumed, of
US$217 million (euro 189 million). Including anticipated asset sales of US$40
million (euro 35 million), the net cost of the transaction amounts to US$177
million (euro 154 million).



Founded in 1929 and headquartered in Toledo, Ohio, S.E. Johnson is a leading
aggregates and asphalt producer with paving, heavy highway and bridge
construction activities operating in the northern Ohio, south-eastern Michigan
and north-eastern Indiana markets. The business employs 1,300 people in peak
season. The company has 600 million tons of permitted (and predominantly owned)
reserves and in the year ended 31st December 2002, it produced 12.7 million tons
of aggregates and 2.6 million tons of asphalt.



After depreciation of US$10 million, S.E. Johnson reported 2002 trading profit
(EBIT) of US$18 million (excluding non-recurring items) on sales of US$272
million.



Following acquisition, the Materials Division plans to reduce S.E. Johnson's
large exposure to non-paving related highway and bridge construction and to
dispose of certain non-core assets. S.E. Johnson will be integrated into the
Shelly Group (Ohio) and Thompson-McCully (Michigan), which were acquired by CRH
in February 2000 and July 1999 respectively. The acquisition represents a unique
geographic fit with existing activities, and should facilitate significant cost
savings while strengthening the Materials Division's market and reserves
positions in the key Midwest region.



Commenting on the transaction, Tom Hill, Chief Executive Officer of Oldcastle
Materials, said:



'This deal is consistent with the Materials Division's strategy to enhance
vertical integration of its activities in the Midwest. S.E. Johnson provides a
strong aggregates business with excellent reserves and significantly improves
the Group's strategic positioning in Michigan, in particular. The combination of
S.E. Johnson with our existing operations in Ohio and Michigan offers
considerable scope for the speedy realisation of value-adding synergies.'







Contact CRH at Dublin 404 1000 ([phone])



Liam O'Mahony, Chief Executive

Harry Sheridan, Finance Director

Myles Lee, Finance Director Designate





CRH plc, Belgard Castle, Clondalkin, Dublin 22, Ireland TELEPHONE [phone]
                               FAX [phone]

   E-MAIL [e-mail] WEBSITE www.crh.com Registered Office, 42 Fitzwilliam
                           Square, Dublin 2, Ireland


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