AGM Statement

CRH PLC
9 May 2001


                      CHAIRMAN'S AGM UPDATING STATEMENT

                    ANNUAL GENERAL MEETING - 9th MAY 2001

In Ireland, following good volume growth in the first quarter, activity levels
in recent weeks have been somewhat subdued reflecting the impact on rural
construction of measures to prevent the spread of foot and mouth disease.
Infrastructural demand continues to be generally strong. While the land and
planning constraints evident during 2000 continue to affect residential
construction activity in Dublin, underlying demand in this sector remains
good.

In Britain, exceptionally wet weather has had an adverse impact on activity
levels in the housing sector, a key market for Ibstock Brick. As a result
brick volumes year to date are down. Price increases however have held. In
Northern Ireland, our Farrans operation continues to benefit from PFI (Private
Finance Initiative) driven demand.

In Mainland Europe, weather has also been poor and trading patterns have been
mixed. Year to date demand in our Materials activities in Poland has been
slower than last year although we have been benefiting from better prices.
Finland has also started slower, but activity levels in Spain continue strong.
In the Products and Distribution division, our distribution activities had a
good start to the year. Clay products demand in Germany continues weak and
conditions in the Dutch clay and concrete markets remain competitive. Both the
Materials and Distribution operations of our newly acquired Jura business in
Switzerland are performing in line with expectations.

In North America, our Materials operations have experienced good bid activity
with order backlogs ahead of 2000 both in volumes and margins. Although
natural gas, gasoline and diesel prices remain high, our winter-fill bitumen
stock building programme - which covers approximately 30% of our annual
bitumen requirements - has been completed at prices substantially below last
year's levels. The first-time inclusion of seasonal winter losses for Shelly
(acquired in February 2000) and Dolomite (acquired in May 2000) will of course
impact the US Materials group outturn in the first half of the year. While
order backlogs in for our Products and Distribution activities are also
strong, mixed weather conditions and economic uncertainty have resulted in
some recent delays in order drawdowns.

The 1 for 4 Rights Issue announced in March was extremely well supported by
our international shareholder base with an acceptance level of 94.7%.
Approximately euro 1.1 billion (net of expenses), was raised, which will back
the extensive resources committed by CRH to development and will ensure that
the Group is not constrained in its plans to take full advantage of attractive
acquisition opportunities as they arise in our various geographic, product and
sectoral markets. To date in 2001 we have completed acquisitions totalling
over euro 330 million, including the acquisition of Mount Hope Rock Products
in the United States which was announced last week.

While economic uncertainties continue with regard to the direction of world
markets and as yet the seasonal pick up in activity has not been as rapid as
anticipated due to the factors already outlined, we nevertheless expect
overall improvements in 2001 from our existing businesses and from the full
year impact of businesses acquired during 2000. With these improvements,
together with the results of acquisitions completed to date this year and with
the benefits of the recent Rights Issue, we look forward to a year of further
progress in 2001.

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CRH plc, Belgard Castle, Clondalkin, Dublin 22. Telephone [phone] Fax
+353.1.4041007 email: [e-mail]. Website: www.crh.com

Registered Office: 42 Fitzwilliam Square, Dublin 2.