Issue of Debt

CRH PLC
14 March 2002


March 14, 2002


CRH ANNOUNCES SUCCESSFUL $1 BILLION GLOBAL BOND OFFERING

CRH America, Inc., a wholly owned subsidiary of CRH plc, successfully completed
its debut US$ Global bond offering yesterday afternoon in New York. The $1
billion 10-year notes priced at a spread of 170 bps over the 10-year US
Treasury. The notes have a coupon of 6.95%. Due to strong investor demand, the
offering was upsized from $750 million. CRH was also able to price at a spread
tighter than the original price guidance. The transaction is the largest
corporate bond ever issued by an Irish company, and it is also one of the
largest bonds ever issued in the building materials industry worldwide. Over 110
institutional investors from North America and Europe participated in the
transaction. The proceeds of the offering will be used to refinance bank debt
and for general corporate purposes. The notes are registered with the SEC.

Harry Sheridan, Finance Director at CRH said: 'We are very pleased with the
investor response to our debut US$ global bond. The transaction fits our
strategy of extending our debt maturity profile, while expanding our investor
base.'

JPMorgan and Salomon Smith Barney acted as joint bookrunners on this
transaction.

This press release shall not constitute an offer to sell or the solicitation of
an offer to buy securities either in the United States or any other
jurisdiction, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such
jurisdiction. Any public offering of the securities in the United States is
being made solely by means of a prospectus supplement to the prospectus included
in the Registration Statement filed by CRH plc and CRH America, Inc and
previously declared effective.



Contact : [phone]


Liam O'Mahony, Chief Executive

Harry Sheridan, Finance Director

Myles Lee, General Manager - Finance



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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