AGM Statement

CRH PLC
05 May 2004

                        N  E  W  S   R  E  L  E  A  S  E


                       CHAIRMAN'S AGM UPDATING STATEMENT

                     ANNUAL GENERAL MEETING - 5th MAY 2004


The year has started well with more normal seasonal weather patterns in Northern
Europe and North America than in 2003 and a continuing good level of acquisition
activity across our operations.

In Ireland, the very strong housing demand evident in 2003 has continued while
commercial and industrial activity remains flat. Cement and concrete product
volumes overall are ahead of the same period last year. As expected the pace of
infrastructural investment has been slower than in 2003; however, a pick up is
anticipated as new projects come on stream.

In Britain, Ibstock Brick volumes to date are similar to 2003 levels while
further price improvements are being achieved. Activity in Northern Ireland has
improved.

In Mainland Europe our Materials operations got off to a better start than in
weather-affected 2003. Volumes increased from last year's depressed levels in
our cement operations in Finland, Poland and Switzerland with the latter
continuing to benefit from major tunneling projects. The Polish market has had a
particularly strong start to the year although activity ahead of the May 1st VAT
increase on building materials may be responsible for an element of the early
buoyancy. Readymixed concrete volumes in Spain have declined but prices are
showing improvements on 2003 levels.

Our Products and Distribution Division in Mainland Europe continues to
experience generally subdued demand but is benefiting from strong contributions
from its record 2003 development spend. The integration of Cementbouw, acquired
last October, is largely complete and it is performing to plan. The Concrete
Accessories group, formed following the acquisition of Plakabeton in April 2003,
and Unidek, the leading producer of expanded polystyrene insulation products and
roofing systems acquired last October, are both meeting expectations.

In North America, early season activity for the Materials Division is in line
with expectations and we enter the main construction period for this Division
with strong backlogs. Negotiations on the renewal of TEA-21, the US Federal
highway spending programme, continue. Meanwhile, the US Congress has approved a
7% increase for 2004 Federal highway spending and, despite continuing state
budget deficits, overall highway demand for the year is expected to be broadly
similar to 2003.

In the Americas Products & Distribution Division, the improvement in Precast
group performance evident in the second-half of 2003 has continued into 2004
while underlying trading in the Glass group has stabilised. The Architectural
Products group has seen good demand for retail and hardscape products and
improvement in Glen-Gery brick demand, while the Distribution group continues to
build on the progress of recent years.

Our acquisition programme and overall strategy continue to deliver and to date
in 2004 we have completed acquisitions totaling €250 million, comprising 15
deals across our operations. Subject to the satisfactory outcome of final due
diligence and obtaining approval from the European Commission, we expect that
the purchase of a 49% stake in Secil, one of Portugal's leading producers of
cement and downstream products, will be completed by mid-year. Completion of the
Secil deal would bring 2004 acquisition spending to over €600 million and with
our strong cash flow and interest cover we retain substantial capacity to
capitalise on further attractive development opportunities as they arise.

While risks and uncertainties remain and economic growth in Europe is still
subdued, the US economy continues to improve. The recent recovery of the US
Dollar on currency markets suggests that the adverse translation impact on 2004
profits may be less significant than might have been anticipated earlier in the
year. Overall, we have enjoyed a positive start to the year, our 2003
acquisitions are meeting expectations and we face the seasonally more profitable
second half of the year with confidence.

                                     ------

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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