Board Stmt on Ansbacher

CRH PLC
1 October 1999

CRH BOARD STATEMENT ON ANSBACHER 

At its meeting yesterday, the CRH Board considered, in detail, the allegations
in the affidavit filed in the High Court in Ireland relating to the
application for the appointment of Inspectors to Ansbacher (Cayman) Limited. 
The Board recognises the gravity of these allegations. It fully understands
and greatly regrets the resulting disquiet and upset caused to employees,
shareholders, customers, suppliers and members of the general public.

The CRH Group attaches enormous importance to its governance and overall
business conduct.  If it is established therefore that a bank or any illegal
activity was operated from its non-executive Chairman's office, CRH would
deplore this as a most serious breach of trust by its former Chairman. 

It is CRH Group policy to operate to the highest standards of corporate
governance and it believes it consistently achieves this objective.  However,
given the allegations, the CRH Board has requested its Audit Committee to
commission an independent review of all compliance and disclosure requirements
relating to its Chairman and Directors.  This will also take account of the
recently published Turnbull Committee Report that sets out recommendations on
the internal control aspects of corporate governance.

The Board hopes that the investigation into the affairs of Ansbacher (Cayman)
Limited can now proceed in an atmosphere which respects the rights of
individuals and companies to due process.  The Board restates CRH's intention
to co-operate fully with the Inspectors appointed by the High Court and has no
further comment at this time.

A. D. Barry
Chairman


CRH plc, Belgard Castle, Clondalkin, Dublin 22, Ireland Tel:  + 353 1 404 1000
 Registered Office, 42 Fitzwilliam Square, Dublin 2, Ireland