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CRH announces successful US$1 billion global bond offering

23 September 2003

CRH America, Inc., a wholly owned subsidiary of CRH plc, successfully completed its second US$ Global bond offering yesterday afternoon in New York . The offering consists of 10-year and 30-year notes. The US$700 million 10-year notes were priced at a spread of 1.1% above the 10-year US Treasury and have a coupon of 5.3%. A US$300 million 30-year tranche was priced at 1.3% above the 30-year US Treasury and has a coupon of 6.4%. Due to strong investor demand, the offering was upsized from US$600 million. Over 100 institutional investors from North America and Europe participated in the transaction. The proceeds of the offering are intended to be used to partially finance the acquisition of certain operations of Cementbouw (which, subject to the satisfaction of closing conditions, is expected to close in the fourth quarter of 2003) and also for general corporate purposes which may include acquisitions. The notes are registered with the Securities and Exchange Commission (SEC).

Harry Sheridan, Finance Director at CRH said: “CRH’s debut US$ global bond was completed in March 2002, raising US$ 1 billion. We are delighted with the very strong investor response to this second offering of US$ 1 billion which enables CRH to extend its debt maturity profile to 30 years and expand its investor base.”

Banc of America Securities LLC, Citigroup and JPMorgan acted as joint book-runners 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 CRH at Dublin: +353 1 404 1000

Liam O’Mahony Chief Executive
Harry Sheridan Finance Director
Myles Lee Finance Director Designate

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