Sale of Rooflights Businesses for £38.6m

Yule Catto & Co PLC 27 March 2000 Yule Catto & Co plc ('Yule Catto') Sale of Rooflights businesses Yule Catto exchanged conditional contracts today with CRH plc, the Irish building products group, to sell its rooflight businesses in the UK, Eire, Germany and the Netherlands for a total consideration of Euro63 million payable in cash on completion (approximately £38.6m). The rooflights businesses comprise Jet Kunststofftechnik GmbH and its associated companies in Germany, Bik Bouwprodukten BV in the Netherlands, a 50% equity interest in the joint venture holding company which owns Williaam Cox Ireland Limited in Eire and the business which trades as Cox Building Products in the UK. The combined sales of the rooflights businesses were Euro63 million for the year ended 31 December 1999 and profit before tax for the same period was Euro6.8 million. The net assets of the rooflights businesses at 31 December 1999 totalled Euro1 million and aggregate borrowings being assumed by CRH were Euro14 million at that date. The rooflights businesses will form part of CRH's international approach to the market for rooflights and architectural glazing, adding to their existing operations in Germany and the Netherlands. Completion of the transaction is, amongst other things, subject to clearance being obtained from the Department of Enterprise, Trade and Employment in Eire. The sale follows the purchase in November 1999 by Yule Catto of the outstanding 50% shareholdings in Synthomer Ltd and Synthomer GmbH, producers of synthetic latex polymers and compounded latices, from its joint venture partner Reichhold Inc, and the earlier £251 million acquisition of Holliday Chemical Holdings PLC in 1998. It marks a continuation by Yule Catto of a policy to concentrate on development of its speciality chemicals activities. In the short term the proceeds of sale will be used to reduce indebtedness. Commenting on the transaction Alex Walker, Group Chief Executive of Yule Catto said 'Under Yule Catto ownership each of our rooflights businesses has developed a strong market position with excellent opportunities for growth. Within a successful building products group such as CRH we are sure that they will continue to flourish and we wish all the management and employees every success in the future.' Brian Hill of CRH said 'This is an excellent deal for both parties. The combination of CRH's and Yule Catto's daylight and ventilation activities creates a pan-European business with tremendous opportunities in the combined entity.' For further information contact: S V Cummins - Finance Director Tel: 01279 442791