1999 Results - Earnings Per Share Growth of 15.4%

Compagnie de Saint-Gobain
27 January 2000


                                  SAINT-GOBAIN
                            1999 RESULTS (ESTIMATED)
                        Earnings per share growth: +15.4%

The Group's 1999 consolidated financial statements reflect the consolidation of
Essilor and Flat Glass processing subsidiaries from January 1, 1999.

The key consolidated figures for 1999 are also presented in Appendix 1 excluding
Essilor and Flat Glass processing subsidiaries.

Consolidated net income of the Saint-Cobain Group is estimated at EUR 1,223
million (FF 8,022 million), an increase of 11.5% over 1998. This includes the
capital gain arising from the partial unwinding of cross-shareholdings with the
Vivendi Group. Excluding capital gains on disposals, net income amounts to   EUR
880 million (FF 5,772 million), an increase of 11.4% over 1998,

Based on the total number of issued shares at December 31, 1999 (87,236,750
shares) and following the cancellation of 5% of share capital on June 24, 1999,
earnings per share amount to EUR 14.02 (FF 91.97) an increase of 15.4% over 1998
(EUR 12.15 or FF 79.70)

The key consolidated figures based on current estimates presented to the board
of directors at its meeting of January 27, 2000, are as follows :

                                      1999 estimated           1998

(In millions)                        M EUR       FF       M EUR        FF

Sales                                22,961    150,614    17,821    116,901
Operating income                      2,311     15,159     1,776     11,647
Dividend income                          25        164        58        378
Interest and other financial
 charges, net                          -330     -2,165      -300     -1,959
Non-operating costs                    -190     -1,246      -141       -926
Income before tax and before profit   1,816     11,912     1,393      9,140
on sales of non-current assets
Profit on sales of non-current assets   458      3,004       394      2,585
Income taxes                           -780     -5,117      -589     -3,868
Amortization of goodwill               -140       -918      -102       -668
Share in net results of associated 
 companies                               28        184        86        567
Net income before minority interests  1,382      9,065     1,182      7,756
Minority interests                     -159     -1,043       -85       -560
Net income                            1,223      8,022     1,097      7,196
Earnings per share 
 (in euros and francs)                14.02      91.97     12.15      79.69
Net income excluding capital gains      880      5,772       790      5,184
Resources from operations (cash flow) 2,325     15,251     1,912     12,540
Capital expenditure on plant and
 equipment                            1,618     10,613     1,288      8,450
Acquisition of investments            2,582     16,937     2,075     13,608
Net indebtedness                      6,365     41,752     3,886     25,489

  
These satisfactory performances, which are slightly higher than the objectives
fixed by the Group for 1999, stem from the strategy of development and improved
profitability implemented by the Group in its three operating sectors:  Glass,
High Performance Materials and Housing Products (see appendix 2).

The Glass sector felt the benefits of both sustained demand in all its business
lines and price increases in the Flat Glass and Insulation Divisions.
Profitability shows a good improvement due to the above as well as
cost-reduction programmes implemented in recent years.

The High Performance Materials and Plastics sector recorded a strong increase in
sales and operating income on an actual structure basis, due to the
consolidation of Essilor and, to a lesser extent, the Furon acquisition.  On a
comparable  structure basis, the sector is slightly behind 1998 as a result of
the slowdown in the Industrial Ceramics division.

The Housing Product sector recorded significant growth in sales and  operating
income, despite a large drop in the Pipe Division, due to the Group's
development policy and the buoyant building market in Prance and the United
States.

Sales increased by 28.8% on an actual structure basis. Before the consolidation
of Essilor and the Flat Glass processing subsidiaries, sales increased by 11.5%
and, on a comparable structure basis, by 1.5% in euro and 2.4% in local
currencies. Current selling prices are slightly higher driven by the recovery in
the Flat Glass, Insulation and Building Materials Divisions throughout 1999.
Sales volumes increased slightly on average over 1998: Europe suffered from the
negative contribution of the Pipe and Industrial Ceramics Divisions in the first
six months of the year, but recovered in the second half. The United States, on
the other hand, led the Group's growth in the first half but volume dropped at
the end of the year.

The breakdown of sales is as follows: 
France 33.5%; other European countries; 33.8%; Americas and Asia: 32.7%.

Operating income increased 30.1% and represented 10.1% of sales against 10% in
1998.  Excluding the consolidation of Essilor and the  Flat Glass processing
subsidiaries, operating income rose 12% and represented 10% of sales.

Profitability improved in France and in Americas/Asia but declined  slightly  in
other European countries.

Income before tax and before profit on sales of non-current assets rose 30%
because of the improvement in operating income.  Dividend income dropped 57% 
due to the disposal of cross-shareholdings, while net interest charges and 
non-operating costs both increased.

Profit on sales of non-current asset amounted to strategy EUR 458 million (FF 
3,004 million), mainly from the sale of 4.7 million Vivendi shares on April
30, 1999.

Net income amounts to EUR 1,223 million (FF 8,022 million), up 11.5% over 1998.

Excluding net profit on sales of non-current-assets, net income totalled     EUR
880 million (FF 5,772 million) against EUR 790 million (FF 5,184 million)  in
1998, an increase of 11.4%.  Based on the total number of issued shares at
December 31, 1999 (87,236,750 shares), earnings per share  amounted to       EUR
10.09 (FF 66.19), an increase of 15.3% over 1998 (EUR 8.75 or FF 57.40).

Cash flow from operations was EUR 2,325 million (FF 15,251  million), up 22%. 
This represents 10.1% of sales, against 10.7% in 1998. Before the tax charge on
profit from sales of non-current assets of EUR 123 million (FF 807 million),
cash flow from operations amounts to EUR 2 448 million (FF 16,058 million).

Capital expenditure totalled EUR 1 618 million (FF 10,613 million), against  EUR
1,288 million (FF 8,450 million) in 1998, an increase of  26%.  It represents 7%
of sales against 7.2% in 1998.  Excluding the consolidation of  Essilor and Flat
Glass processing subsidiaries, capital expenditure was      EUR 1,382 million,
an increase of 7% over 1998.

Investments in securities amounted to EUR 2,582 million (FF 16,937 million),
including EUR 475 million for the Furon acquisition, 526  million  (FF 3,450
million) for the acquisition of the balance of Poliet shares and EUR 14 million
(FF 4,684 million) for the buy-back  of  4,544,000 Compagnie de Saint-Gobain
shares.

Net indebtedness amounts to EUR 6.4 billion (FF 42 billion) at December 31, 1999
representing a gearing ratio of around 57%.

The analysis by geographical area shows continuing good performances mainly in
North and South America, and in France.

Outlook:  The Saint-Gobain Group has set an objective for the year 2000 of an
increase in net income, excluding capital gains, of at least 10%.


January 27, 2000.

                       Investor Relations Department

           Tel.: Florence TRIOU-TEIXEIRA  +03) 147 62 45 19
           Tel.: Lounis BEKKAT            +03) 147 62 32 36

                          Fax: +(33) 147 62 50 62


APPENDIX 1

KEY CONSOLIDATED FIGURES FOR THE YEAR 1999 (ESTIMATED)
BEFORE THE CONSOLIDATION OF ESSILOR AND THE FLAT GLASS PROCESSING SUBSIDIARIES

                              1999 (estimated)       1998            Evolution
                             M.of E.  M.of F.F.   M.of E.  M.of F.F      %

Net Sales                     19,878    130,391    17,821    116,90    11.5%
Operating Income               1,991     13,060     1,776    11,647    12.1%
Dividend Income                   37        243        58       378   -36.2%
Interest and other financial 
 charges, net                   -279     -1,830      -300    -1,959    -7.0%
Non-operating costs             -182     -1,194      -141      -926    29.1%
Income before tax and before 
 capital gains                 1,567     10,279     1,393     9,140    12.5%
Capital gains                    458      3,004       394     2,585    16.2%
Income taxes                    -695     -4,559      -590    -3,868    17.8%
Amortization of goodwill        -114       -748      -102      -668    11.8%
Group's share in net results
 of associated companies          95        623        86       567    10.5%
Net income before minority
 interests                     1,311      8,600     1,182     7,756    10.9%
Minority interests in 
 consolidated companies          -73       -479       -85      -560   -14.1%.
Net income                     1,238      8,121     1,097     7,196    12.9%
Earnings per share 
 (in E. and FF)                14,19      93.08     12.15     79.69    16.8%
Net income excluding capital
 gains                           895      5,871       790     5,184    13.3%
Earnings per share excluding 
 capital gains (in E. and FF)  10.26      67,30      8.75     57.40    17.3%
Cash flow from operations      2.045     13,414     1,912    12,540     8.4%
Capital expenditure on plant
  and equipment                1,382      9,065     1,288     8,450     7.3%
Investments in securities      2,446     16,045     2,073    13,608    -2.8%
Net indebtedness               5,843     38,328     3,886    25,489    50.4%    
                                                          

APPENDIX 2:
RESULTS BY BUSINESS SECTOR, DIVISION AND MAIN GEOGRAPHIC AREA
(in millions of euros)

I. SALE                                               Evolution    Evolution    
                                 1998      1999       on a real    on a comp.
                                        (estimated)   structure    struct. &
                                                      basis &      currency
                                                      in euros     basis 

BUSINESS SECTORS AND DIVISIONS
GLASS(1)                         8,171     10,220       +25.1%        +3.9%
Fiat Glass                       2,270      3,721       +56.1%        +5.3%
Insulation & Reinforcements      2,488      2,864       +15,1%        +5.5%
Containers                       3,416      3,640       +6.6%         +1.6%
HIGH PERFORMANCE MATERIALS(1)    2,762      4,729       +71.2%        -2.1%
Ceramics & High Performance 
 Plastics & Abrasives            2,762      3,066       +11.0%        -2.1%
Essilor                              0      1,665         n.a.         n.a.
HOUSING PRODUCTS(1)              7,001      8,158       +16.5%        +2.6%
Building Materials               2,233      2,625       +17.6%        +7.5%
Building Distribution            3,325      4,077       +22.6%        +8.3%
Pipe                             1,573      1,606        +2.1%       -18.1%
INTERNAL SALES                    -112       -146         n.a.         n.a.

GROUP                           17,822     22,961       +28.8%        +2.4%

MAIN GEOGRAPHIC AREAS
France                           6,953      7,967       +14.6%        -1.1%
Other European countries         5,493      8,016       +45.9%        +4.1%
America/Asia                     6,024      7,755       +28.7%        +3.8%
INTERNAL SALES                    -648       -778       +20.1%         n.a.

GROUP                           17,822     22,961       +28.8%        +2.4%

(1) including inter-division sales


II. OPERATING INCOME                        1998       1999   Evolution on a
                                                 (estimated)  real structure    
       
BUSINESS SECTORS AND DIVISIONS
GLASS                                        809      1,052           +29.9%
Flat Glass                                   204        328           +60.8%
Insulation & Reinforcements                  273        358           +31.1%
Containers                                   332        366           +10.2%
HIGH PERFORMANCE MATERIALS                   325        593           +82.5%
Ceramics & High Performance Plastics &
 Abrasives                                   325        365           +12.3%
Essilor                                        0        228             n.a.
HOUSING PRODUCTS                             640        683            +3.6%
Building Materials                           250        282           +12.8%
Building Distribution                        193        252           +30.6%
Pipe                                         197        129           -34.5%
OTHER                                          2          3             n.a.

GROUP                                      1,776      2,311           +30.1%

MAIN GEOGRAPHIC AREAS
France                                       614        768           +25.1%
Other European countries                     513        658           +28.3%
America/Asia                                 650        885           +36.2%

GROUP                                      1,776      2,311           +30.l%



APPENDIX 2:
RESULTS BY BUSINESS SECTOR AND BY MAIN GEOGRAPHIC AREA
(in millions of euros)
         
III. CASH FLOW                              1998       1999   Evolution on a
                                                 (estimated)  real structure    
       

BUSINESS SECTORS AND DIVISIONS
GLASS                                      1,029      1,274           +23.8%
Flat Glass                                   279        409           +46.6%
Insulation & Reinforcements                  323        390           +20.7%
Containers                                   427        475           +11.2%
HIGH PERFORMANCE MATERIALS                   288        524           +81.9%
Ceramics & High Performance Plastics &
 Abrasives                                   288        314            +9.0%
Essilor                                        0        210             n.a.
HOUSING PRODUCTS                             668        684            +2.4%
Building Materials                           267        303           +13.5%
Building Distribution                        202        238           +17.8%
Pipe                                         199        143           -28.1%
OTHER                                        -73       -157             n.a.

GROUP                                      1,912      2,325           +21.6%

MAIN GEOGRAPHIC AREAS
France                                       563        580            +3.0%
Other European countries                     649        815           +25.6%
America/Asia                                 700        930           +32.9%

GROUP                                      1,912      2,325           +21.6%


IV. CAPITAL EXPENDITURE
    ON PLANT AND EQUIPMENT
                                            1998       1999   Evolution on a
                                                 (estimated)  real structure  
                                              
BUSINESS SECTORS AND DIVISIONS
GLASS                                        839        975           +16.2%
Flat Glass                                   203        365           +79.8%
Insulation & Reinforcements                  264        351           +33.0%
Containers                                   369        259           -29.8%
HIGH PERFORMANCE MATERIALS                   131        262          +l00.0%
Ceramics & High Performance Plastics & 
 Abrasives                                   131        132            +0.8%
Essilor                                        0        130             n.a.
HOUSING PRODUCTS                             319        380           +19.1%
Building Materials                           135        150           +11.1%
Building Distribution                        107        147           +37.4%
Pipe                                          76         83            +9.2%
OTHER                                         -1          1             n.a.

GROUP                                      1,288      1,618           +25.6%

MAIN GEOGRAPHIC AREAS
France                                       319        473           +48.3%
Other European countries                     457        634           +38.7%
America/Asia                                 519        511            -1.5%

GROUP                                      1,288      1,618           +25.6%



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