Response to BPB Document

Compagnie de Saint-Gobain
14 September 2005

Not for release, publication or distribution, in whole or in part, in, into or
from Australia, Canada or Japan

                                                              14 September 2005


                           Compagnie de Saint-Gobain

                             Cash Offer for BPB plc

                           Response to BPB's document

Compagnie de Saint-Gobain ('Saint-Gobain') notes that BPB plc ('BPB') has today
issued its formal defence document and has the following comments to make:

•  Although the document contains considerable detail, Saint-Gobain was aware
   of the key elements

•  The document contains a profit forecast, which takes earnings per share
   from a consensus of 44p per share1 immediately before the offer period to 47p
   per share2 for the year to 31 March 2006, before taking into account the 
   impact of the proposed return of capital

•  BPB's view that it should trade on a P/E multiple as high as 14.3x is very
   surprising

•  The peer group used by BPB to arrive at this multiple includes US
   companies that have historically traded at substantially higher P/E multiples 
   to European companies. Saint-Gobain does not believe that the methodology 
   used by BPB is valid and believes a more appropriate current year P/E 
   multiple would be considerably lower

In summary, Saint-Gobain continues to believe that its offer of 720p per share
takes into account the quality and growth of BPB's business. The document
contains no information that suggests that BPB deserves a re-rating and indeed
validates Saint-Gobain's view that 720p per share fully and fairly values BPB.

Enquiries

Saint-Gobain (for analysts and investors)

Florence Triou-Teixeira, Head of IR                   Tel: [phone]
Alexandre Etuy, Deputy Head of IR                     Tel: [phone]

BNP Paribas (joint financial adviser to Saint-Gobain)

Thierry Dormeuil                                      Tel: [phone]
Oliver Ellingham                                      Tel: [phone]

UBS Investment Bank (joint financial adviser and broker to Saint-Gobain)

Charles-Henri Le Bret                                 Tel: [phone]
Liam Beere                                            Tel: [phone]

Brunswick (PR adviser to Saint-Gobain)

John Sunnucks                                         Tel: [phone]
Sophie Fitton                                         Tel: [phone]

Notes

1.  Consensus immediately prior to the offer period is comprised of forecasts
from ABN Amro, Citigroup, CSFB, Deutsche Bank, DrKW, Merrill Lynch, Morgan
Stanley and Teather & Greenwood

2.  Underlying pro forma earnings and EPS (diluted) of 50p less pro forma impact
assuming a capital return on 1 April 2005 of 3p

Copies of the Offer Document and the Form of Acceptance are available for
collection (during normal business hours) from Capita Registrars at PO Box 166,
The Registry, 34 Beckenham Road, Beckenham, Kent BR3 4TH.

Further information on Saint-Gobain is available on Saint-Gobain's website
www.saint-gobain.com.

Terms used in this announcement shall have the meaning given to them in the
Offer Document.

The Offer in the United States is made solely by the Offeror and neither BNP
Paribas, UBS nor any of their respective affiliates is making the Offer into the
United States.

The Saint-Gobain Directors and the Offeror Directors accept responsibility for
the information contained in this announcement. To the best of the knowledge and
belief of the Saint-Gobain Directors and the Offeror Directors (who have taken
all reasonable care to ensure that such is the case), the information contained
in this announcement for which they are responsible is in accordance with the
facts and does not omit anything likely to affect the import of such
information.

BNP Paribas and UBS are acting exclusively for Saint-Gobain and the Offeror in
connection with the Offer and no one else, and will not be responsible to anyone
other than Saint-Gobain and the Offeror for providing the protections afforded
to respective clients of BNP Paribas and UBS nor for providing advice in
relation to the Offer or any other matter referred to herein.

This announcement does not constitute an offer to sell or an invitation to
purchase any securities or the solicitation of an offer to buy any securities.


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            The company news service from the London Stock Exchange                    U