Acquisitions Update by CRH

CRH PLC
15 January 2001


CRH ANNOUNCES FURTHER DEVELOPMENT INITIATIVES OF EURO 354 M
BRINGING TOTAL 2000 DEVELOPMENT SPEND TO OVER EURO 1.5 BN

CRH plc, the international building materials group, announces a range of
development initiatives totalling euro 354 million undertaken during the
second half of 2000. These initiatives are in addition to the acquisition of
the Jura Group (euro 268 million net) announced in November.   


Commenting on these developments, Liam O'Mahony, CRH Chief Executive, said:

'2000 has been a record year for development activity in CRH with a total
spend of over euro 1.5 billion. The 27 acquisitions announced today clearly
demonstrate the continued success of CRH in completing small and medium-sized
deals across the major regions and product groups with a view to enhancing
value, providing a sound basis for future growth and maintaining market
leadership.'

The principal initiatives announced today include: 

Materials - Europe : euro 18.7 million - the ongoing development of CRH's
downstream materials activities in Poland and further steps in extending the
Finnish operations into asphalt production and paving contracting.

Products & Distribution - Europe : euro 69.2 million - a significant regional
expansion of CRH's Dutch DIY activities together with attractive bolt-on
additions for distribution activities in the Paris region, for Belgian precast
operations and for CRH's growing Polish clay brick activities.

Materials - North America : euro 69.8 million - further acquisitions by the
Materials Group in the western United States and completion of the fourth
bolt-on deal in the Ohio/West Virginia region since the acquisition of The
Shelly Company in February 2000. 

Products & Distribution - North America : euro 196.2 million - significant
additions for CRH's Precast, Architectural Products and Glass Groups in the
United States further consolidating their strong national positions. 

CRH's results for the year ended 31 December, 2000 will be announced on
Tuesday, 6 March, 2001.

Contact at Dublin  404 1000  ([phone])
Liam O'Mahony       Chief Executive
Harry Sheridan      Finance Director
Myles Lee           General Manager - Finance

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CRH ANNOUNCES FURTHER DEVELOPMENT INITIATIVES OF EURO 354 M
BRINGING TOTAL 2000 DEVELOPMENT SPEND TO OVER EURO 1.5 BN

CRH plc, the international building materials group, announces a range of
development initiatives totalling euro 354 million undertaken during the
second half of 2000. These initiatives are in addition to the acquisition of
the Jura Group (euro 268 million net) announced in November.   

Materials - Europe : euro 18.7 million

Poland
In August, the Group acquired 75% of Polbet, a concrete paving manufacturer
based in Bydgoszcz to the south of Gdansk with annual sales of euro 8 million.
In addition to enhancing the vertical integration of CRH's operations, this
acquisition consolidates the Group's position as the leading producer of
paving products in Poland and extends the market coverage of existing
operations in Gdansk, Warsaw, Lublin and Skierniewice to encompass northern
and central Poland.

Also in August, CRH invested in Drogomex, a blacktop production and paving
contracting business based in Gdansk with annual sales of euro 2 million.

Finland
As part of the extension of Rudus Finland's operations into asphalt production
and contracting, CRH acquired Helsingin Katutyo, Asfaltti Makio and
Asfalttipiste in July and Asfaltti Tenhunen in November.  In conjunction with
Espoon Asfaltti and Asfalttinelio acquired in May and June 2000 respectively,
these acquisitions provide a sound basis for the continued development of
Rudus' presence in the asphalt contracting business in Finland, increasing
annual blacktop sales to circa euro 12 million. In addition, CRH purchased the
remaining 30% shareholding in Karjalan Murske in July, a contract aggregates
crushing operation headquartered in eastern Finland.

The total cost of the seven development initiatives undertaken by the
Materials - Europe Division is euro 18.7 million inclusive of goodwill
amounting to euro 7.0 million.


Products & Distribution - Europe : euro 69.2 million

Distribution Group
In October, the Distribution Group acquired Dijkbouw Beheer, an eight-store
DIY chain located in the greater Rotterdam area with annual sales of euro 39
million. The Distribution Group's DIY division now comprises a network of 51
stores throughout the Netherlands operating within the Intergamma franchise.

Also in October, the Distribution Group purchased the remaining 12.5% of
Paris-based builders merchant Materiaux Service following the increased
investment to 87.5% announced in July 2000. In the same month, the Group
acquired Codimat, a single branch builders merchant operating close to Paris.
With annual sales of euro 11 million, this acquisition represents an excellent
add-on for our distribution group in Ile-de-France.

Concrete Products Group
In December, the Concrete Products Group acquired Schelfhout, the leading
producer in Belgium of precast concrete wall panels for the non-residential
market. Located close to the border with the Netherlands and Germany and with
annual sales of euro 31 million, Schelfhout expands CRH's presence in the
precast industry in Belgium and provides an excellent base for further
development.

Clay Products Group
In November, the Clay Products Group acquired Gozdnica, a leading Polish
manufacturer of clay facing bricks located near the border with eastern
Germany. Gozdnica owns circa 22 million tonnes of high quality clay reserves.
In December, the Group acquired 51% of Cerg, a producer of facing bricks based
in Gliwice in Upper Silesia. Added to our existing clay brick business, these 
acquisitions, which have combined annual sales of euro 12 million, consolidate
CRH's strong presence in the growing facing brick market in Poland.

Ibstock Brick has commenced a project to automate with robotics the de-hacking
and blending processes at its Ashdown facility in Sussex, England. This euro
2.6 million investment will lead to higher productivity and reduced operating
costs. 

The total cost of the six Products & Distribution - Europe transactions is
euro 66.6 million, on which goodwill of euro 34.7 million arises.

Materials - North America : euro 69.8 million

West
Expansion of the Materials Division's western region continued successfully
into the second half of 2000, during which three bolt-on acquisitions with
combined annual sales of euro 67 million were completed. 
 
In July, the Division acquired Acme Materials and Construction Company, based
in Spokane, Washington. Acme is an integrated producer and supplier of
aggregates, asphalt, readymixed concrete and road construction services with
approximately 70 million tons of permitted aggregate reserves in the Spokane
area. The acquisition of Acme provides additional long-term strategic reserves
in eastern Washington and northern Idaho and will lead to synergies in
production and delivery in combination with CPM, the Group's existing
operation in the region.

Larry's, a heavy highway and utility contractor located in Gillette, Wyoming,
and Reeves, an integrated aggregates, readymixed concrete, highway and
concrete paving construction company based in Buffalo, Wyoming, were acquired
in separate transactions in September. The two companies have since been
integrated into the existing Cundy Asphalt Paving business headquartered in 
Gillette.  

Mid-West
In July, The Shelly Company acquired Van Wey Sand & Gravel, an aggregates
producer and a processor and distributor of limestone located near Columbus,
Ohio with annual sales of circa euro 13 million. Van Wey, which is the fourth
bolt-on deal to be completed by Shelly since acquisition in February 2000, has
long-term access to approximately 35 million tons of permitted aggregate
reserves. The acquisition serves to consolidate Shelly's presence in a key
market area and to increase self-sufficiency in aggregate supply. 

The total cost of the four acquisitions undertaken by Materials - North
America amounts to euro 69.8 million on which goodwill of euro 3.2 million
arises.

Products & Distribution - North America : euro 196.2 million

Precast Group
In September, the Precast Group acquired W.R. White Company, a producer of
concrete pipe and a distributor of waterworks products with two manufacturing
and two distribution locations in Utah and one distribution facility in
southern Nevada.  With annual sales of euro 52 million, W.R. White complements
Amcor's operations in Utah and expands market coverage into southern Nevada.
In addition, the waterworks distribution activities broaden the range of
products marketed to existing precast pipe and drainage customers.

Selected assets of New Basis in Livermore, northern California and in Los
Angeles and San Diego, southern California were acquired in two transactions
in September and November. With combined annual sales of euro 21 million, New
Basis utility vault operations in California extend the Group's coverage in a
strategically important market and provide a good opportunity to implement
cost reductions and enhance operational efficiency. 

In October, the Group acquired ConVault Florida, a producer of ConVault tanks
based in Wildwood, Florida with annual sales of euro 3 million. Together with
New Basis, the consideration for which included the ConVault license for
California, this acquisition represents an excellent addition to Oldcastle's
extensive ConVault programme. 

In December, the Group acquired New Jersey Concrete Pipe, a pipe manufacturer
based in Farmington, New Jersey with annual sales of circa euro 9 million.
This acquisition will expand Oldcastle's product range and market share in the
Northeast region and will lead to cost savings in the areas of production and
distribution. 

Architectural Products Group (APG)
CCI Manufacturing, headquartered in Dallas, Texas, was acquired by APG in
July. CCI, with annual sales of euro 68 million, enjoys market leadership in
the distribution of natural stone and in the provision of specialty site-mix
concrete for residential hardscape projects and street repair. It serves the
Dallas/Fort Worth, Houston and Austin metropolitan markets from a network of
six stone yards and eight concrete locations including three combined hub
facilities. The acquisition of CCI enables APG to expand its product offering
in its core masonry and hardscape sectors whilst also providing growth
opportunities through the supply of masonry and hardscape products from CCI's
sites.

Also in July, APG acquired Gollin Supply and Block Company, a concrete masonry
producer serving the Michigan market.   With annual sales of euro 7 million,
Gollin is an attractive bolt-on and capacity-enhancing deal for APG's existing
4D operation (acquired in June 1999) permitting the Group to provide improved
service to the large construction and homecenter sectors in the state. 

Glass Group
In September, the Glass Group acquired Hoffer's, a fabricator and distributor
of residential and commercial glass products throughout the upper Mid-West.
The company is headquartered in Wausau, Wisconsin with three manufacturing and
five distribution facilities in five states. In addition to the realisation of
purchasing benefits, the acquisition provides an excellent opportunity to
increase the market share of the Group in Wisconsin, Minnesota, Michigan and
Indiana. 

Laminated Glass Corporation, a producer of specialist laminated glass products
based in Telford, Pennsylvania, was acquired in December. The acquisition
provides the Glass Group with a solid manufacturing presence in the important
Mid-Atlantic and New England markets and addresses capacity constraints at the
Group's nearest laminating facility in Perrysburg, Ohio.

Combined annual sales for these acquisitions amount to circa euro 90 million.

The Glass Group has initiated a euro 5.2 million project to expand its
tempering and insulated glass manufacturing facilities at United Tempering
Systems (UTS) based in Vancouver, Washington. The additional manufacturing
space afforded by the expansion will enable UTS to take advantage of strong
market growth in the Pacific Northwest and to increase the penetration of its 
insulated glass products in the region.

Distribution Group
In September, the Distribution Group acquired Southeast Wholesale Supply, a
distributor of roofing materials with three branches in eastern Florida. With
annual sales of approximately euro 15 million, Southeast Wholesale extends the
geographic coverage and product range of the Group's existing activities in
Florida. The acquisition expands the Distribution Group's branch network to
over 100 specialist outlets selling roofing, siding and related products
throughout the United States.

The total cost of the ten acquisitions completed by Products & Distribution -
North America amounts to euro 191.0 million including goodwill of euro 98.7
million.


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