Board of Directors will be conducted by Deputy Chairman

17 June 2002

Thomas Schmidheiny, Chairman of the Board of Directors of Holcim Ltd, has informed the Board of Directors and the Executive Committee of legal investigations in connection with the private purchase by him of shares in a formerly listed Spanish company. In order to avoid any repercussions from this personal matter on the activities of Holcim Ltd, the business of the company's Board of Directors will be conducted by the Deputy Chairman, Willy Kissling, until the matter has been clarified.

The Board of Directors and Executive Committee have taken note of the decision. They hope that these proceedings can be swiftly concluded so that Thomas Schmidheiny will resume the conduct of the business of the Board of Directors.

With majority and minority interests in over 70 countries on all continents, Holcim is one of the world's leading suppliers of cement, as well as aggregates (gravel and sand), concrete and construction-related services. The Group has a workforce of over 50,000 employees worldwide.

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