Holcim confirms merger of its Australian interests into the newly formed Cement Australia Pty Ltd

2 June 2003

Following Holcim Ltd's preliminary announcement on November 26, 2002, its Group company Queensland Cement Ltd (QCL) has been merged on June 1st 2003 with Australian Cement Holdings Ltd (ACH) to form a new company, Cement Australia Pty Ltd.

Cement Australia includes the three cement plants of the contributing companies, plus the lime business of QCL.

With an annual cement capacity in excess of 3 million tonnes and a market share of about 40 percent, the new company is the leader in the Australian cement market. Cement Australia serves all eastern states of Australia, representing 80 percent of the country's population.

Cement Australia is owned 50 percent by Holcim, 25 percent by Hanson (UK based ready-mix and aggregate company) and 25 percent by Rinker (Australian and US heavy construction materials group).

With majority and minority interests in more than 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.

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