CRH PLC Shares Fall as Asbestos Related Claims Emerge
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Published January 17, 2003


Shares in leading Irish construction and building materials company CRH
Plc fell after the firm said some of its operating companies had been
named in asbestos litigation.  The Company said it did not think the
litigation would affect its financial position and added that it
"believes that these claims are without merit".

Companies operating in the United States are facing mounting lawsuits
due to links to cancers and other diseases with the substance, which
was used for fireproofing and insulation in the 1960s and 1970s.
"Anything about this is negative and it depends on the kind of further
detail that people are provided with," said John Sheehan, analyst with
NCB Stockbrokers in Dublin.  "Only it looks to be mainly on the
distributions side rather than they haven't been involved in the
manufacture of asbestos."

The CRH subsidiary, Allied Building Products, has operations in 27 US
states and is a distributor of roofing products.  The company has been
named along with other building companies in a total of 244 cases, 94%
of which originate from one law firm based in New Jersey involving a
total of 251 claimants.

It said the cases allege personal injury as a result of exposure to
products manufactured by others and allegedly sold by companies in the
distribution group prior to their ownership by CRH.  It said the
companies had so far settled 33 cases for an aggregate amount of
$80,300.  It added that a very small number of cases against CRH
subsidiaries outside of the distribution group also are pending.

The companies and insurance carriers involved were working to defend
the cases and settle "only on a minimal, pragmatic basis", CRH said.
It also noted that the companies had never suffered an adverse ruling
on the issue in the courts.  "CRH does not believe that the outcome of
any pending actions will have a material adverse impact on the
financial position, results or operations of the group," the company
said.


COMPANY PROFILE

CRH plc (NASDAQ: CRHCY)
Belgard Castle, Clondalkin
Dublin 22, Ireland
Phone: +353-1-404-1000
Fax: +353-1-404-1007
http://www.crh.ie

Employees               :          47,600
Revenue                 : $ 9,097,300,000
Net Income              : $   518,800,000
Assets                  : $ 9,606,600,000
Liabilities             : $ 5,386,000,000
(As of December 31, 2001)

Description: Through an international group of subsidiaries, CRH makes
and distributes primary building materials and value-added products for
the construction industry and do-it-yourselfers. Construction products
include concrete blocks, pavers, roof tiles, clay bricks, insulation,
security gates and fences, and glass. CRH also makes primary products
such as cement, aggregates, asphalt, ready-mix concrete, and
agricultural and chemical lime. The company, which operates in 20
countries, is expanding through acquisitions, especially in North
America (including assets of bankrupt U.S. Aggregates) and in the
Middle East. North America accounts for about 60% of CRH's sales.

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