Hanson Acquires Athens Brick for $40 Million; North America's Largest Brick Manufacturer Continues Expansion in Fast-Growing Texas Region.

Business Editors

CHARLOTTE, N.C.--(BUSINESS WIRE)--March 1, 2004

(NYSE:HAN)

Hanson Brick, North America's largest brick manufacturer, announced today that it has acquired Athens Brick Company Inc. from Texas Industries, Inc. for $40.4 million in cash on a (debt-free basis and subject to usual post-closing adjustments).

"This is an exciting expansion of Hanson Brick's business in Texas -- the largest market for brick in North America," said Mike Donahue, president of Hanson Brick & Tile. "This means increased capacity, operating efficiencies and a more diverse product offering for Hanson Brick's customers."

Athens serves Texas and adjoining states from two plants in Texas (Mineral Wells and Athens) and one in western Louisiana (Mooringsport). These facilities produce facing brick used in residential and commercial construction. The plants employ approximately 90 people and have a combined annual capacity of 90 million brick. Athens controls clay and shale reserves sufficient for more than twenty years' production.

Housing starts in Texas for the foreseeable future are well ahead of the national average. The acquisition will bring Hanson Brick's capacity to 1.7 billion bricks per year and adds Athens' three facilities to its 22 plants in Texas, Kentucky, Michigan, the Carolinas, Quebec and Ontario.

In its fiscal year ending May 2003, Athens generated unaudited revenue of $14.7 million and EBITDA of $6.5 million. During that period, Athens shipped more than 84 million brick. After taking into account possible fair value adjustments, goodwill of approximately $20.0 million is estimated for this acquisition.

The Athens plants will be managed as part of Hanson Brick's South Central Region, bringing its combined output of facing brick in the area to 450 million across eight plants.

"This transaction is part of Hanson's strategy to enhance our existing strong market positions, and it will make an immediate contribution to earnings," said Richard Manning, president of Hanson Building Products America. "Hanson's North American brick business has been a steady performer, and we see further growth ahead."

About Hanson Brick (www.hansonbrick.com)

Hanson Brick is North America's largest brick manufacturer, with 2,000 employees and operations across the United States and Canada. The company provides its customers with superior selection and service, offering five regional brick collections that include more than 1,000 styles of brick. Hanson Brick is based in Charlotte, North Carolina. In March 2004, Hanson Brick acquired Athens Brick with plants in Texas and Louisiana.

Hanson Brick is part of Hanson PLC (NYSE:HAN), an international building materials company, with more than 28,000 employees and operations in 17 countries. Hanson PLC is the largest producer of aggregates, the second largest producer of pipe and the third largest producer of brick in the world.