Following the $450 million US Private Placement (USPP) entered into on May 29,2002 through its fully owned subsidiary RC Cement Holding Company, Buzzi Unicem is required to file with the institutional investors within 45 days from closing the group’s Consolidated Quarterly Financial Statements. The same information, to be approved by the Board of Directors, is therefore being simultaneously provided hereby.

Consolidated net sales for the half year ended June 30,2002 at 740.0 million euros and EBITDA at 220.7 million are up respectively 3.8% and 1% versus 712.7 and 218.6 million euros of 1stH 2001. At constant USD/EUR and MXP/EUR exchange rates and equal consolidation scope, sales and EBITDA would show an increase of respectively 7.2% and 6.4% over 1stH 2001.

Overall financials, adjustments and extraordinary income and expenses amount to (13.7) million euros against (9.6) of the 1stH 2001. Significant items thereto are a one-off 11.0 million euros gain on foreign exchange, (9.2) million goodwill amortization on the Dyckerhoff stock and (6.0) million euros cost from the company’s 19% share participation in Dyckerhoff 1stH 2002 results.

Also due to higher non tax-deductible items and a slight increase in minority interests, group’s net profit for the half year ended June 30, 2002 amounts to 61.7 million euros (79.8 million in the 1stH 2001). Cashflow stands at 142.4 million euros versus 150.8 million, however cashflow before goodwill charges is at 151.6 million euros (versus 150.8 of the previous half year).

The group’s net indebtedness as of June 30,2002 stands at 543.9 million euros, virtually unchanged versus 544.1 of year end 2001 and after 35.5 million euros dividends overall paid, 61.4 million for the Dyckerhoff stock purchase completion to 34% ordinary stock and about 10 million euros in growth projects.

Shareholders’ equity shows a decrease of (69.2) million euros to 1,041.4 million as of June 30,2002, with the major changes being (32.1) million dividends, (87.6) million difference on foreign financial statements translation and 61.7 million consolidated net profit for the six months period.

The enclosed financial statements have not yet being examined by the Statutory Auditors Committee nor audited yet. They will be reported in the semiannual report as of June 30, 2002 to be approved by the Board of Directors and made available to the public by September 13, 2002, in compliance to article 82, comma 2 of Consob’s resolution no. 1971 dated May 14,1999 as amended, in lieu of the second quarter report as of June 30,2002.