In regard to press news published yesterday, it should be noted that the reported figures are to be viewed as management objectives and do not come from formally approved company plans or budgets.

Also, clearly the indications of a € 650 million Ebitda for the current year, a € 750 million Ebitda target from 2005 onwards and a medium-term net debt/Ebitda ratio of 2.0 to 2.5 apply to the combined of Buzzi Unicem and Dyckerhoff. These goals are reasonable, conditional upon the favourable 1H/03 trend continuing in the traditional markets and the construction market in Germany proving to be resilient.