Re Agreement

RNS Number:6741H
CSR Ld
19 February 2003



 CSR WELCOMES ACCC APPROVAL OF MERGER TO FORM AUSTRALIA'S LARGEST CEMENT GROUP


CSR Limited today welcomed the ACCC's approval of the merger of Australian
Cement Holdings (ACH) - CSR's 50-50 cement joint venture with Hanson PLC - and
Queensland Cement Ltd (QCL), to form Australia's largest cement group.


The new group - which is still to be named - will be an Australian company,
owned 50% by Holcim (QCL's parent company) and 25% each by CSR and Hanson.
Annual turnover will be over $700 million, with cement production around three
million tonnes, from three principal plants - Gladstone, in Queensland
(currently a QCL plant), Railton in Tasmania (ACH) and Kandos in New South Wales
(ACH).


The ACCC approval of the merger will enable the three companies to better
utilise existing cement capacity, with resultant cost savings in logistics and
corporate overheads.


The new group will have a comprehensive network of plants and terminals capable
of providing better service to a wider group of customers in the eastern states.
It is also expected to be able to compete more effectively in a very
competitive international market.


The three companies are currently progressing their due diligence and the
necessary documentation for the merger.


For further information, please call Debra Stirling on 61 2 9235 8040 or 0419
476 546


19 FEBRUARY 2003

                  CA&IR 07/03

                      This information is provided by RNS
            The company news service from the London Stock Exchange
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