Heidelberg Materials AG

Earnings Release • May 19, 2009

January to March

Letter to the shareholders

• Turnover decreases to EUR 2.4 billion in a difficult environment
• Operating income significantly affected by economic factors and weather conditions
• Consistent cost management led to considerable reduction in fixed costs
• Comprehensive reorganisation of the financing structure on track

Overview January - March 2009	January - March
EURm	2008 1)	2009
Turnover	3,062	2,359
Operating income before depreciation (OIBD)	391	202
Operating income	196	11
Additional ordinary result	19	3
Results from participations	6	-6
Earnings before interest and income taxes (EBIT)	220	8
Profit/loss before tax	15	-195
Net income/loss from continuing operations	11	-39
Net income/loss from discontinued operations	1,276	-7
Profit/loss for the financial year	1,287	-46
Group share of profit/loss	1,264	-63
Investments	252	149

1) Figures have been restated following the reclassification of the unwinding of discount to the other financial result

Ladies and Gentlemen,

The worldwide financial and economic crisis has intensified further in recent months. Governments and central banks are anxious to stabilise the situation on the financial markets and stimulate the economy with programmes worth billions.

Economic and seasonal trends impair first quarter significantly

HeidelbergCement's development in the first quarter of 2009 has been characterised to a considerable degree by seasonal effects, in addition to economic factors. Both, Europe and large parts of North America experienced a longlasting period of wintry weather, which also adversely affected sales volumes.

The Group's cement and clinker sales volumes fell by 18.1% to 16.0 million tonnes (previous year: 19.6). The most significant decline was recorded in the North America Group area, followed by Europe. Deliveries of aggregates amounted to 44.5 million tonnes (previous year 59.8), a decrease of 25.5%. Asphalt sales volumes fell by 8.7% to 1.8 million tonnes (previous year: 1.9). Deliveries of ready-mixed concrete decreased by 24.0% to 7.6 million cubic metres (previous year: 10.0).

Group turnover fell by 23.0% in the first quarter to EUR 2,359 million (previous year: 3,062). This was due, in particular, to the heavily declining markets in the countries of Eastern Europe and Central Asia, as well as in Spain, the

Letter to the shareholders

United Kingdom, Turkey and North America. Excluding exchange rate and consolidation effects, turnover decreased by 21.9%. Operating income before depreciation (OIBD) fell to EUR 202 million (previous year: 391). Operating income decreased to EUR 11 million (previous year: 196). "The optimisation measures in production and maintenance have already led to a significant reduction in fixed costs", explained Chairman of the Managing Board Dr. Bernd Scheifele. "In addition, the energy costs have also fallen noticeably. HeidelbergCement will continue with its consistent cost management and focus primarily on generating the highest possible cash flow."

The financial results were around the previous year's level at EUR -203 million (previous year: -205); a decline in interest expenses was offset by negative exchange rate effects of EUR 30 million and a rise in other financial expenses.

Profit/loss before tax from continuing operations totalled EUR -195.0 million (previous year: 14.9). Negative pre-tax results for the quarter in various countries and the release of unused provisions for tax risks in Australia led to a positive figure of EUR 155.9 million (previous year: -4.1) under taxes on income. Net income/loss from continuing operations thus amounted to EUR -39.0 million (previous year: 10.7).

Overall, the loss for the financial year for the first quarter amounted to EUR -45.9 million (previous year: profit 1,287.1). The same quarter of the previous year was characterised by the book profit from the sale of maxit Group. Consequently, the Group share of loss amounted to EUR -63.0 million (previous year: profit 1,264.4).

Reorganisation of the financing structure

HeidelbergCement is working intensively on the comprehensive reorganisation of its financing structure and is continuing to examine all options on the shareholders' equity and debt capital sides. The focus is currently on debt refinancing. HeidelbergCement has presented its bank creditors with a comprehensive refinancing concept. The company is proposing consolidation of existing loans for acquisition financing and other credit lines under a new borrowing facility, and adjustment of loan covenants to bring them into line with prevailing market conditions.

In return, HeidelbergCement is offering a significantly higher margin and an accelerated debt repayment. The debt repayment will include a reduction in investment, optimisation of working capital, consistent cost orientation and a comprehensive programme of divesting non-core business units.

Employees

At the end of the first quarter of 2009, the number of employees in HeidelbergCement's continuing operations was 58,851 (previous year: 65,700). The decrease of 6,849 employees results essentially from the location optimisations and capacity adjustments in North America and the United Kingdom, which were linked with job cuts.

Investments cut back

In the first quarter, cash flow investments in continuing operations were reduced to EUR 149 million (previous year: 252). Investments in tangible fixed assets, which primarily related to maintenance, optimisation and environmental protection measures at our production sites, accounted for EUR 139 million (previous year: 198) of this total. Investments in financial fixed assets reached EUR 10 million (previous year 54); these relate to smaller acquisitions of participations to round off our activities.

Decline in growth in Europe heavier than expected

The economy in Europe has been affected more drastically by the recession than expected just a few months ago; the Eastern European countries are now also in the full grip of the crisis. However, in the first quarter of 2009, building material sales volumes were adversely affected not only by the economic development but also – in large parts of Europe – by the long winter.

In the cement business line, our deliveries in all countries decreased, by a significant amount in most cases. The most significant losses were recorded by the United Kingdom and the Eastern European countries, with the exception

of Poland and Bosnia-Herzegovina. In Sweden and Norway, the decline in volumes was contained as the increased exports largely compensated for the reduced domestic shipments. The sales volumes of our plants in Germany and the Benelux countries also suffered as a result of the weak domestic demand. Overall, our cement and clinker sales volumes in Europe fell by 23.5 % to 6.8 million tonnes (previous year: 8.9).

In the first quarter, deliveries of aggregates decreased by 26.8% to 19.7 million tonnes (previous year: 26.9). The sales volumes of the asphalt operating line remained slightly below the previous year's level. A decrease of 26.8% was recorded in ready-mixed concrete sales volumes, which amounted to 4.0 million cubic metres (previous year 5.5).

In the building products business line, which essentially comprises the building products of Hanson in the United Kingdom, the sustained weakness of residential construction in the United Kingdom led to heavy declines in sales volumes. In order to safeguard our competitiveness, we are responding to this development with further capacity adjustments and production restrictions.

Turnover of the Europe Group area fell by 31.3 % to EUR 1,082 million (previous year: 1,576); in operational terms, the figure decreased by 19.9%. While no significant consolidation effects were recorded, the negative effect of the weakening of the British pound, the Swedish and Norwegian krone and the Eastern European currencies amounted to EUR 238 million.

North America heavily affected by economic factors and weather conditions

In North America, HeidelbergCement is represented in the US and Canada. In the US, the data for the month of March indicate a continuation of the recessionary trend: An additional 660,000 jobs were lost and the unemployment rate rose to 8.5%. Residential construction continued its decline with housing starts down just under 50% in comparison with the previous year. Canada is also suffering greatly as a result of the economic downturn. However, the forecasts for the whole year are more favourable for the US than for Europe, for example. The first impetus is expected to come in the second half of the year, benefiting the construction industry in particular.

In the first quarter, the cement sales volumes of our North American plants fell by 28.8% overall to 2.1 million tonnes (previous year: 3.0). In addition to the slump in demand caused by economic trends, adverse weather conditions in Canada and large parts of the US had a negative impact on the development of sales volumes. In order to ensure capacity utilisation of our plants, we have cut back imports further.

The impact of the decline in construction activity and the weather conditions was also felt in the aggregates and concrete business line. Deliveries of aggregates decreased by 30.8% to 16.8 million tonnes (previous year: 24.2). Asphalt sales volumes also fell significantly. Ready-mixed concrete sales volumes decreased by 39.3% to 1.3 million cubic metres (previous year: 2.1).

The building products business line, which is heavily dependent on residential construction, recorded substantial decreases in sales volumes. The bricks and roof tiles operating lines in particular were heavily affected.

The total turnover in North America fell by 23.6% to EUR 621 million (previous year: 813). In operational terms, i.e. excluding exchange rate effects, the figure decreased by 37.5%.

Slight losses in Asia-Australia-Africa

In the emerging countries of Asia, economic development is also being increasingly affected by the impact of the global financial and economic crisis. In China, however, there are increasing indications that the economy is regaining momentum, thanks to the huge government economic programme. Australia is suffering greatly as a result of the slump in demand for raw materials. The crisis is also progressively intensifying in Turkey.

Overall, the cement and clinker sales volumes of the Asia-Africa-Australia Group area fell by 7.7 % to 7.1 million tonnes (previous year: 7.7) in the first quarter. In Indonesia, cement and clinker sales volumes of our subsidiary Indocement decreased significantly as a result of lower domestic demand and reduced export deliveries. Nevertheless,

Letter to the shareholders

thanks to a margin-oriented pricing policy and cost reduction measures, Indocement recorded a pleasing increase in earnings. In China, our sales volumes increased by more than 50 %; the commissioning of two new production lines in the central Chinese province of Shaanxi in late 2008 made a contribution to this growth. Deliveries from our Indian cement plants remained below the previous year's level. As a result of the market decline in Turkey, the cement and clinker sales volumes of our joint venture Akçansa fell by 4.9% despite increased export deliveries. In Africa, our sales volumes almost reached the previous year's figure, with varied development in the individual countries. Excluding the participations in Nigeria and Niger, which were sold in March 2008, an increase of 4.3% was achieved.

Sales volumes of aggregates decreased by 6.9% to 8.1 million tonnes (previous year: 8.7). A decline was also recorded in the asphalt activities. Deliveries of ready-mixed concrete fell by 4.2 % to 2.3 million cubic metres (previous year: 2.4).

The turnover of the Asia-Australia-Africa Group area was 1.1 % below the previous year at EUR 643 million (previous year: 650). Excluding consolidation and exchange rate effects, turnover rose by 2.8%.

Group Services

The trade volume of our subsidiary HC Trading decreased by 24.7% to 1.8 million tonnes (previous year: 2.4) in the first quarter. A considerable increase in cement deliveries was not sufficient to offset the dramatic decline in the clinker trade volume.

The turnover of our subsidiary HC Fuels, which is responsible for the purchase of fossil fuels, decreased heavily as a result of the dramatic price decline. Overall, the turnover of the Group Services business unit fell by 28.5 % to EUR 119 million (previous year: 166).

Prospects

The deep recession will likely continue over the next few months. As yet, there are no clear signs of a reversal of this trend, despite the stabilisation of individual economic indicators. The economic experts have therefore further reduced their forecasts for the whole of 2009. However, there are indications of possible industry-specific developments as a result of the worldwide economic programmes.

As a result of the sustained downturn, HeidelbergCement anticipates a decline in turnover and operating income in 2009. With the parameters still extremely volatile, it is not possible to make a more precise forecast. "However, with capacity adjustment measures taken at an early stage and the far-reaching cost reduction programmes, Heidelberg-Cement is well-positioned to overcome the difficult challenges", said Dr. Bernd Scheifele. Thanks to its strong international positioning and the focal areas of its product range, HeidelbergCement expects to benefit from the infrastructure projects launched worldwide. Nevertheless, we do not expect the first impetus until the second half of 2009.

Heidelberg, 7 May 2009

Yours sincerely,

Dr. Bernd Scheifele Chairman of the Managing Board

Group profit and loss accounts

Group profit and loss accounts	January - March
EUR '000s	2008 2)	2009
Turnover	3,062,354	2,359,396
Change in stock and work in progress	15,508	-45,869
Own work capitalised	512	1,656
Operating revenue	3,078,374	2,315,183
Other operating income	50,660	63,696
Material costs	-1,261,168	-985,530
Employee and personnel costs	-577,644	-516,857
Other operating expenses	-898,774	-674,874
Operating income before depreciation (OIBD)	391,448	201,618
Depreciation of tangible fixed assets	-190,076	-183,743
Amortisation of intangible assets	-5,562	-6,598
Operating income	195,810	11,277
Additional ordinary income	43,128	21,730
Additional ordinary expenses	-24,536	-19,485
Additional ordinary result	18,592	2,245
Result from associated companies 1)	4,153	-5,716
Result from other participations	1,586	-150
Earnings before interest and taxes (EBIT)	220,141	7,656
		11,123
Interest income Interest expenses	15,868 -212,356	-147,892
Foreign exchange gains and losses	-496	-29,683
Other financial result	-8,281	-36,175
Profit/loss before tax from continuing operations	14,876	-194,971
Taxes on income	-4,146	155,925
Net income/loss from continuing operations	10,730	-39,046
Net income/loss from discontinued operations	1,276,361	-6,871
Profit/loss for the financial year	1,287,091	-45,917
Thereof minority interests	-22,656	-17,046
Thereof Group share of profit/loss	1,264,435	-62,963
Earnings per share in EUR (IAS 33)
Earnings per share attributable to the parent entity	10,50	-0.50
Earnings per share – continuing operations	-0.10	-0.45

-0.05

10.60

1) Net results from associated companies 3,320 -4,897

Earnings per share – discontinued operations

2) Figures have been restated following the reclassification of the unwinding of discount to the other financial result

Group cash flow statement

Group cash flow statement	January - March
EUR '000s	2008	2009
Net income/loss from continuing operations	10,730	-39,046
Taxes on income	4,146	-155,925
Interest income/expenses	196,488	136,769
Dividends received	9,052	2,887
Interest paid	-203,982	-197,395
Taxes paid	-113,460	-45,271
Elimination of non-cash items	224,121	338,121
Cash flow	127,095	40,140
Changes in operating assets	-219,826	28,678
Changes in operating liabilities	-8,134	-198,681
Changes in working capital	-227,960	-170,003
Decrease in provisions through cash payments	-55,035	-66,304
Cash flow from operating activities - continuing operations	-155,900	-196,167
Cash flow from operating activities - discontinued operations	-30,434
Cash flow from operating activities	-186,334	-196,167
Intangible fixed assets	-1,771	-6,242
Tangible fixed assets	-196,487	-132,809
Financial fixed assets	-53,729	-9,907
Investments (cash outflow)	-251,987	-148,958
Proceeds from fixed asset disposals	2,137,367	8,104
Cash from changes in consolidation scope	-5,375	789
Cash flow from investing activities - continuing operations	1,880,005	-140,065
Cash flow from investing activities - discontinued operations	-5,891
Cash flow from investing activities	1,874,114	-140,065
Capital increase	512,500
Dividend payments - minority shareholders	-2,741	-2,451
Proceeds from bond issuance and loans	1,484,517	1,528,921
Repayment of bonds and loans	-4,039,987	-61,832
Cash flow from financing activities - continuing operations	-2,045,711	1,464,638
Cash flow from financing activities - discontinued operations	40,802
Cash flow from financing activities	-2,004,909	1,464,638
Net change in cash and cash equivalents - continuing operations	-321,606	1,128,406
Net change in cash and cash equivalents - discontinued operations	4,477
Net change in cash and cash equivalents	-317,129	1,128,406
Effect of exchange rate changes	-38,430	13,431
Cash and cash equivalents at 1 January	845,736	843,646
Cash and cash equivalents at 31 March	490,177	1,985,483
Reclassification of cash and cash equivalents according to IFRS 5		-3,348
Cash and cash equivalents presented in the balance sheet at 31 March	490,177	1,982,135

Group balance sheet

Assets
EUR '000s	31 Dec. 2008	31 Mar. 2009
Long-term assets
Intangible assets	10,150,990	10,426,920
Tangible fixed assets
Land and buildings	4,622,182	4,737,502
Plant and machinery	4,299,917	4,279,295
Fixtures, fittings, tools and equipment	237,434	282,999
Payment on account and assets under construction	775,944	778,067
	9,935,477	10,077,863
Financial fixed assets
Investments in associates	540,016	519,075
Financial investments	81,631	81,283
Loans to participations	48,631	48,369
Other loans and derivative financial instruments	24,198	27,339
	694,476	676,066
Fixed assets	20,780,943	21,180,849
Deferred taxes	129,489	159,661
Other long-term receivables	365,715	353,842
Long-term tax assets	18,410	21,048
	21,294,557	21,715,400
Short-term assets
Stock
Raw materials and consumables	734,766	715,184
Work in progress	183,294	193,573
Finished goods and goods for resale	788,254	765,284
Payments on account	24,706	20,699
	1,731,020	1,694,740
Receivables and other assets
Short-term financial receivables	160,222	164,950
Trade receivables	1,544,701	1,556,468
Other short-term operating receivables	382,168	450,504
Current tax assets	158,125	153,310
	2,245,216	2,325,232
Financial investments and derivative financial instruments	173,679	24,760
Cash at bank and in hand	843,646	1,982,135
	4,993,561	6,026,867
Assets held for sale		80,217
Balance sheet total	26,288,118	27,822,484

Liabilities
EUR '000s	31 Dec. 2008	31 Mar. 2009
Shareholders' equity and minority interests
Subscribed share capital	375,000	375,000
Share premium	3,470,892	3,470,892
Profit and loss reserve	6,316,797	6,280,497
Currency translation	-2,442,548	-2,075,645
Equity attributable to shareholders	7,720,141	8,050,744
Minority interests	540,703	544,478
	8,260,844	8,595,222
Long-term provisions and liabilities
Provisions
Provisions for pensions	651,973	624,438
Deferred taxes	966,569	898,332
Other long-term provisions	1,062,630	1,086,399
	2,681,172	2,609,169
Liabilities
Debenture loans	3,055,379	3,184,164
Bank loans	7,525,359	8,546,032
Other long-term financial liabilities	286,827	290,169
	10,867,565	12,020,365
Other long-term operating liabilities	196,014	194,483
Long-term tax liabilities	243,214	184,210
	11,306,793	12,399,058
	13,987,965	15,008,227
Short-term provisions and liabilities
Provisions	323,793	321,691
Liabilities
Debenture loans (current portion)	430,382	342,701
Bank loans (current portion)	1,017,629	1,484,562
Other short-term financial liabilities	317,563	284,322
	1,765,574	2,111,585
Trade payables	991,308	794,128
Current income taxes payables	198,078	176,703
Other short-term operating liabilities	760,556	786,861
	3,715,516	3,869,277
	4,039,309	4,190,968
Provisions and liabilities associated with assets held for sale		28,067
Total liabilities	18,027,274	19,227,262
Balance sheet total	26,288,118	27,822,484

1) Includes puttable minorities with an amount of EUR '000s 49,211 (previous year: 50,251)

Statement of recognised income and expense

Statement of recognised income and expense EUR '000s	January - March 2008		January - March 2009
Profit/loss for the financial year		1,287,091		-45,917
IAS 19 Actuarial gains and losses			41,680
Income taxes			-12,479
				29,201
IAS 39 Cash flow hedges	-5,903		-9,002
Income taxes	1,636		2,440
		-4,267		-6,562
IAS 39 Available for sale assets	-5,356		-2,830
Income taxes			1,247
		-5,356		-1,583
IFRS 3 Business combinations	-119		7,944
Income taxes	45		-2,700
		-74		5,244
Other	-1,058		-512
Income taxes	-8		630
		-1,066		118
Currency translation		-1,141,060		356,997
Other comprehensive income		-1,151,823		383,415
Total comprehensive income		135,268		337,498
Relating to minority interests		5,677		6,895
Relating to HeidelbergCement AG shareholders		129,591		330,603

Reconciliation of changes in total equity/Notes

Reconciliation of changes in total equity EUR '000s	Subscribed share capital	Share premium	Retained earnings	Cash flow hedge reserve	AfS reserve	Asset revaluation reserve	Currency translation	Equity attri butable to shareholders	Minority interests	Total equity
1 January 2008	360,000	2,973,392	4,720,729	9,734	26,567	4,946	-1,098,404	6,996,964	521,861	7,518,825
Profit/loss for the financial year			1,264,435					1,264,435	22,656	1,287,091
Other compre hensive income			-298	-4,467	-5,356	-74		-10,195	-568	-10,763
Exchange rate			-40	-6	46		-1,124,649	-1,124,649	-16,411	-1,141,060
Total compre hensive income			1,264,097	-4,473	-5,310	-74	-1,124,649	129,591	5,677	135,268
Changes in con solidation scope									-34,072	-34,072
Capital increase from issuance of new shares	15,000	497,500						512,500		512,500
Dividends									-2,741	-2,741
31 March 2008	375,000	3,470,892	5,984,826	5,261	21,257	4,872	-2,223,053	7,639,055	490,725	8,129,780
1 January 2009	375,000	3,470,892	6,316,964	-14,234	9,166	4,901	-2,442,548	7,720,141	540,703	8,260,844
Profit/loss for the financial year			-62,963					-62,963	17,046	-45,917
Other compre hensive income			29,319	-6,317	-1,583	5,244		26,663	-245	26,418
Exchange rate							366,903	366,903	-9,906	356,997
Total compre hensive income			-33,644	-6,317	-1,583	5,244	366,903	330,603	6,895	337,498
Changes in con solidation scope									-669	-669
Dividends									-2,451	-2,451
31 March 2009	375,000	3,470,892	6,283,320	-20,551	7,583	10,145	-2,075,645	8,050,744	544,478	8,595,222

Segment reporting / Notes

External turnover Inter-Group areas turnover Turnover Change to previous year in % Operating income before depreciation (OIBD) as % of turnover Depreciation Operating income as % of turnover Results from participations Additional ordinary result Earnings before interest and taxes (EBIT) Capital expenditures 1) Segment assets 2) OIBD as % of segment assets Number of employees as at 31 March Average number of employees Group areas January - March 2009 (Primary reporting format under IFRS 8) EURm 2008 2009 1,065 18 1,082 -31.3% 57 5.3% -88 -31 -2.9% -5 -37 92 8,518 0.7% 25,924 25,925 1,556 20 1,576 217 13.8% -98 119 7.5% 3 121 98 9,687 2.2% 29,296 29,385 Europe 621 621 -23.6% -2 -0.3% -67 -69 -11.2% -2 -72 24 8,666 0.0% 15,293 15,293 813 813 37 4.6% -62 -25 -3.1% -1 -26 35 7,291 0.5% 18,303 18,784 North America 2008 2009

1) Capital expenditures = in the segment columns: tangible fixed assets and intangible assets investments; in the reconciliation column: financial fixed assets investments

2) Segments assets = tangible fixed assets and intangible assets

Asia-Australia-Africa		Group Services		Reconciliation		Continuing Operations		Discontinued Operations
2008	2009	2008	2009	2008	2009	2008	2009	2008	2009
634	632	58	42			3,062	2,359	176
15	11	108	77	-143	-105
650	643 -1.1%	166	119 -28.5%	-143	-105	3,062	2,359 -23.0%	176
135	130	3	16			391	202	14
20.7%	20.2%	1.6%	13.8%			12.8%	8.5%	8.0%
-35	-34	0	0			-196	-190	-10
100	96	2	16			196	11	4
15.3%	14.9%	1.5%	13.6%			6.4%	0.5%	2.5%
4	2					6	-6	0
				19	3	19	3
104	98	2	16	19	3	220	8	4
65	23			54	10	252	149
3,296	3,286	36	34			20,311	20,505
4.1%	4.0%	7.4%	47.9%			1.9%	1.0%
18,044	17,582	56	51			65,700	58,851
18,040	17,610	56	51			66,266	58,879

Notes to the interim report

Accounting and consolidation principles

The Group's unaudited interim accounts of 31 March 2009 were prepared according to the International Financial Reporting Standards (IFRS) for interim reporting as applicable in the European Union. The same accounting and valuation methods were applied as in the preparation of the Group annual accounts as of 31 December 2008, as well as IAS 34 "Interim Financial Reporting". The IASB standards and interpretations, in the reporting period mandatory for the first time, had no impact on the Group's financial position and performance.

Seasonal nature of the business

Regional weather conditions are reflected in HeidelbergCement's production and sales position.

Changes in the consolidation scope

There were no changes in the consolidation scope in comparison with 31 December 2008.

Non-current assets held for sale

On 13 March 2009, HeidelbergCement signed a letter of intent on the sale of the Australian joint venture Pioneer Road Services Pty Ltd to Fulton Hogan Pty Ltd, Australia. The assets and liabilities of Pioneer Road Services are shown in the balance sheet as held for sale under the current assets and liabilities.

Turnover development by Group areas and business lines January to March 2009
			Aggregates		Building		Intra Group
EURm	Cement		and concrete		products		eliminations		Total
	2008	2009	2008	2009	2008	2009	2008	2009	2008	2009
Europe	707	478	789	560	172	115	-92	-71	1,576	1,082
North America	253	190	392	281	207	178	-39	-28	813	621
Asia-Australia-Africa	405	404	236	240	18	8	-10	-9	650	643
Total	1,366	1,072	1,417	1,082	397	300	-141	-108	3,039	2,346
Group Services									166	119
Inter-Group area turnover									-143	-105
Continuing operations									3,062	2,359

Notes

Exchange rates		Exchange rates at reporting day 31 Dec. 2008	31 Mar. 2009	Average exchange rates 01-03/2008	01-03/2009
		EUR	EUR	EUR	EUR
USD	US	1.3978	1.3250	1.4992	1.3059
AUD	Australia	1.9762	1.9147	1.6565	1.9642
CAD	Canada	1.7004	1.6704	1.5058	1.6247
CNY	China	9.5365	9.0536	10.7382	8.9266
GBP	Great Britain	0.9557	0.9250	0.7580	0.9091
GEL	Georgia	2.3231	2.2053	2.3234	2.1739
HRK	Croatia	7.3759	7.4388	7.2860	7.3998
IDR	Indonesia	15,305.91	15,336.88	13,772.03	15,196.36
INR	India	67.9051	66.9920	59.5205	64.8495
KZT	Kazakhstan	169.0499	199.9160	180.5979	181.9962
NOK	Norway	9.7081	8.9178	7.9652	8.9637
PLN	Poland	4.1389	4.6208	3.5744	4.4968
RON	Romania	4.0286	4.2343	3.6879	4.2625
SEK	Sweden	10.9175	10.9246	9.3994	10.9492
CZK	Czech Republic	26.7175	27.3413	25.5639	27.5829
HUF	Hungary	263.2057	307.4928	258.9321	293.5042
TRY	Turkey	2.1526	2.2015	1.8059	2.1660

Related parties disclosures

No reportable transactions with related companies or persons took place in the reporting period beyond normal business relations.

4 August 2009
4 November 2009
6 May 2010

HeidelbergCement AG

Berliner Strasse 6 69120 Heidelberg, Germany www.heidelbergcement.com