Annual General Meeting of Shareholders

on Wednesday, 4 May 2005, in the Portland Forum at Herrenberg (former Festival Hall) in Leimen

In his report to around 450 shareholders the Chairman of the Managing Board Dr. Bernd Scheifele draw a conclusion under the last three difficult years for HeidelbergCement.

Concerning the outlook for 2005, he explained: “Despite a rather weak first quarter, we expect moderate increases in sales volumes and turnover in the current financial year. Once again, North America and the growth markets will provide strong impetus. Germany, where the number of building permits is continuously decreasing, will undoubtedly remain weak. We will focus on increasing efficiency and reducing costs in all areas. We will continue to take part in the process of consolidation taking place in the cement sector worldwide. We plan to make small or medium-sized acquisitions and will make sure we can improve further in existing markets.”

Out of the share capital for the company amounting to EUR 278 million 44.51 % were represented. The Annual General Meeting accepted all points on the agenda with a large majority.