Analyst Meeting Results 1-6/2002, Shareholder Structure, Outlook and Strategy London, August 28, 2002

2001: Year of Transition 2002: Building the Future

Three-Phase Strategy Phase 1 – Uncertainty in 2001 Internal and external consolidation Reduction in capital expenditure, no large projects Phase 2 – Building the Future in 2002 Earning power strengthened by optimization in 2001 Return to level of 2000 and free cash flow Phase 3 – Profitable Growth Bolt-on acquisitions New markets

Actions in 2001 Active management of capacity and costs Shut-down of 17 plants in Europe and the USA Market restructuring in Germany: takeover of Megalith, Gessner and Taucha Acquisition of Apfelberg in Austria and marketing cooperation for hollow bricks in Switzerland Integration of Optiroc brick activities in North Europe  Preparation for unfavorable operating environment

First Six Months of 2002

Economic Climate (external) First Six Months of 2002 Forecasts for global economic recovery not realized Difficult conditions in West Europe (Germany, Netherlands,...) Residential construction in Germany continues to decline Uncertainty over economic developments in USA Growth slows in East Europe, but exceeds West Europe by a significant margin – strong market positions! Slump on key international exchanges causes major decline in price of Wienerberger share

Wienerberger Group (internal) First Six Months of 2002 Optimization programs and capacity adjustment in 2001 provide major cost relief Acquisition and integration of Hanson BCE with annual synergies of € 13 million beginning in 2003 Energy prices stabilize

Results for the First Six Months of 2002 Sales +7% to € million (organic +3%), EBITDA +37% to € million Earnings per share from € 0.20 to 0.67 Results nearly match record level of 2000 in spite of difficult business environment EBITDA from integration of Hanson BCE: € 5.3 mill. Pipelife (and Steinzeug) also improve performance No major non-recurring income in first six months of 2002 or 2001

Results for the First Six Months of 2002 Turnaround markets (D, A, CH): Earnings improved by € 20 million, EBIT break-even realized (without non-recurring profit) Growth market East Europe (incl. A): EBITDA +28% to € 43.5 million Growth market USA: EBITDA +15% to € 29.1 million Mature markets in West Europe (incl. D, CH): EBITDA +69% to € 55.4 million

Wienerberger Group

1) Before amortization of goodwill, excl. non-recurring items 2) Before major projects (Hanson bricks): + € 55.0 mill. 3) WACC 1-6/2001: 8%, 1-6/2002: 7%

Wienerberger Group 1) Equity including minority interest 2) For expected: ca. 70%

Results by Segment Sales EBITDA

Bricks Central and Eastern Europe

Austria: earnings improve despite weak market Hungary: another solid increase (record level) Czech Republic: price policy leads to slight loss in market share Slovakia: strong improvement in earnings Poland: better than expected Croatia and Slovenia: further earnings growth in markets that are becoming more difficult Semmelrock (pavers): much better than prior year

Bricks Central and Eastern Europe Projects Takeover and Integration Hanson  Closing 22. April  Integration of 2 facing brick plants in Poland  Reduction of headcount in administration and sales Takeover hollow brick plant Lajsi in Poland Preparations for plant construction in Rumania Takeover of AGB (1 concrete pavers plant) in Poland by Semmelrock

Bricks Western Europe

Germany: significant improvement in earnings after restructuring and price increase Switzerland: significant improvement in earnings after restructuring and price increase Italy: further major improvement in earnings Belgium: earnings stable through integration of Hanson Netherlands: market decline - earnings stable through integration of Hanson France: earnings increase, start of construction Pont de Vaux

Integration Hanson Phase 1 22 April 2002: Closing of takeover Hanson Brick Continental Europe (Hanson BCE) End of June: Phase 1 of integration in Wienerberger Belgium and Netherlands finalized:  only 1 IT system  only 1 administration department per country  only 1 sales and marketing team per country 185 employees laid off Synergies of € 13 million partly realized in 2002, fully in 2003

Integration Hanson Phase 2 Industrial reorganization Adaptation of product mix Rationalization of production In the Netherlands:  closing of brick plants Lobith and Terra In Germany:  Turnaround realized by the end of June  3 out of 4 plants closed

Bricks USA

Sales volume stable – prices increased slightly Slight loss in market share in North and South Carolina Residential construction at high level, but slight trend to low-cost housing Lower energy costs Expansion of direct distribution

Pipe and Roofing Investments

Pipelife: earnings growth after optimization, turnaround in USA Steinzeug: Sales volume decline in Germany, earnings improve but still unsatisfactory Bramac: Austria weak, Eastern Europe positive, earnings at prior year level

Summary First Six Months of 2002 Significant improvement in earnings in contrast to market trend through internal strength

Outlook and Goals for 2002

Outlook Second Six Months of 2002 Uncertainty on capital markets after "crash"  Lack of orientation Forecasts for growth continually reduced Projections for construction branch reserved For Wienerberger this means: focus on added increase in internal strength

Outlook on 2002 and 2003 Central Europe: new housing starts under pressure  sales volumes decline, but price recovery in Germany General trend in Western Europe stable  Market decline in the Netherlands  Earning power strengthened by Hanson integration US housing starts stable  Development of consumer confidence ? Long-term growth in Eastern Europe  Poland already in 2002 better than expected

Goals for 2002 Return to earning power and further profitable growth Minor capacity adjustments and optimization measures if necessary (Germany, Netherlands) Minimize stocks 2002 total: Operating EBIT significantly above € 100 million (+ closer to comparable record level of € 147 mill. in 2000)

Shareholder Structure

Development of Shareholder Structure Amendment of Shareholders' Agreement between Bank Austria and Koramic Reduction of shares to under 50% planned Key step towards "Free Float Company" Wienerberger has opportunity to finance future expansion on capital markets Sales by core shareholders  in a structured manner  to avoid negative influence on the Wienerberger share price  in cooperation with the company

Strategy – the future of Wienerberger

Core Brick Business Wienerberger Core Business: Bricks  leading market positions in hollow and facing bricks in Europe and the USA Bricks: the most important material for residential construction New housing starts in Europe: ca. 2 mill. housing units per year, of which 60% with bricks Plus: strong position in non-residential segment (facade)

Hollow Bricks Latin America Russia and ChinaContinental Europe North and Central Africa

UK: 20% Northwest Europe: 20% Facing Bricks North America: 30% Remainder: other markets Australia: 15% South Africa: 10% No Wienerberger target markets

Mid-term Strategy Wienerberger Group Bricks  Core business  Maximize free cash flow from existing business  Expand market positions / market shares Pipe and Roofing Investments  Optimize cash flows  Dissolve joint venture structures (acquire or sell) Real Estate and Other  Sell non-operating assets  Value: € 160 to 180 million  Realize within next 5 years

Mid-term Strategy Bricks Optimisation of Existing Operations and Realization of Synergies   Continued Marketing  Image campaign  Lobbying  Product development  Customer service  Efficient IT based execution   Technology/Engineering  Permanent quality and cost control   Procurement   IT Implementation

European Brick Markets in 2002 Turnaround markets Mature markets Growth markets No Wienerberger presence

Mid-term Strategy Bricks Mature markets: Western Europe  Residential housing markets not expected to grow significantly, nor share of bricks in total market  Sales/earnings growth to be derived from other sources (increase of market share/consolidation) Growth markets: Eastern Europe, US  Markets with substantial potential for growth, through increase of construction activity and/or share of bricks in total market  Sales/earnings growth primarily derived from growing with the market Turnaround markets: D, CH, A  Markets either at bottom of the cycle or expected to shrink further  Sales/earnings growth to come from recovery New markets

Strategy - Summary Continually optimize and increase internal strength Growth:  More smaller projects in brick area (bolt-on)  Few large projects  Reinvest cash flows  Added financing from divestments (non-core business) Dissolve joint venture structures

Positioning and Potential World leader in bricks (hollow and facing) The "consolidator" in the brick industry Balanced geographic portfolio Innovation leader with the best products on the market Technology and cost leadership Possible development of new segment (brick-related)

Building Value for Investors, Customers, and Employees Our Mission Wienerberger Investor Relations Wienerberger AG, A-1100 Vienna, Wienerbergstrasse 11 T , F |