133rd Annual General Meeting of Wienerberger AG Welcome to the 133rd Annual General Meeting of Wienerberger AG Vienna, May 8, 2002

2001: Year of Transition 2002: Building the Future

Content The Year 2001 Strategy – the Future of Wienerberger First Quarter and Outlook on 2002

The Year 2001

Internal Changes Managing Board (May 21, 2001) Holding company  Operating Building Materials Company "Year of Harvest 2000" with high non-recurring income (40% of Group EBIT) Building materials  (Value) Driver for the future Greater transparency

External Changes Decline in global economy in 2001 Intensified and accelerated by September 11 Economic slump in Germany and Poland End of 10-year growth phase in USA  Adjustment of strategy and measures

Strategy 2001 Optimization programs: Early start and focus on Germany, Austria, Switzerland, Poland and USA Integration and focusing Cautious with investments - no major projects

Measures for 2001 Active management of capacity and costs Shutdown of 17 plants in Europe and USA Market restructuring in Germany: Acquisition of Megalith, Gessner and Taucha Acquisition of Apfelberg in Austria and marketing cooperation for hollow bricks in Switzerland New construction of prefab concrete element ceiling plant in Hungary and completion of Gnaszyn brick plant in Poland

Measures for 2001 (2) Expansion of direkt sales in USA Integration of Optiroc brick business in Northern Europe Sale of Rouffach brick plant in France 30% investment in Fornaci Giuliane S.p.A. with 3 brick plants in Italy

Operating Results for 2001 Losses in Germany, Austria and Switzerland totaling € -43 million in operating profit Decline in Benelux - negative influence from Germany Sharp earnings decline in Poland (but still positive!) Higher profits in Eastern Europe (ex. Poland) and Italy End of 10-year growth phase leads to lower earnings in USA Declines in pipe investments, Bramac gains through strong presence in Eastern Europe

Wienerberger Group Operating Results

Results by Segment Sales 2001 Operating EBITDA 2001

Restructuring Shutdown of 17 primarily older plants to adjust production capacity to match slowing demand Non-recurring restructuring costs of € 92.0 million, including € 73.0 million in write-downs Roughly one-half of restructuring costs related to Germany  Requirement for return to former earning power

Wienerberger Group 1) Thereof approx. € 110 mill. for current investments

Value Management Earnings per Share ROCE

Balance Sheet Structure

Share Buyback From October 1– 31, 2001, approved by 131st AGM Conducted over Vienna Stock Exchange Volume: 4,176,339 shares (= 6.01%) repurchased Average price: € 16.09 per share Capital required: € 67.2 million Goal : optimize capital structure and cost of capital Gearing increased and WACC reduced from 8.0 to 7.0% Shares cancelled  New issued capital: € 65.278.973

Treasury Stock In 2000 Wienerberger purchased 640,000 shares of its own stock for a Performance Share Plan Treasury stock as a percentage of issued capital: 0.98% Actual value (April 30, 2002): € 11.52 million Performance Share Plan expired in April 2001 Price goal not reached  No shares for management Managing Board wants to use shares for employee stock participation program and stock option plan (see Point 7)

Transition Year 2001 Exception in development of earnings Higher EBITDA (> € 200 mill.) in spite of market downturn and restructuring Wienerberger – secure in times of crisis ! No change in dividend policy (3.5 – 4,.% dividend yield) Dividend for 2001: € 0.60 per share (2000: € 0.80)

Strategy – the future of Wienerberger

Pipe and Roofing Investments (JVs) (and related products) Wienerberger Today Wienerberger AG Pipe and Roofing Investments (JVs) Bricks (and related products) Real Estate and Other Pipelife Plastic pipes Real Estate Austria Pavers Eastern Europe Central and Eastern Europe Steinzeug Clay pipes Other Bramac Concrete roof tiles Western Europe Real Estate and Other = < 1% of Sales and Capital Employed in 2001 Germany Switzerland Italy Tondach Gleinstätten Clay roof tiles France Benelux Northen Europe Pipe and Roofing Investments = 28% of Sales in 2001 USA Bricks = 71% of Sales in 2001

Wienerberger Group Multicultural company Decentralized organization Transparent structure  Direct and efficient management by top executives

Core Brick Business Wienerberger: leader 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  60% share of brick market in Europe Bricks: strong position in non-residential segment (facade)

Hollow Bricks Continental Europe + North and Central Africa Russia and China Latin America

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

Wienerberger Markets USA Europe Growth markets Turnaround markets Southeast Midwest Turnaround markets Growth markets Free cash flow markets Europe

Mid-term Strategy Core Brick Business Growth markets (Eastern Europe and USA)  Expansion  Regional growth  Bolt-on acquisitions Turnaround markets (D, A, CH)  Return to positive earnings  Market restructuring  Price recovery Mature markets (Western Europe)  Free cash flow  Optimization  Stronger market position

Mid-term Strategy Investments and Real Estate Pipe and Roofing Investments  Optimize cash flows  Dissolve joint venture structures Real Estate and Other  Sell non-operating assets  Value: € 160 to 180 million  Realize over next 5 years

Strategy in 3 Phases Phase 1 – Uncertainty  Internal and external consolidation Cautious with investments, no major projects Phase 2 – Building the Future Stronger earning power after optimization in 2001 Free cash flows Phase 3 – Profitable Growth Bolt-on acquisitions New markets

Strong Basis for the Future High cash flows Current investment less than depreciation (60 - 70%) Solid financing structure: 67% Gearing Active management of costs and capacity Core expertise in bricks  Roll-out concepts Strong positions in all local markets Motivated and experienced international management team  stock participation models

First Quarter and Outlook on 2002

Report on the First Quarter of 2002 In total, significant increase in earnings despite unfavorable business climate Operating improvement in all areas after cost optimization and capacity adjustment in 2001 Price increase in Germany as of March 1 EU approved acquisition of Hanson Brick Continental Europe  integration started

Acquisition of Hanson Brick Continental Europe Bolt-on Acquisition in Core Business Takeover of 23 brick plants in Holland (10), Belgium (7), Germany (3), Poland (2) and France (1) Strengthening of facing brick area Expansion of product range (clay pavers) High synergy potential through integration in Terca

Hanson Brick Continental Europe 2001 Sales: € 150 million EBITDA: € 14.2 million Employees: 1,060 Attractive purchase price: € 64.5 million  Goal: to strengthen earning power through integration and use of synergies

Results for the First Quarter of 2002 EBITDA in Austria, Hungary, Slovenia, Croatia, Slovakia and Semmelrock significantly above prior year level Substantial earnings growth in Germany due to advance purchases before price increase (March 1) Improvement in France, Switzerland and Italy Earnings decline in Belgium and the Netherlands

Results for the First Quarter of 2002 Satisfactory earnings growth in USA Sales declines at Pipelife and Steinzeug, but major improvement in earnings following optimization in 2001 Sales and earnings growth at Bramac supported by focus on Eastern Europe

Sales

EBITDA

EBIT

Outlook on 2002 Central Europe: new housing starts remain under pressure, but price recovery in Germany General stability in Western Europe  Integration of Hanson will strengthen earning power Positive forecasts for new housing starts in USA Long-term growth in Eastern Europe, no recovery in Poland before 2003  Goal for 2002: > € 100 mill. EBIT (2003: > € 147 mill.)

Potentials Strong presence and high earning power in growth market of Eastern Europe Bolt-on acquisitions and organic growth in USA and Western Europe Significant turnaround potential in Central Europe (D, A, CH) Long-term opportunities for growth Crisis-proof Transparency

Investor Relations Second-best Annual Report 2000 in Austria (Business Journal “Trend“) Second Place in Austrian Stock Exchange Award 2001 (Business Journal “Gewinn“) Further improvement in Quarterly Reporting starting in Third Quarter 2002 Simultaneous information to all shareholders via Website: press releases, schedules, live transmission of press and analysts conferences etc. under www.wienerberger.com

Our Mission Building Value for Investors, Customers, and Employees