CSR Limited subsidiary Rinker Materials Corporation(“Rinker”) has successfully completed the US$540 million acquisition of KiewitMaterials Company (“Kiewit Materials”), a major integrated aggregates, concreteand asphalt company with operations in Arizona and other western states of theUnited States.

Rinker today announced the successful completion of itscash tender offer, at US$17 per share, for all of the outstanding common stockof Kiewit Materials. The tender offer expired at 5 pm (EST) on 25 September2002.All necessary regulatoryapprovals have also been received.

Based on preliminary information provided by thedepositary, a total of 37.5 million Kiewit Materials shares of common stockwere validly tendered and not withdrawn, representing approximately 98.3% ofthe 38,118,248 shares outstanding.Allvalidly tendered shares have been accepted for purchase and payment inaccordance with the terms of the offer.

Because Rinker acquired greater than 90% of theoutstanding Kiewit Materials’ shares, all remaining shares are expected to becompulsorily acquired at the same price.The US$540 million purchase price, net of projected cashat closing, is for 100% of the outstanding common stock in Kiewit Materials

Kiewit Materials is the 16th largest aggregates producer in the US,centred in the high population growth regions of the west and southwestUS.It is the leading materialssupplier in Arizona, the second-fastest growing state in the US, with a long termpopulation growth rate around three times the US national average.

CSR Managing Director and Chief Executive PeterKirby said the acquisition of Kiewit Materials lifts both Rinker’s currentaggregates and premix concrete output by around 50%.It gives Rinker strong positions in a number of states includingthe leading position in Arizona.

“The acquisition is a major strategic expansion for Rinkerin the US, and provides excellent opportunities for further growth in the westand southwest of the US,” he said.

Including the Kiewit Materials operations, Rinker will bethe fifth largest aggregates producer in the U.S., supplying over 84 milliontons per year, and the second largest producer of pre-mix concrete, supplyingover 13 million cubic yards each year.

Around 80% of Kiewit Materials’ operationsare in Arizona. Operations are also located in:

The Pacific North-West, around Portland, Oregon andsouth-west Washington

In California, in the north San Francisco Bay area betweenVallejo and Sacramento, and in the Yolo Valley in central California

In Wyoming, Nebraska, Utah and New Mexico.

Operations include 44 aggregates facilities, including 8hard rock quarries, supplying 28 million tons of aggregate a year.Kiewit Materials also produces 4.7 millioncubic yards of concrete a year in 60 plants, and 3.4 million tons of hot-mixasphalt in 16 asphalt plants.Aggregatereserves total over 800 million tons, with reserve life averaging over 30years.

Kiewit Materials Corporation President Chris Murphy hasbeen appointed President, Rinker Materials West Division.

The CSR Group is the world’s ninth largest heavy buildingmaterials group of companies, with sales revenue of Australian $7 billion,operating cash flow of Australian $1.4 billion and around 16,000 employees inover 600 sites across the U.S., Australia, New Zealand and Asia.