FRANKFURT (Standard&Poor's) May 28, 2003--Standard&Poor's Ratings Services said today the ratings and outlook on HeidelbergCement AG (BB+/Negative/B) will not be affected by the company's announcement of a projected capital increase (with subscription rights for shareholders) of €400 million, or by the forthcoming refinancing of two outstanding syndicated loans of €700 million and $700 million. The company's envisaged bond issue will also not affect the ratings. These announcements are consistent with Standard&Poor's expectations that the group will successfully complete required refinancing in 2003. ANALYST E-MAIL ADDRESSES xavier_buffoon@standardandpoors.com eve_greb@standardandpoors.com lars_bjorklund@standrdandpoors.com CorporateFinanceEurope@standardandpoors.com
