ST. LAWRENCE CEMENT GROUP INC.
TSX : ST.A

ST. LAWRENCE CEMENT GROUP INC.

July 16, 2007 18:48 ET

St. Lawrence Cement's Board Unanimously Recommends Acceptance of Holcim Group's Increased Offer of CAD$43.50 for Minority Shares

MONTREAL, QUEBEC--(Marketwire - July 16, 2007) - NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, JAPAN AND THE EUROPEAN ECONOMIC AREA

On July 13, 2007, Holcim Group ("Holcim") announced that it was increasing its offers to the minority shareholders of St. Lawrence Cement Group Inc. ("SLC") to CAD $43.50 in cash for all outstanding class A subordinate voting shares that Holcim does not already own and CAD $43.50 in cash for all outstanding class 1 special shares. The total value of the revised offers is approximately CAD $681 million. In connection with the increase in the offer price, the offers have been extended to 5:00 pm (Montreal time) on July 30, 2007.

The revised offer represents a 44% premium over the volume weighted average trading price of the class A subordinate voting shares on the Toronto Stock Exchange for the 20 trading days ended February 23, 2007, the last trading date prior to Holcim's announcement of its proposed offer.

The independent valuator retained by the Special Committee has confirmed its opinion that the consideration to be provided under the revised offers is fair from a financial point of view to SLC's minority shareholders. Based on the recommendation of its Special Committee and with the directors who are also directors or officers of Holcim or its affiliates abstaining, the Board of Directors of SLC has unanimously resolved to recommend that shareholders ACCEPT the increased offers. The Board of Directors of SLC will mail to its shareholders in due course a notice of change updating the Directors' Circular issued in respect of the Holcim offers.

The Offers, Take-over Bid Circular, Directors' Circular and related documents have been filed in Canada on SEDAR at www.sedar.com.

St. Lawrence Cement Group is a leading producer and supplier of products and services for the construction industry, namely cement, concrete, aggregates and construction. The company operates in Canada and on the eastern seaboard of the United States, and employs a total of 3,300 people.

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