Martin Marietta Materials, Inc. Acquires Quarries In Iowa

Business Wire, May 21, 1997

RALEIGH, N.C.--(BUSINESS WIRE)--May 21, 1997--Martin Marietta Materials, Inc. (NYSE:MLM) today announced that it has purchased Nuckolls Aggregates, Inc., in a cash transaction. Nuckolls Aggregates operates a limestone quarry and six sand and gravel locations in North Central Iowa. Annual capacity exceeds 1.2 million tons. The purchase price was not disclosed.

Commenting on the acquisition, Stephen P. Zelnak, Jr., Chairman and Chief Executive Officer of Martin Marietta Materials, stated, "The acquisition of Nuckolls Aggregates will enhance our business in Iowa by extending our presence in the north central part of the state. The acquired locations are a good strategic fit with our existing operations."

Martin Marietta Materials is the nation's second largest producer of construction aggregates and a leading producer of magnesia-based chemical and refractory products used in a wide variety of industries.

Investors are cautioned that statements in this press release which relate to the future are, by their nature, uncertain and dependent upon numerous contingencies - including political, economic, regulatory, climactic, competitive, and technological - any of which could cause actual results and events to differ materially from those indicated in such forward-looking statements. Additional information regarding these and other risk factors and uncertainties may be found in the Corporation's filings with the Securities and Exchange Commission.

CONTACT: Martin Marietta Materials Inc., Raleigh

Janice K. Henry, 919/783-4658