BRIEF-Eagle Materials, On May 1, Entered Into A Put Option Agreement With TLCC Partners, HM, HMSC

Reuters05-04

May 3 (Reuters) - Eagle Materials Inc :

* EAGLE MATERIALS INC: ON MAY 1, CO, TLCC PARTNERS, HM, HMSC ENTERED INTO A PUT OPTION AGREEMENT

* EAGLE MATERIALS INC: UNDER AGREEMENT, TLCC PARTNERS GRANTED PUT OPTION TO HMSC

* EAGLE MATERIALS: PUT OPTION ENTITLES HMSC TO REQUIRE TLCC PARTNERS TO PURCHASE ALL PARTNERSHIP INTERESTS HELD BY HMSC IN JV

* EAGLE MATERIALS: UNDER PUT OPTION,TLCC PARTNERS TO BUY ALL PARTNERSHIP INTERESTS OF HMSC IN JV FOR PAYMENT OF AMOUNT EQUAL TO 50% OF $1.10 BILLION

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