Exhibit 11.01

MARTIN MARIETTA MATERIALS, INC. AND CONSOLIDATED SUBSIDIARIES

COMPUTATION OF EARNINGS PER SHARE

For the Three and Six Months Ended June 30, 2004 and 2003
(Dollars in Thousands, Except Per Share Data)

	Three Months Ended
	June 30
	2004		2003
Earnings from continuing operations	$	44,442	$	38,962
Earnings from discontinued operations		273		688
Net earnings	$	44,715	$	39,650
Weighted average number of common shares outstanding:
Basic		48,210,140		48,905,591
Effect of dilutive securities		360,504		205,455
Diluted		48,570,644		49,111,046
Net earnings per common share:
Basic from continuing operations	$	0.92	$	0.80
Discontinued operations		0.01		0.01
	$	0.93	$	0.81
Diluted from continuing operations	$	0.91	$	0.80
Discontinued operations		0.01		0.01
	$	0.92	$	0.81

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Exhibit 11.01

MARTIN MARIETTA MATERIALS, INC. AND CONSOLIDATED SUBSIDIARIES

COMPUTATION OF EARNINGS PER SHARE

For the Three and Six Months Ended June 30, 2004 and 2003
(Dollars in Thousands, Except Per Share Data)

	Six Months Ended June 30
	2004		2003
Earnings from continuing operations before the cumulative effect of change in accounting principle	$	37,868	$	25,998
Earnings from (loss on) discontinued operations		302		(366	)
Cumulative effect of change in accounting for asset retirement obligations		—		(6,874	)
Net earnings	$	38,170	$	18,758
Weighted average number of common shares outstanding:
Basic		48,271,457		48,898,334
Effect of dilutive securities		408,142		186,597
Diluted		48,679,599		49,084,931
Net earnings per common share:
Basic from continuing operations before cumulative effect of change in accounting principle	$	0.79	$	0.53
Discontinued operations		—		(0.01	)
Cumulative effect of change in accounting principle		—		(0.14	)
	$	0.79	$	0.38
Diluted from continuing operations before cumulative effect of change in accounting principle	$	0.78	$	0.53
Discontinued operations		—		(0.01	)
Cumulative effect of change in accounting principle		—		(0.14	)
	$	0.78	$	0.38

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