Investor Presentation

BB&T Capital Markets

Manufacturing and Materials Conference

April 2, 2009

Exhibit 99.1

Forward Looking Statement

This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities

Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the context of the

statement

and

generally

arise

when

the

Company

discussing

its

beliefs,

estimates

expectations.

These

statements

are

not

historical

facts

guarantees of future performance but instead represent only the Company’s beliefs at the time the statements were made regarding future events which

are subject to significant risks, uncertainties and other factors many of which are outside the Company’s control. Actual results and outcomes may differ

materially from what is expressed or forecast in such forward-looking statements. The principal risks and uncertainties that may affect the Company’s

actual performance include the following: the cyclical and seasonal nature of the Company’s business; public infrastructure expenditures; adverse

weather conditions; restrictive covenants contained in our debt agreements; availability of raw materials; changes in energy costs including, without

limitation, increases in natural gas and oil; changes in the cost and availability of transportation; unexpected operational difficulties, equipment failures

and catastrophic events; inability to timely execute announced capacity expansions; governmental regulation and changes in governmental and public

policy (including climate change regulation); changes in economic conditions specific to any one or more of the Company’s markets; competition;

announced increases in capacity in the gypsum wallboard and cement industries; changes in demand for residential housing construction or commercial

construction; environmental liabilities; general economic conditions (including the possibility of the deepening of the current economic recession); and

interest rates. For example, increases in interest rates, decreases in demand for construction materials or increases in the cost of energy (including

natural gas and oil) could affect the revenues and operating earnings of our operations. In addition, changes in national and regional economic

conditions and levels of infrastructure and construction spending could also adversely affect the Company’s results of operations. These and other

factors are described in the Annual Report on Form 10-K for the Company for the fiscal year ended March 31, 2008 and in its quarterly report on Form

10-Q for the fiscal quarter ended December 31, 2008. These reports

are filed with the Securities and Exchange Commission and may be obtained free

of charge through the website maintained by the SEC at www.sec.gov. All forward-looking statements made in this presentation are made as of the date

hereof, and the risk that actual results will differ materially from expectations expressed in this presentation will increase with the passage of time. The

Company undertakes no duty to update any forward-looking statement to reflect future events or changes in the Company’s expectations.

Current Business Environment

Industry Outlook

Eagle at a Glance

New residential construction remains at low levels

Non-residential construction’s near term outlook is weak

Public construction varies from state to state

Eagle Materials’

Response

Intense focus on quality and customer service

Minimize capital spending but maintain plants in like new condition

Reduce/Eliminate low margin purchased cement sales

Minimize waste and delay at our wallboard plants

Minimize outside contract maintenance and overtime

Find and implement lower cost energy and raw materials sources

Improve financial flexibility by purchasing fixed-rate senior notes and replacing with variable-

rate revolving credit facility

Current Business Environment

Current Business Environment

Industry Outlook

Eagle at a Glance

U.S. Cement Industry Update

Current Supply/Demand Dynamics

Demand anticipated to decline approximately 15% in calendar

2009

Due to the decline in demand, several plant closures have been

announced

Announced delays of expansion projects

Imports of foreign cement have been dramatically reduced

Landed cost of imported cement has been dramatically reduced

Cost of imported cement (through September 2008)

Source: Portland Cement Association; Company estimates

Asian Financial Crisis

Current landed price –

Mid-$50’s/ton

Source: PCA Data and Company estimates

U.S. Cement Industry –

Consumption

30%

imports

Public Construction

Spending –

Value Put in Place

Source: Portland Cement Association (Projection from Fall 2008).

Architectural Billings Index (ABI) (January 2009)

Commercial/Industrial

Institutional

Mixed Use

Source: American Institute of Architects

As a leading economic indicator of construction activity, the ABI

reflects the approximate nine to twelve month lag between

architectural billings and construction spending. Any score above 50

indicates an increase in billings.

Private Non-Residential

Construction Spending –

Value Put in Place

$50

$100

$150

$200

$250

$300

$350

Source: U.S. Bureau of the Census; PCA (Projection from Fall 2008)

-23%

Wind Farms

Wind Farms

Our Cement Operations

Eagle Operations Overview

Approximately 3.1 million tons of capacity

3.1% market share (12th in North America)

Low cost producer

Exceptional quality and customer service

Cement Plants

Cement Terminals

Markets Served

Wallboard Industry Update

Wallboard demand was approximately 25 billion square feet (BSF) in calendar

2008 (down 31% from the 2005 peak)

We expect demand to decline approximately 25% in calendar 2009

New plant capacity increases are operational

All new plants were built in the East

Older, high-cost plants are closing

Wallboard production capacity still significantly greater than wallboard demand

causing very low industry capacity utilization

Industry

capacity

utilization

longer

proxy

for

pricing

–

too

low

Wallboard margins were the lowest in the industry’s 100-year history last

summer

Pricing has since rebounded approximately 20%

New Residential Construction

Near Term Outlook

Extreme low pace of new home construction

Overhang of existing homes and foreclosures continues to put downward pressure

on pricing and new housing starts. New housing starts at 40 year low.

Access to 30-year fixed-rate traditional mortgages remains limited; however,

interest rates are at historical lows

Unemployment on the rise

Additional foreclosures still loom as a risk to add to inventory

•

ARM resets

Home prices continue to decline in bubble markets

•

Very depressed in outlying metropolitan bubble markets

Bottom Line

–

New

residential

construction

remains

low

levels

However, demand drivers are mixed bag of positives and negatives

U.S Single

Family

Housing

Starts

–

1972-2008

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2,200

Source: U.S Bureau of the Census; Eagle estimates

Wallboard

consumption

type

construction:

-Single Family –

approx. 10,000 sf

-Multi Family –

approx. 4,000 sf

Home Supply –

1972 –

2009 (January)

Source: U.S Bureau of the Census

Home Ownership Rates –

1972 –

2008

Source: U.S. Bureau of the Census

Total occupied homes

111.8 million

Owner occupied

75.5 million

Renter occupied

36.3 million

Ratio of Median Existing Single Family Home Price

to Median Income –

1975-2008

Source: National Association of Realtors

Ratio at

the

end

2008

2.9

30 Year Mortgage Rates –

1977 –

2009 (January)

Source: Freddie Mac

Unemployment Rate –

1977 –

2009 (February)

Source: Department of Labor

Current Month

New Home

OR Existing Home?

U.S. Demand for Gypsum Wallboard (BSF)

Source: Gypsum Association; Eagle estimates

Wallboard Utilization Outlook

(numbers in billion square feet)

2006

2007

2008

2009E

Consumption Estimates:

New Residential –

Single Family

15.0

10.8

6.6

4.4

New Residential –

Multi-Family

1.4

1.2

1.0

New Commercial

7.6

7.2

7.0

4.9

Repair & Remodel

10.6

10.5

9.7

7.9

Mfd Housing

0.4

0.3

Total

35.0

30.2

24.8

18.5

Ending annual capacity

37.2

37.9

36.8

Average annual industry utilization

94%

80%

67%

50%

Estimated Capacity

Wallboard Industry Capacity Expansions/Closures

INDUSTRY CAPACITY ADDITIONS

CAPACITY CLOSURES

EAGLE PLANTS

Capacity Summary

(in BSF)

1/1/07

37.9

Additions

5.7

Closures

(6.8)

Current

36.8

Eagle’s Wallboard Operations

American Gypsum Operations Overview

18-year history

Nearly 4.0 billion square feet of capacity

11% market share (5th in U.S.)

Lowest cost producer

Exceptional customer service

Premium quality

Wallboard Plants

Reload/Distribution Yards

Core Markets Served

Gypsum Paperboard Industry Update

Nearly 100% vertically integrated

One notable exception –

CertainTeed –

•

40% of Republic Paperboard’s capacity supplies 65% of

CertainTeed’s U.S. paper needs at full utilization

Wallboard industry’s paperboard capacity is mostly high cost cylinder

machines that produce high basis weight gypsum facing paper

OCC costs are down but starting to trend up slightly

Energy costs are trending down

Eagle’s Gypsum Paperboard Overview

Original design capacity of 220,000 tons has been

increased to 320,000 tons

Republic produces light-weight gypsum paperboard

15% lighter than gypsum industry average

Superior wallboard conversion characteristics

Produces uniform cross-directional strength, weight

and moisture profile

50% of capacity consumed internally, 40% sold through

long-term sales contract with CertainTeed, 10% sold in

spot linerboard market, at full utilization

Eagle’s Operations Overview

Strong competitive position in

local markets

Capacity

•

Aggregates

–

5.5

million

tons

•

Concrete

–

850,000

cubic

yards

Complimentary to Eagle’s Cement

business

Organic growth opportunities

Vast aggregates reserves of over

1 billion tons in Northern California

Exceptional quality and customer service

Our Concrete and Aggregates Operations

Current Business Environment

Industry Outlook

Eagle at a Glance

New residential construction continues to weaken

Non-residential construction’s near term outlook is weak

Public construction varies from state to state

Eagle Materials’

Response

Intense focus on quality and customer service

Minimize capital spending but maintain plants in like new condition

Reduce/Eliminate low margin purchased cement sales

Minimize waste and delay at our wallboard plants

Minimize outside contract maintenance and overtime

Find and implement lower cost energy and raw materials sources

Improve financial flexibility by purchasing fixed-rate senior notes and replacing with variable-

rate revolving credit facility

Current Business Environment

Construction Demand Drivers

•

Public Infrastructure

•

New Residential Construction

•

New Non-Residential Construction

•

Repair and Remodel Construction

American Gypsum’s

Wallboard

Eagle’s

Cement

Single Family

Residential,

24%

Multi Family

Residential,

New Non-

Residential,

26%

Repair and

Remodel, 43%

Other, 2%

Our Cement Production and Cost

* -

Includes effect of downtime for Illinois Cement start-up

Energy costs up 50%

Since FY04

Total Manufactured Tons Produced (L)

Manufactured Cost per Equivalent Ton (R)

American Gypsum’s Wallboard Production and

Cost

* Before SG&A

** Includes effect from start-up of new plant in Georgetown, South Carolina

Financial Highlights

($ in millions)

For Fiscal Year Ending March 31

* Before Corporate G&A

Revenues

Operating Earnings *

We Continue to Outperform the Group *

EBIT Margins (TTM

12/31/08)

•

Based on comparison of EBIT Margins (TTM) for each of the listed

companies

(1)

TTM as of 11/30/08

Mean: 9%

Why Eagle Materials likes its position in bad times

and in good times

Premium quality products

Exceptional customer service

Strong long-term customer relationships

Low overhead

Extremely efficient modern, low-cost manufacturing plants

Smart, hard working, technologically proficient employees

Solid balance sheet

Strong cash flow from low-cost operations during difficult times

Eagle Materials Inc.

Question

Answer

BB&T Capital Markets

Manufacturing and Materials Conference

April 2, 2009

Contact Information

Steve Rowley, President and CEO

Telephone: 214-432-2020

Email: srowley@eaglematerials.com

Mark Dendle, Executive Vice President and CFO

Telephone: 214-432-2011

Email: mdendle@eaglematerials.com

Craig Kesler, Vice President -

Investor Relations and Corporate Development

Telephone: 214-432-2013

Email: ckesler@eaglematerials.com

Eagle Materials Inc. NYSE: EXP

www.eaglematerials.com