Statement re disposal

Berkeley Group Holdings (The) PLC
14 June 2005



                   The Berkeley Group Holdings plc (Berkeley)

                         The Crosby Group plc (Crosby)

Berkeley has received approaches, including one from Lend Lease Corporation
Limited, regarding the possible disposal of Crosby, its subsidiary that operates
principally from Manchester, Leeds, Birmingham, Cardiff and Bristol. Discussions
are at the preliminary stage and may or may not lead to the sale of the
business. In August 2003 Berkeley announced a transaction involving Crosby ('the
Crosby Transaction'), which was designed to incentivise the Crosby executive
team and maximise Berkeley shareholder value through the generation of operating
cash flow. This continues to be successfully executed.

For further information please contact:

Cardew Group
Tim Robertson Tel: [phone]

Notes to editors:


Summary of the Crosby Transaction

Under the Crosby Transaction, entered into in August 2003, the Crosby Executive
Team subscribed for new B Shares in Crosby. Broadly, these shares are entitled
to 50.01% of the economic and voting rights of Crosby after the generation of
£450 million of operating cashflow. The B Shares carry dividend and voting
rights if Crosby makes agreed milestone payments to Berkeley every six months
and generates overall £450 million of operating cashflow within seven years. In
addition, economic and voting control will not pass unless the gross assets of
Crosby at the time control passes are less than £75m and the net assets are less
than £50m. Until this time, Berkeley will remain in control of Crosby and
therefore will continue to consolidate Crosby as a subsidiary. Thereafter,
Berkeley will retain 49.99% of the shareholding.




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