AGM Statement

Crest Nicholson PLC
27 March 2003



                                                        Thursday 27th March 2003



                               CREST NICHOLSON PLC


                                  AGM STATEMENT


At today's Annual General Meeting, John Matthews, Chairman of Crest Nicholson
PLC, made the following statement:



"I can repeat much of what I said on 30th January 2003 when announcing our
Preliminary results.



"It is now evident that the exceptionally buoyant housing market of the last two
or three years which, if unchecked, would have been damaging both to the
industry and the house buyer, is returning to more normal conditions.



"Our reservations are good and purchaser interest, including visitor levels,
remains high.


"We have a valuable land bank and enviable reputation for the quality of our
product.   We are well placed to meet changes in the market and, therefore,
continue to believe that, provided there is no significant deterioration should
the war be prolonged, we are on course for another year of good progress."



                                    - Ends -



Enquiries:


Crest Nicholson       John Matthews, Chairman                Tel: [phone]
                      John Callcutt, Chief Executive
                      Clive Littler, Finance Director

Brunswick             Rebecca Blackwood/Kate Miller          Tel: [phone]






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