AGM Statement

Crest Nicholson PLC
07 April 2006
                                                     
                                                                  7th April 2006
                                                     

                      Annual General Meeting Announcement
                                                      

Crest Nicholson PLC, the residential and mixed use development company, today
holds its Annual General Meeting.

Commenting today, John Matthews, Chairman, said:-

"The current housing market is steady - we are seeing modest house price growth
in the South East while prices in the South West and Midlands are flat.
Reservation rates are better than in the comparative period last year.

In our view, the fundamentals of the housing market remain sound - supply
continues to be constrained and demand is supported by good employment levels
and low interest rates.

The quality of the contracted housing land bank underpins future performance and
our appointment as the lead developer for the £250m regeneration project at
Woolston Riverside in Southampton strengthens the agreed pipeline of urban
regeneration projects.

The current market and the medium term outlook make us optimistic that Crest
will continue to perform in line with our expectations."

 
Enquiries to:

Crest Nicholson PLC                           Brunswick Group LLP                 
Stephen Stone, Chief Executive Officer        Andrew Fenwick                      
Peter Darby, Finance Director                 Kate Miller                         
                                              Robert Gardener                     
Tel: [phone]                             Tel: [phone]                  
                                                     


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