Directorate Change

Crest Nicholson PLC
08 September 2005


                                                              8th September 2005


             Crest Nicholson plc ("Crest" or "the Company")


                        Directorate Changes

The Board of Crest Nicholson, the residential and mixed-use development company,
today announces that John Callcutt (58) is to retire as Chief Executive on 31st
October 2005, after 14 years in the post, and will become Deputy Chairman from
1st November 2005. Stephen Stone (51) who has been Chief Operating Officer of
the Company since 2003, has been appointed Chief Executive with effect from 1st
November 2005.

As Non-Executive Deputy Chairman John Callcutt will have a continuing role
within Crest in promoting the Group's leading position in the realisation of
large scale urban regeneration schemes.

Stephen Stone, who is a chartered architect, joined Crest in 1995 and was
appointed to the Board in 1999. Prior to joining Crest he was with Countryside
Properties plc from 1983 to 1995.

John Matthews, Chairman of Crest said,

"The Board is extremely grateful to John Callcutt for the extraordinary
contribution he has made during his 31 years with the Company and particularly
as its Chief Executive since 1991. We are delighted that he will have a
continuing role with our Group in helping us to develop our urban regeneration
strategy, an area in which he has become a leading authority.

"We are pleased to announce today the appointment of Stephen Stone as his
successor. As Chief Operating Officer he has taken a key role in driving through
the strategic changes the Group has undergone over the last few years. Stephen's
in-depth knowledge of both our business and the industry will be of great value
to us in our ongoing development."

John Callcutt, Chief Executive of Crest said,

"It has been an enormous privilege to lead Crest over the last 14 years and
particularly taking the Group to the forefront of urban regeneration. This would
not have been possible without the efforts of all those in the Company. I am
delighted that Stephen Stone will be my successor and wish him well as he takes
the Company into its next phase. I look forward to working with him in my new
role focussing on our urban regeneration business."

Enquiries to:

Crest Nicholson  John Matthews, Chairman  020 7404 5959 (on day of announcement)
                                          01932 847272  (thereafter)

Brunswick        Andrew Fenwick           020 7404 5959
                 Kate Miller



Notes to editors

John Callcutt

John Callcutt, a solicitor, joined Crest in 1974. He was appointed to the Board
in 1985 and became Chief Executive in 1991. John is currently also a director of
the Building Research Establishment (BRE) Trust, a Director of the Housing Forum
and Chairman of a Housing Forum Working Group preparing a report on "Customer
Driven Strategy for Housing Construction".


Stephen Stone

Stephen Stone, aged 51, joined Crest in 1995 as Managing Director of Crest's
Eastern region, which acquired and developed several of Crest's early concept
schemes, including Repton Park in Chigwell. He was appointed to the Board in
1999 with responsibility for five of Crest's regional housing businesses before
being appointed Chief Operating Officer in 2003. He is a chartered architect
with over 30 years experience in the construction and house building industry.
Prior to joining Crest Stephen worked with Countryside Properties from 1983 to
1995 where he was Managing Director of Countryside South Thames business from
1991, before which he was Development Director with responsibility for Land and
Project Management.





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