Offer Rejection

Crest Nicholson PLC
10 November 2006


10 November 2006                                                                             


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

                    Preliminary offer approach and rejection                    

The Board of Crest Nicholson announces that the Company has received an approach
from a third party at a price of 585 pence per share. The Board has rejected
this approach.

The third party, through its financial adviser, has notified the Board verbally
that it has recently acquired approximately 27 per cent. of the Company's issued
share capital including the stake of the largest shareholder. The Board is
seeking to verify this holding.

Enquiries:

Brunswick Group LLP Tel:                020 7404 5959

Andrew Fenwick/Kate Miller





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