Result of Meeting

Crest Nicholson PLC
16 April 2007


Crest Nicholson PLC

For Immediate Release                                              16 April 2007

                             Recommended Proposals
                             for the acquisition of
                              Crest Nicholson PLC
                                       by
                              Castle Bidco Limited


Results of meetings

The Board of Crest Nicholson PLC ("Crest Nicholson") is pleased to announce that
the shareholder resolutions to approve the recommended acquisition of Crest
Nicholson by Castle Bidco Limited by means of a scheme of arrangement were duly
passed at the Court Meeting and the Extraordinary General Meeting held earlier
today.

At the Court Meeting, a majority in number of Crest Nicholson Shareholders
(other than holders of Excluded shares in respect of those Excluded Shares) who
voted either in person or by proxy and who together represented over 75% by
value of the votes cast voted in favour of the resolution to approve the Scheme.
The resolution was accordingly passed.

At the Extraordinary General Meeting, the special resolution to approve the
Scheme and provide for its implementation was also passed by the requisite
majority.

The voting rights conferred by the Crest Nicholson Shares held by Castle Bidco
were not exercised at the Court Meeting.

COURT MEETING The voting on the resolution to approve the Scheme was taken on a
poll and the results were as follows:

Number of Meeting Shareholders voting: For: 625 (92.6%) Against: 50 (7.4%)

Number of votes: For: 43,390,929 (99.4%) Against: 243,266 (0.6%)

EXTRAORDINARY GENERAL MEETING The voting on the Special Resolution giving affect
to the Scheme was taken on a poll and the results were as follows:

Number of Meeting Shareholders voting: For: 626 (93.0%) Against: 47 (7.0%)

Number of votes: For: 73,746,136 (99.9%) Against: 136,857 (0.1%)

Implementation of the Proposals remains subject to the High Court of Justice for
England and Wales sanctioning the Scheme and confirming the associated reduction
of Crest Nicholson's share capital at a Court hearing which is expected to take
place on 2 May 2007. Subject to the Scheme receiving the sanction and
confirmation of the Court on that date, the effective date of the Scheme is
expected to be 3 May 2007. It is also expected that if the Scheme becomes
effective on 3 May 2007, listing of the Crest Nicholson Shares will be cancelled
at or about 8.00am on 8 May 2007. The consideration due to shareholders is
expected to be sent no later than 14 days after the effective date.

Copies of the resolutions passed at the Crest Nicholson Court Meeting and EGM
will shortly be submitted to the Financial Services Authority ("FSA") and will
shortly be available for inspection by the public during normal business hours
on any weekday (except public holidays) at the FSA's Document Viewing Facility
which is situated at: Financial Services Authority, 25 The North Colonnade,
Canary Wharf, London E14 5HS (tel. [phone]).

Any capitalised term used but not defined in this announcement has the same
meaning as is given to it in the Scheme Circular.


Enquiries

Crest Nicholson                                                  01932 580 555

John Matthews, Chairman
Stephen Stone, Chief Executive

Dresdner Kleinwort (Financial and Rule 3 Adviser and Broker      020 7623 8000
to Crest Nicholson)                                                

Charles Batten
Michael Covington
Angus Kerr (Corporate Broking)

Brunswick (Public Relations Adviser to Crest Nicholson)          020 7404 5959

Andrew Fenwick
Kate Miller


Dresdner Kleinwort, which is authorised and regulated in the United Kingdom by
the Financial Services Authority, is acting for Crest Nicholson and no-one else
in relation to the Proposals and will not be responsible to anyone other than
Crest Nicholson for providing the protections afforded to customers of Dresdner
Kleinwort or for providing advice in relation to the Proposals or any other
matter referred to herein.



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