Acquisition

Wolseley PLC
29 January 2003

                                                                 29 January 2003


                                  NEWS RELEASE

                                  Wolseley plc

                    ACQUISITIONS COMPLETED DURING JANUARY 2003



Wolseley plc, the world's largest specialist trade distributor of plumbing,
heating and building material products, announces today the recent acquisition
of four distribution businesses in the USA and Canada for an aggregate
consideration of approximately £37.1 million in cash.



These acquisitions bring Wolseley's total acquisition spend, including debt
acquired, for the 6 months ending 31 January 2003, to approximately £56.6
million.  In total, the 11  acquisitions completed in the first 6 months of the
year are expected to add approximately £161.3 million to group turnover in a
full year.



Details of the businesses, none of which have previously been announced, are set
out below.



US Building Materials Distribution



Stock Building Supply has acquired Wenco Distributors of Texas ('Wenco') for an
approximate cash consideration, including debt, of $45.8 million (£28.1
million).  Wenco is a leading distributor of millwork, lumber and building
materials to professional contractors and operates from eight facilities
throughout Texas.  This acquisition continues Stock's strategy of increased
focus on value added activities which represent over 60% of Wenco's turnover.
Wenco's turnover in the year ended 31 December 2002 was $143.7million (£88.2
million).



North American Plumbing and Heating Distribution



Wolseley Canada has acquired Meridian Specialities Inc. ('Meridian') for a cash
consideration, including debt, of approximately C$14.4million (£5.8 million).
Meridian is a leading supplier of industrial valves to the Oil & Gas, Pulp Mills
and Mining sectors in Western Canada and had turnover of C$48.5 million (£19.6
million) in the year ended 28 February 2002.



Ferguson Enterprises has acquired Triangle Supply Company, Inc. ('Triangle') for
an approximate cash consideration, including debt, of $3.4 million (£2.1
million).  Triangle is a wholesale distributor of plumbing supplies, primarily
to professional contractors in the Dallas, Texas area.



In addition, Ferguson Enterprises has acquired certain assets of the Corona
California branch of York International Corp. ('York Corona') for an approximate
cash consideration, including debt, of $1.8million (£1.1 million).   York
International Corp ('YIC') is a major supplier of heating and air conditioning
equipment in the US and Ferguson is YIC's distributor in Southern California.



Together, Triangle and York Corona had a turnover of approximately $18.8 million
(£11.5 million) in the year ended 31 December 2002.





Charles Banks, Group Chief Executive of Wolseley said:



'I am delighted to announce these additions to the Group, which further
strengthen our North American plumbing and heating network and give us
additional capacity in the value added product range of our lumber distribution
business. Furthermore, they highlight our continued  strategy to expand through
a combination of organic growth and bolt on acquisitions.'





                                    - ends -





Note:  The following exchange rates have been used in this release:-

                                   £1 = $1.63

                                   £1 = C$2.48





ENQUIRIES:



Steve Webster - Group Finance Director
Wolseley plc
Telephone [phone]


Sophie Fitton  /  Nina Richmond
Brunswick Group
Telephone [phone]




                      This information is provided by RNS
            The company news service from the London Stock Exchange