Offer Wholly Unconditional

Persimmon PLC 17 January 2006 Not for release, publication or distribution, in whole or part, in, into or from the United States, Canada, Australia or Japan. FOR IMMEDIATE RELEASE 17 January 2006 RECOMMENDED CASH OFFER by CITIGROUP GLOBAL MARKETS LIMITED on behalf of PERSIMMON PLC ('PERSIMMON') for WESTBURY PLC ('WESTBURY') Offer declared unconditional in all respects 1. Offer unconditional in all respects Persimmon, having received valid acceptances of the Offer in respect of Westbury Shares representing more than 61 per cent. of Westbury's issued share capital, announces that the acceptance condition to the Offer has been satisfied. Further to the announcement on 6 January 2006 that Persimmon Shareholders have approved the Acquisition and the announcement on 23 December 2005 that the Office of Fair Trading has decided not to refer the Acquisition to the Competition Commission, all the conditions of the Offer have now been satisfied and/or waived. Accordingly, the Offer has been declared unconditional in all respects and will remain open for acceptance until further notice. 2. Detailed level of acceptances As at 3.00 p.m. (London time) on 16 January 2006, valid acceptances of the Offer had been received in respect of a total of 70,827,883 Westbury Shares, representing approximately 61.6 per cent. of Westbury's issued share capital. (Of these valid acceptances, valid elections for the Loan Note Alternative had been received in respect of a total of 1,960,647 Westbury Shares, representing approximately 1.7 per cent. of Westbury's issued share capital.) None of these acceptances were received from persons acting in concert with Persimmon. Accordingly, the Offer has been declared unconditional as to acceptances. On 24 November 2005, being the date of the announcement of the Offer, Persimmon announced that it had received irrevocable undertakings to accept (or procure the acceptance of) the Offer in respect of a total of 310,951 Westbury Shares, representing approximately 0.3 per cent. of Westbury's issued share capital. Valid acceptances have been received in respect of 295,156 of those Westbury Shares, representing approximately 0.3 per cent. of Westbury's issued share capital. All of these acceptances are included in the total of valid acceptances referred to above. As announced on 24 November 2005, Persimmon acquired 30,000,000 Westbury Shares thereby increasing its total holding of Westbury Shares to 30,000,001, representing approximately 26.1 per cent. of Westbury's issued share capital. Accordingly, as at 3.00 p.m. (London time) on 16 January 2006, Persimmon either owned or had received valid acceptances in respect of a total of 100,827,884 Westbury Shares representing approximately 87.7 per cent. of Westbury's issued share capital. 3. Consideration Settlement of the consideration due under the Offer will, on or before 30 January 2006, be dispatched by first class post (in the case of holders of certificated Westbury Shares or holders of uncertificated Westbury Shares who have elected to take up Loan Notes) to or credited to the relevant CREST accounts (in the case of holders of uncertificated Westbury Shares) of Westbury Shareholders who have validly accepted the Offer on or before 16 January 2006. Consideration due under the Offer will be dispatched (in the case of holders of certificated Westbury Shares or holders of uncertificated Westbury Shares who have elected to take up Loan Notes) to or credited to the relevant CREST accounts (in the case of holders of uncertificated Westbury Shares) of Westbury Shareholders who validly accept the Offer after 16 January 2006 within 14 days of receipt of an acceptance valid in all respects. 4. Delisting and Compulsory Acquisition Application will be made to the Financial Services Authority for the cancellation of the listing of the Westbury Shares on the Official List and to the London Stock Exchange for the cancellation of the admission to trading of Westbury Shares on the London Stock Exchange, with each expected to take effect from 14 February 2006, being 20 business days following the date of this announcement. In addition, if sufficient acceptances are received, Persimmon intends to implement the procedures set out in sections 428 to 430F (inclusive) of the Companies Act to acquire compulsorily any Westbury Shares to which the Offer relates. Westbury Shareholders who have not yet accepted the Offer and who hold Westbury Shares in certificated form are urged to complete, sign and return the Form of Acceptance to Computershare Investor Services PLC as soon as possible. Westbury Shareholders who have not yet accepted the Offer and who hold Westbury Shares in uncertificated form are urged to make acceptance electronically through CREST so that the TTE Instruction settles as soon as possible. Westbury Shareholders who hold Westbury Shares as a CREST sponsored member, should refer to their CREST sponsor as only their CREST sponsor will be able to send the necessary TTE Instruction to CRESTCo. Terms defined in the Offer Document shall have the same meanings in this announcement. The term 'acting in concert' shall have the same meaning as in the City Code. Persimmon PLC Tel: 01904 642 199 Mike Killoran, Group Finance Director Neil Francis, Group Company Secretary Citigroup Global Markets Limited Tel: 020 7986 4000 Philip Robert-Tissot Dimitrios Georgiou Nigel Mills (Corporate Broking) Andrew Forrester (Corporate Broking) Finsbury Group Tel: 020 7251 3801 Edward Orlebar Faeth Birch Citigroup Global Markets Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Persimmon and no one else in connection with the Offer and will not be responsible to any other person for providing the protections afforded to clients of Citigroup Global Markets Limited or for providing advice in relation to the Offer. This announcement does not constitute, or form part of, any offer for, or any solicitation of any offer for, securities. Any acceptance or other response to the Offer should be made only on the basis of information referred to in the Offer Document. The Offer is not being and will not be made, directly or indirectly, in or into, or by use of the mails of, or by any means or instrumentality (including, without limitation, facsimile or electronic transmission, telex, internet or telephone) of interstate or foreign commerce of, or any facility of a national, state or other securities exchange of, the United States, Canada, Australia or Japan and the Offer will not be capable of acceptance by any such use, means, instrumentality or facility from or within the United States, Canada, Australia or Japan. This information is provided by RNS The company news service from the London Stock Exchange

Companies

Persimmon (PSN)
UK 100

Latest directors dealings