AGM Statement

Redrow PLC
05 November 2003


ANNUAL GENERAL MEETING - 5 NOVEMBER 2003

At the Annual General Meeting held at 12 noon today the Chairman of Redrow plc,
Robert Jones, made the following statement to shareholders.

'I would like to start this meeting by recording the Board's sincere thanks to
Bob Williams, our longest serving non-executive Director who retires today after
almost nine years on the Board of Redrow plc.  During this time, Redrow has
benefited greatly from his experience, including latterly as Chairman of the
Audit Committee (this role will now be taken on by Jim Martin).  In addition to
Bob's contribution at Group level, he has added significant value as a
non-executive Director of Redrow Commercial.

Looking back over the last nine years, the Group has grown significantly.  In
the financial year ended June 1995, Redrow reported pre-tax profits of £30.1m
and secured 2,258 legal completions.  In the last financial year, Redrow's
Profit before Tax exceeded £100m for the first time in its history, at £106.1m,
and the Group achieved over 4,000 legal completions.

Redrow entered this financial year in a stronger position than ever.  As at the
end of June 2003, forward sales stood at a record £304m and the Group has now
secured sales for over 70% of the anticipated legal completions for the current
financial year.  The housing market remains robust, being supported by the
continuing imbalance between supply and demand.  Our broad portfolio of homes
continues to attract significant customer interest with increases in selling
prices being achieved across the country.  In looking to the longer term, it is
important that the UK economy is broadly based and not overly reliant on the
consumer and excessive levels of personal debt.  As part of achieving this
objective a modest increase in borrowing rates over the short to medium term
should be viewed positively in the interests of sustainable economic growth upon
which a healthy housing market ultimately depends.

As regards land, the key to the Group's future profitability, Redrow owns, with
planning, all the land it requires for its anticipated legal completions in the
current financial year and indeed either owns or controls all of the land
required for the anticipated level of completions in the financial year ended
June 2005.  Therefore, Redrow is in a strong position to deliver future growth.

Looking forward, Redrow has a record sales position, a highly effective land
bank and a strong management team.  As a result, the Group is well placed to
deliver sustainable and profitable growth and by so doing deliver value to you,
our Shareholders.'


Enquiries:


Paul Pedley, Chief Executive                          Redrow plc
David Arnold, Group Finance Director                  01244 520044


Patrick Handley/Nina Richmond                         Brunswick
                                                      0207 404 5959

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