AGM Statement

Redrow PLC
07 November 2006

ANNUAL GENERAL MEETING STATEMENT

Redrow plc is holding its Annual General Meeting today at 12 noon at St David's
Park Hotel, Ewloe, Flintshire.

At the meeting Robert Jones, Chairman will make the following statement to
Shareholders:-

'On 11 September in our preliminary results announcement, I reported that in
2006 we had experienced improved levels of consumer confidence which had
resulted in increased transaction levels in the housing market.  We now have a
cumulative sales position representing nearly 65% of our anticipated increased
legal completions for financial year 2006/07.

We expect that our performance in the six months to 31 December 2006 will
reflect growth in both legal completions and turnover in our Homes operations.
The proportion of full year legal completions, excluding Debut, anticipated for
delivery in the first half should be broadly in line with 2005/06.  We expect to
legally complete approximately double the number of Debut units as compared with
the same period last year. Our view on operating margins for Homes remains
unchanged.

The housing market in many parts of the country remains competitive and the
stronger conditions being experienced in certain areas, notably central London,
are not necessarily representative of the wider housing market.  In this
environment, our strategy is to protect margins by optimising selling prices on
selected sites where the trading conditions are more robust and to manage
incentives on other sites.  We continue to keep close control on build costs and
are maintaining our focus on increasing the use of our core house types whilst
promoting the importance of design to add value.

We are still experiencing good demand for Debut and secured an excellent
response to our first Debut site in the South East at Sittingbourne in Kent.
This leaves us well placed to deliver increased output for this product in the
full year in line with our expectations. In addition, two further Debut sites
are expected to be launched prior to the end of December 2006.

The planning system continues to frustrate the industry in its desire to
increase output but we are making good progress with a number of important
current land sites. Since the year end we have submitted a planning application
in respect of our forward land opportunity near Northampton for approximately
750 new homes. Other major forward land sites are also progressing positively
through the planning process notably at Taunton and Exeter.

Recent and heightened expectation of interest rate increases may have an
influence on homebuyer confidence and consequently on the strength of the
housing market as we move into 2007.   However, we remain of the view that 2006/
07 will be a year of growth for Redrow with a full year outcome in line with our
previous expectations. We are confident that Redrow has the capability to
continue to deliver value for its shareholders.'

In accordance with normal practice, Redrow plc will be issuing a trading update
on 11 January 2007.


Enquiries:

Redrow plc 01244 520044
Neil Fitzsimmons, Chief Executive
David Arnold, Group Finance Director

Brunswick Group LLP 020 7404 5959
Patrick Handley
Nina Coad
Jayne Rosefield


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