AGM Statement

Redrow PLC
09 November 2005



ANNUAL GENERAL MEETING - 9 NOVEMBER 2005


At the Annual General Meeting of Redrow plc commencing today at 12 noon, the
Chairman, Robert Jones will be making the following statement:


'As anticipated, the autumn sales market has reflected a normal seasonal upturn
following the weaker trading months of July and August.  The market has remained
competitive with incentives continuing to be widely promoted within the industry
and Redrow has maintained its focus on the protection of margin to maximise the
value derived from its land bank.  Redrow's strong forward sales position at
June 2005 has been supported by our sales performance in the new financial year
with both reservations and sales outlets approximately 10% higher than in the
same period last year.


The Group's strong land bank has provided the platform to increase sales outlets
and this should enable us to increase the number of legal completions from the
Signature range in the first half of the financial year over the corresponding
period.  As regards In the City schemes, whilst due to the timing of
construction there will be a weighting of legal completions towards the second
half, the Group has already sold over 90% of its anticipated legal completions
for the year to June 2006.  As previously indicated, legal completions from In
the City will be lower in number than in the last financial year and the average
selling price will also be below last year reflecting geographical mix.


The influence of In the City developments, together with the increased
proportion of legal completions from Debut, will cause the Group's average
selling price in the six months to December 2005 to be marginally below the
second half of last financial year.  This, combined with our previously
expressed view that margins will ease during the course of this financial year,
will lead to the profitability for the six months to December 2005 being below
the level in the corresponding period last year with the Group's profits in the
year to June 2006 being more weighted towards the second half.


The highly successful launch of Debut at Rugby has been followed by the sales
release of our second scheme at Buckshaw Village, Chorley in September.  Demand
was equally strong and we now look forward to the December launch of our third
scheme at Castle Vale, Birmingham which has already attracted substantial
interest.


Redrow was positioned to manage the period of adjustment to a normal housing
market by building a strong forward sales position and increasing the number of
sales outlets.  We have sold over 60% of the current financial year's
anticipated legal completions and continue to expect to increase our outlets to
over 120 in the spring of 2006.  Although recent statistics from the housing
market in respect of mortgage approvals have been encouraging, consumer
confidence will still be a key factor in determining the strength of the housing
market in 2006 which will, as a matter of course, influence the full year
outturn.  In the medium term, we have opportunities to deliver organic growth
through our regional structure, mixed use and regeneration skills, the
incremental benefits of Debut and by continuing to build relationships with
major landowners.  With our high quality land bank, effective product range and
strong management team, Redrow has the capability to deliver further success for
you our Shareholders.'


Redrow plc will be issuing a trading update on the Group's performance for the
six months ended 31 December 2005 on Thursday 5 January 2006.  In addition, an
announcement will be made regarding the implementation of International
Financial Reporting Standards on 30 November 2005.


Enquiries:


Neil Fitzsimmons, Chief Executive                    Redrow plc

David Arnold, Group Finance Director                 01244 520044


Patrick Handley/Nina Coad                            Brunswick

                                                     020 7404 5959


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