Compulsory Acqn of Shares

Redrow PLC
25 January 2002

Redrow PLC


25 January 2002


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO UNITED STATES, CANADA,
AUSTRALIA OR JAPAN


Redrow PLC

RECOMMEDED CASH OFFER FOR TAY HOMES PLC


COMPULSORY ACQUISITION OF OUTSTANDING TAY HOMES SHARES


Redrow announced on 9 January 2002, that its Offer had been declared
unconditional in all respects. As at 3.00 p.m. on 8 January 2002, Redrow had
received valid acceptances in respect of 25,859,501 Tay Homes Shares,
representing, in aggregate, approximately 95.2 per cent of Tay Homes current
issued share capital.


On 24 January 2002, Redrow issued notices to Tay Homes Shareholders who have not
yet accepted the Offer informing them that it intends to exercise its right
under sections 428 to 430F of the Companies Act to acquire compulsorily any
outstanding Tay Homes Shares at the expiry of the requisite notice period.


Redrow gave notice in the offer document dated 5 December 2001 (the 'Offer
Document') of its intention to procure the delisting of Tay Homes Shares, such
delisting to take effect as soon as appropriate after the Offer becomes or is
declared unconditional in all respects. Redrow now intends to procure the making
by Tay Homes of an application for the removal of the Tay Homes Shares from the
Official List of the UK Listing Authority and for the cancellation of trading in
Tay Homes Shares on the London Stock Exchange's market for listing securities.
It is anticipated that the cancellation of listing and trading will take effect
as soon as practicable after 21 February 2002.


The Offer remains open for acceptance until further notice.


Enquiries:


REDROW PLC Telephone: [phone]


Paul Pedley


Neil Fitzsimmons


CAZENOVE & CO LTD Telephone: [phone]


Nick Wiles


Piers Coombs


The definitions set out in the Offer Document have the same meanings in this
announcement unless the context requires otherwise.


The Offer was not made, directly or indirectly, in or into and may not be
accepted in or from the United States, Canada, Australia or Japan. Accordingly,
copies of this announcement are not being, and must not be, mailed or otherwise
distributed or sent in, into, or from the United States, Canada, Australia or
Japan.


If Loan Notes are issued pursuant to the Offer such Loan Notes have not been and
will not be registered under the United States Securities Act of 1933 (as
amended) nor under the securities laws of any state of the United States and may
not be offered, sold or delivered, directly or indirectly, in or into the United
States.


This announcement, which has been prepared by and is the sole responsibility of
Redrow, has been approved by Cazenove solely for the purposes of section 21
Financial Services and Markets Act 2000.


Cazenove, which is regulated in the United Kingdom by Financial Services
Authority, is acting for Redrow and no-one else in connection with the Offer and
will not be responsible to anyone other than Redrow for providing the
proctections afforded to customers of Cazenove nor for providing advice in
relation to the Offer or any matter referred to in the Offer Document.



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