Stmt.re Redrow Regeneration

Redrow PLC
12 January 2006


Redrow Regeneration secures second major opportunity


On 11 January 2006, Redrow Regeneration plc, a wholly owned subsidiary of Redrow
plc, acquired the entire share capital of UC (Barking) Limited for a nominal
consideration.  The principal asset of the company is an agreement with the
London Borough of Barking and Dagenham for, under the initial phase, a
prestigious mixed use development of apartments together with the provision of a
Life Long Learning Centre at the Town Square, Barking, Essex.  Subject to
securing planning and other commercial considerations, later phases will provide
further residential accommodation together with mixed commercial uses.


The combined sales income of the total development is estimated to be
approximately £100 million over the project life of four years with the first
revenues anticipated to commence in the summer of 2007.


Paul Pedley, Chairman of Redrow Regeneration commented: 'We are extremely
pleased to secure this opportunity in Barking, which follows on the heels of
Watford Junction and marks the second major transaction concluded by Redrow's
Regeneration activities since its formation last year.'


Further information:


Neil Fitzsimmons, Chief Executive, Redrow plc                       01244 520044

Paul Pedley, Executive Deputy Chairman, Redrow plc                  01244 520044

David Arnold, Group Finance Director, Redrow plc                    01244 520044


                      This information is provided by RNS
            The company news service from the London Stock Exchange