Trading Statement

Redrow PLC
05 July 2007



5 JULY 2007


REDROW PLC


PRE-CLOSE TRADING UPDATE

Redrow plc is issuing the following pre-close trading update in advance of its
Preliminary Results announcement for the twelve months ended 30 June 2007, which
is scheduled to be released on Tuesday 11 September 2007.

The Group completed 4,823 new homes during the year, an increase of 2% on the
same period last year.  The average selling price for the year was approximately
£160,000 and operating margins are anticipated to be in line with our
expectations.  Our mixed use and regeneration activities recorded a number of
successes during the year and delivered a strong second half performance.
Overall, we expect our performance for the year to June 2007 to be in line with
our expectations.

The new homes market remained stable but competitive during the year albeit with
stronger conditions experienced in the South East of England and Scotland.  Our
sales levels have remained satisfactory in the second half with sales of our
core product up 3.5% on the same period last year.  Total Group forward sales at
June 2007 were up over 6% at 2,148 homes as compared with 2,018 homes at the
beginning of the financial year.

In the last 12 months our owned land bank with planning increased to over 17,700
plots as compared with 16,750 at June 2006 and our current land bank which also
includes land controlled under contract, totalled 20,700 plots and remained in
excess of 4 years supply on an historic basis.  During the year just over 25% of
our net additions to the owned land bank with planning were converted from our
forward land bank which at June 2007 amounted to 24,400 plots with realistic
prospects of securing planning.  Our balance sheet remains strong and with year
end gearing at c.31%, we retain the capacity to continue investing in our land
bank to grow our business in the future.

We welcome the Government's renewed focus upon the important role of
housebuilding to the UK economy though at a local level, the planning
environment continues to inhibit an increase in volumes.  We look forward to
engaging constructively with the Office of Fair Trading on its recently
announced market study.

We are on track to increase outlets during the new financial year to provide the
capacity to increase our volumes and we have successfully implemented our
planned steps to reduce costs and improve operating efficiency.  Notwithstanding
the recent interest rate rises our sales rates in the last quarter remained
satisfactory.  We will continue to monitor lead indicators closely to assess the
impact of interest rates upon the housing market as we move into the autumn.

The ongoing imbalance between supply and demand in the housing market continues
to make our industry attractive and Redrow has the land bank, product range and
skill base to capitalise on opportunities for shareholders.


Enquiries:



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



Patrick Handley/Nina Coad                                      Brunswick
                                                               020 7404 5959


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