Acquisition

Savills PLC
10 September 2002



SAVILLS plc


10 September 2002


The Directors of Savills plc ('Savills') are pleased to announce the recruitment
of a team to provide property advisory and brokerage services in Italy through a
newly incorporated subsidiary, FPDSavills Italy Srl, to be operated from offices
in Milan and Rome.

Savills (Overseas holdings) Limited, a wholly-owned subsidiary, will retain a
majority shareholding in FPDSavills Italy Srl, with the management team taking
minority interests. Under normal circumstances, the minority shareholders will
have the option to sell their shares exclusively to Savills between two and 20
years from the date of acquisition of their shareholding (the 'Put Option'). On
the expiry of the Put Option, Savills will have the option to acquire the
minority shareholders' interests (the 'Call Option'). The consideration payable
for the Put and Call Options under normal circumstances will be based on
FPDSavills Italy Srl's average earnings over the three preceding financial
years.




Jeremy Helsby, Chairman of FPDSavills Commercial and head of European
operations, said: 'The recruitment of this team, together with the opening of an
office in Barcelona, will complement our existing European businesses and build
on the solid foundations of our French and German operations, where we are
already an established force.'






For further information contact:

Jeremy Helsby, Chairman FPDSavills Commercial Limited

020 7409 8934


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