Acquisition

Savills PLC
01 October 2004



FOR IMMEDIATE RELEASE
Friday 1 October 2004



ACQUISTION OF SMITH-WOOLLEY


Savills plc announce today that its wholly owned subsidiary FPDSavills Limited
has acquired Smith-Woolley, Chartered Surveyors. The deal follows the
acquisition of Smith-Woolley's rural asset management business in Norfolk in
June last year.


Founded in 1777, Smith-Woolley is one of the oldest and most respected land
management practices in the UK with both consultant and resident land agents in
place on some of the country's finest rural estates. The offices being acquired
by FPDSavills are: Oxford, Woodstock, Bath and Newark (Collingham), and include
staff and departments specialising in commercial and residential agency, as well
as farm management, planning, building consulting and facilities management.
The business was acquired for a total consideration of £2.375m of which £750k is
by way of deferred payment.



Paul Lindon, Senior Partner of Smith-Woolley, based at Woodstock, Oxfordshire
said:  'Smith-Woolley has expanded in recent years and I am delighted by this
further step forward.  While preserving our distinct approach with clients and
our philosophy of providing management excellence tailored to our clients needs,
the link into FPDSavills will provide increased opportunities for our clients
and allow access to a range of services that only one of the big firms can
deliver. We have considered this very carefully and have decided to amalgamate
with FPDSavills as they are the best in their class.'



Rupert Sebag-Montefiore, Managing Director of FPDSavills and Savills plc
Director commented:  'This is an important move forward that reflects
FPDSavills' very strong commitment to expansion in property services in the UK.
The transaction with Smith-Woolley gives greater depth to our land management
business as well as the scope to provide clients with a range of well developed
support services through FPDSavills' network of professionals in over 50 offices
in the UK.



'Importantly, this is a very significant expansion of our Oxford business, with
some 52 staff joining our 80-strong office there. When combined with our local
offices the acquisition will also deliver the strongest multi-practice firm in
Nottinghamshire and Lincolnshire'.



FOR FURTHER INFORMATION PLEASE CONTACT:
Rupert Sebag-Montefiore, Managing Director FPDSavills: 020-7034-4725
Paul Lindon, Senior Partner, Smith-Woolley: 01865-792624

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John Vaughan, FPDSavills Press Office: 020-7034-4725





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