Trading Statement

Savills PLC
20 December 2001


For immediate release                                          20 December 2001

                                 SAVILLS PLC

                         ('Savills' or 'the Company')


                           Full Year Trading Update


In accordance with the policy adopted at the half-year we are issuing a
trading update for the twelve month period to 31 December 2001, prior to the
announcement of the preliminary results scheduled for 7 March 2002.


Overview


When we released our results for the six months ended 30 June 2001 on 
5 September 2001 the Chairman reported that the Group was continuing to trade
strongly despite more difficult market conditions. Since then there has been a
definite slowing in activity and the events of 11 September have resulted in
caution throughout all our markets. However, there is growing evidence of
greater confidence across the board as the expectation of a severe economic
downturn recedes.


Main Business Streams


Transactional

Transactional activity slowed significantly in October but there are signs
that markets are stabilising. The UK Commercial Investment market is still
active and decreasing interest rates make property an ever more attractive
asset class. The leasing market continues to be hit by the problems of
occupiers cancelling or reducing their space requirements. This is
particularly severe in the Asian market, which is very exposed to the
requirements of US based multi-nationals.


Residential markets have seen a price adjustment and in particular in London
asking prices have dropped by between 10 and 15%, although year on year prices
still show an overall increase. The lull after 11 September has been followed
by greater activity in the last quarter of the year and markets in the
Midlands and the North have been strong.


Consulting

The consulting business is far less affected by short term movements in market
confidence and continues to perform well.


Property Management

The Property Management business continues to perform in line with
expectations. The Asian business in particular is ahead of budget and has
produced excellent results in difficult market conditions. In the UK the
results were affected by major re-organisation which should produce improved
returns next year. Significant new contracts have been won in the last two
months.


Facilities Management

The Hong Kong based facilities management business is performing well and in
line with targets.


Our associate company, Trammell Crow Savills, is involved in bidding for a
major new contract, the outcome of which will not be known until 2002. The
pursuit costs of this are signficant and have impacted on the results for the
year.


Property Trading

Following some major new lettings and changes in tenancies, The Mill Discount
Department Store, Batley is trading markedly better than earlier on this year.
However, results have been affected by the costs of reconfiguring the scheme.


Financial Services

Savills Private Finance, which focuses on residential mortgages, has had an
excellent year and is performing strongly ahead of plans.


Overall


The overall slowing in the market means that the second half results are
unlikely to significantly exceed the first half results. We expect that the
reported full year results will be in line with market expectations.

                                     Ends

For further information:

Savills plc                                                       020 7409 9923

Aubrey Adams, CEO


Grandfield                                                        020 7417 4170

Harry Hunt                                                        07788 426 223

Simon Buerk                                                       07775 598 827