Trading Statement

Savills PLC
01 July 2003


                                  SAVILLS plc

                          ('Savills' or the 'Company')


For Immediate Release                                            1 July 2003


                                 Trading Update


Savills, the international property consultants, is pleased to announce a
trading update for the half-year, prior to the interim results for the first
half of 2003, which are scheduled for release on 3 September 2003.

Overview

At the time of our Annual General Meeting the Chairman reported that trading
conditions were difficult in the first four months of 2003 and had been
unusually influenced by external events such as the war in Iraq and uncertainty
in financial markets.  The current position is set out below.

Main Business Streams:

Transactional

The property investment market throughout the UK, while facing tougher trading
conditions than last year, remains strong with significant demand for property
from private and institutional as well as overseas buyers.  In particular, the
retail warehouse investment market has remained buoyant.  This increased demand
has reflected in part investors' lack of confidence in the stock markets.

The European investment market continues to be very active and Savills is
benefiting from its strong position in that market.  In Asia with the SARS
outbreak now behind us, we are beginning to see more activity in the Commercial
Leasing and Investment markets, particularly in China where we have a major
presence.  The Australian Commercial Investment market, where we are the market
leader, remains strong.

Tenant demand in London and the South East is being adversely affected by the
downturn in commercial lettings markets.  However regional markets outside
London and the South East have seen a stronger demand for accommodation.

Residential markets in London have experienced a considerable slow down in
activity with some price reductions, while regional residential markets have
remained more resilient.  The new homes market has also slowed in comparison to
the high levels of activity last year, although we have seen a marked increase
in the volume of block sales transactions to both UK and overseas investors.

Consultancy

Our Consultancy business, which is less affected by short-term movements in
market confidence, continues to perform well.  We continue to develop,
particularly the Valuation, Planning and Building Consultancy divisions.

Property Management

The UK commercial Property Management business continues to secure new
instructions, in particular benefiting from growth in the Scottish and London
Property Management teams.  This, together with an expanding operation in
Europe, should ensure marked growth in management income.  The Hong Kong
operation has built its market share in asset management business, successfully
combining property management and tenancy management capabilities.  New
instructions continue to be secured.

Facilities Management

Our Facilities Management business in Hong Kong has experienced some
difficulties as a result of SARS but has remained competitive with an extremely
high level of contracts renewed and continues to perform well.  We are actively
pursuing and securing new contracts in new business areas.

Our joint venture with Trammell Crow Company, Trammell Crow Savills (TCS),
despite a disappointing start to 2003, has focused its efforts on growing the
services currently provided to existing corporate clients and on winning new
blue chip corporate business.  We continue to review with Trammell Crow Company
the future strategy for TCS.

Property Trading

The Group's principal trading arm has achieved a number of successes within the
portfolio including notable lettings at the Caledonian Retail Park and the
acquisition of a retail warehouse in Northwich.

We have successfully concluded the sale of The Mill Discount Department Store,
Yorkshire, for a cash consideration of £9.5m representing the current net book
value.  The Company will receive a payment of £8.5m immediately with three
further unconditional staged payments, the last of which is payable by no later
than close of business on 1 December 2005.

Financial Services

Our private client financial services business continues to perform strongly
ahead of plan.

Asia Management Changes

David Wong, Chief Executive, FPDSavills Asia Pacific Ltd, has decided to retire
from the Company at the end of 2003.  He is resigning from the Savills plc Board
forthwith and will be relinquishing his day to day management responsibilities
as of 31 July 2003.  The heads of the main Asian divisions will report directly
to the UK through the existing local executive committee, to be chaired by
Robert McKellar, Savills plc Group Finance Director.  Aubrey Adams continues to
chair the Asia Pacific Board and Jeremy Helsby has particular responsibility for
co-ordinating the Asian and European businesses.

David has successfully managed the FPDSavills Asia business through a difficult
period, involving substantial reorganisation.  He leaves the business in
excellent shape having dedicated eight years to the Company; we are very
grateful to him for all his efforts and wish him well in his retirement.


Share Re-purchase Programme

Effective today, the Company has commenced an irrevocable, non-discretionary
programme to re-purchase its own shares during the close period, which commences
at the start of business today 1 July 2003, in accordance with Chapter 15 of the
Listing Rules and Savills plc's general authority to repurchase shares.  Up to
500,000 shares may be purchased at a price of up to 180p until 2 September 2003.

Outlook

Whilst economic conditions continue to be challenging, the commercial investment
markets remain strong, with continuing demand from investors for property in
most major markets.  Residential markets are slow with reduced volumes of
transactions, particularly in London.  We remain cautiously confident that owing
to the quality, flexibility and broad base of our global businesses we are well
placed to meet the challenges of more difficult trading conditions; this,
combined with our focus on profitability and strong cash flows, gives us
confidence that we can achieve a satisfactory performance for the full year.


ENDS


For further information, please contact:

Savills

Aubrey Adams                                             020 7409 9923

Grandfield

Marc Popiolek / Gareth Penn                              020 7417 4170








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