AGM Statement

Taylor Woodrow PLC
29 May 2002

                                                Embargoed: 07:00 hrs 29 May 2002



                               TAYLOR WOODROW plc

                                 AGM STATEMENT





At the Annual General Meeting of Taylor Woodrow plc today (May 29, 2002),
Chairman Dr Robert Hawley will tell shareholders that 2001 was another record
year for the company. He will say that 'the acquisition of Bryant Group
transformed the profit profile and operating structure of Taylor Woodrow. It
doubled our market capitalisation to £1.2 billion and last year our turnover
exceeded £2 billion for the first time'.



Chief Executive Iain Napier will make the following comments on current trading:



'The 2002 outlook for Taylor Woodrow remains positive. Since announcing our
preliminary results for 2001 in March, we have experienced strong demand across
all our major markets.



'Our UK housing business is performing well across all regions with average
selling prices rising in line with industry levels. On a like for like basis,
net reservations per site are well ahead on the same period last year.  The
business has however been operating from 15 per cent fewer sites in the first
quarter compared to last year, although this profile will reverse in the second
half of 2002.



'In the UK, demand for new housing continues to outstrip industry supply by
around 50,000 homes each year.  Constraint on supply relative to demand is
clearly a factor behind the continued strength of house prices across the
country. In terms of disposable income, housing also remains relatively
affordable compared to long term trends.



'In North America, we are also enjoying strong demand in each of our chosen key
markets of Florida, California and Toronto and we remain confident that the
Californian business will move back into profit this year.



'Our UK Commercial Property business has completed the sale of eight
developments so far although occupier markets generally remain flat.
Additionally, our strategy of disposing of our investment properties for value
has realised £20m in disposals to date.



'Our refocused Construction business remains on track to meet its targets for
this year and we expect that the percentage of turnover generated from within
the Group will rise to around 20 per cent by the end of the year.



'In summary, Taylor Woodrow is experiencing strong demand in all of its housing
markets.  Housing now generates over 80 per cent of operating profits. The other
components of our business continue to perform well and in line with our
expectations. Taylor Woodrow is on track to produce another good performance in
2002.'



                                    - ends -





Notes to Editors



Taylor Woodrow plc is a housing and development group operating out of the UK,
North America and other selected markets.  The company is listed on the London
Stock Exchange and in the year ending 31 December 2001, turnover exceeded £2
billion for the first time whilst operating profits rose by 35 per cent on the
previous year to £224.2 million.  Our vision is to become the leading developer
of living and working environments in the UK and other chosen markets.



High-resolution photographs of Taylor Woodrow's Chairman, Dr Robert Hawley and
Chief Executive, Iain Napier are available to the media, free of charge at
www.newscast.co.uk.  For any queries, please contact Rachael Morgan (01784
428773/07904 528106.



The full AGM presentation will be available on taylorwoodrow.com from 17:00 hrs
on May 29, 2002.



For further information, please contact





Ian Morris                                01784 428767 / 07816 518767
Miranda Bellord                           01784 428768 / 07946 722381
Taylor Woodrow Public Relations





Jonathan Murrin                            01784 428718 / 07789 922536
Taylor Woodrow Investor Relations



Scott Fulton                               020 7269 7130 / 07788 144993
Peter Otero                                020 7269 7103 / 07979 537408
Financial Dynamics







                      This information is provided by RNS
            The company news service from the London Stock Exchange