Appointment

Taylor Woodrow PLC 18 July 2001 18th July 2001 Taylor Woodrow Announces Senior Management Appointments Taylor Woodrow (TW) today (July 18 2001) announces senior management appointments as part of its aim of drawing together its UK housing, property, construction and engineering activities. These follow the substantial overhaul of its operations in the past year and the acquisition in March of Bryant Homes, creating the UK's fourth largest homebuilder. 'Bryant has proved an excellent acquisition. The first phase of integration has been very successful and the £15 million of synergies outlined at the time of acquisition are secure. In Bryant Homes, we have a highly experienced UK housing management team, a respected name with customers and an excellent landbank. Market conditions continue to remain favourable. It's now time to move towards even more cohesion in our operations', said Group Chairman, Dr Robert Hawley. Having completed the initial integration of the Bryant and Taywood Homes operations into one business, Paul Phipps, currently managing director of Bryant Homes and a director of TW plc, will be leaving the Group. He will relinquish his directorships immediately but will remain for a short while to assist his successor. 'We are grateful to Paul for his success in growing the size and quality of our UK and overseas housing business during his nine years with TW and for the particular contribution he has made to the acquisition of Bryant. We wish him well for the future,' Dr. Hawley said. Denis Mac Daid, 56, managing director of TW's construction business since 1999, will become chief executive of Bryant Homes. He will also join the Board of TW plc as an executive director with effect from 18 July 2001. Mr Mac Daid has extensive general management experience mainly in major capital projects and he has overseen the radical restructuring of TW's construction activities to focus on low risk projects, lower costs and enhanced profitability. Andrew Wyllie, 38, will succeed Mr Mac Daid as managing director of TW's construction business. Mr Wyllie, currently a Director of TW Construction, has been with TW for 17 years. He has implemented many of the changes made in Construction to de-risk its activities and develop a consistently profitable business. He will become a member of the Group Executive Team and will report to group chief executive Keith Egerton. Taylor Woodrow's commercial property, city-centre mixed-use development and upmarket UK residential businesses and the Group's housing and land development operations in Spain and Australia will now come together under Tony Wilby, 48, currently managing director of TW's Property Company. Commenting on the management changes, Dr Hawley said: 'Taylor Woodrow has the complement of in-house skills, management expertise and brand strength which places us in an ideal position to capitalise on the market opportunities in our areas of operation. Our strategy is in tune with the Government's policy of emphasising brownfield and urban regeneration schemes in the UK. 'Taylor Woodrow is a changed and re-energised business. With these appointments we have a senior team equipped with the skills to implement our strategy and take the business forward. We are confident this team will maximise and deliver benefit to shareholders and drive us towards our goal of becoming the UK's leading urban developer.' FSA Listing Rules requirements: The company confirms in connection with the appointment of Mr Mac Daid as a director of Taylor Woodrow plc that there are no details requiring disclosure under Paragraph 6.F.2(b) to (g) of the Listing Rules of the Financial Services Authority. - ends - Notes to Editors Taylor Woodrow is an international housing and property group employing over 6000 people. In the year ending 31st December 2000, pre tax profit rose 64 per cent to a record £201.5 million. Photographs of Mr Mac Daid, Mr Wilby and Mr Wyllie are available on request. Enquiries to: Tony McGarahan, director of corporate relations Taylor Woodrow plc (Office) +44 (0)1784 428767 (Mobile) 07796 276342
UK 100