Director Shareholding

Taylor Woodrow PLC 24 November 2004 Taylor Woodrow Employee Share Ownership Trust Taylor Woodrow plc ('the company') has been notified of the transfer on 24 November 2004 of 10,836 25p ordinary shares of the company ('shares') by the Taylor Woodrow Employee Share Ownership Trust ('ESOT'). These shares have been transferred to employees (not executive directors of the company) who validly exercised options granted over shares pursuant to the Taylor Woodrow Group Savings-Related Share Option Scheme and the Taylor Woodrow Executive Share Option Plan. The employee interests arising from this transaction are not themselves reportable. Following this disposal, the ESOT now holds 8,188,361 shares. Each of the executive directors of the company is a potential beneficiary under the ESOT and therefore, in accordance with section 329 Companies Act 1985, is regarded as having a notional interest in the ESOT holding of 8,177,525 shares. Despite having this notional interest, each executive director will only be entitled to receive shares from the ESOT in satisfaction of options granted to him pursuant to the company's share option plans as previously disclosed. Richard Morbey Group Company Secretary This information is provided by RNS The company news service from the London Stock Exchange
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