Director Shareholding

Taylor Woodrow PLC
27 October 2004


Taylor Woodrow Employee Share Ownership Trust


Taylor Woodrow plc ('the company') has been notified of the transfer on 
27 October 2004 of 18,886 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.

The employee interests arising from this transaction are not themselves 
reportable.

Following this disposal, the ESOT now holds 8,205,432 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 8,205,432 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




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