Re St.Katharine's Dock Estate

Taylor Woodrow PLC
21 November 2001

21 November 2001                              For Immediate Release

                         TAYLOR WOODROW ANNOUNCEMENT

                        ON ST KATHARINE'S DOCK ESTATE

Taylor Woodrow plc, the international development group, today (November 21)
announced that, following an exercise to establish market interest in its St
Katharine's Dock investment property, it would not proceed with a sale of this
important asset at this time.

Group chief executive, Keith Egerton, commented:

'The marketing exercise we have conducted over the last three months has
confirmed significant interest in our St Katharine's Dock property. However,
we are not currently able to structure a transaction which is clearly in the
interest of our shareholders. This property generates a good level of income
and there will be better opportunities for a sale.'

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