Recommended Offer

Taylor Woodrow PLC
02 October 2003


   Not for release, publication or distribution in or into any US Restricted
                    Jurisdiction, Canada, Australia or Japan

           Recommended Offer by UBS Investment Bank and HSBC Bank plc
                        on behalf of Taylor Woodrow plc
                (and in the United States by Taylor Woodrow plc)
                        for Wilson Connolly Holdings Plc

                                  Offer update

For immediate release                                             2 October 2003

Taylor Woodrow announces that as at 3.00 p.m. on 1 October 2003, the second
closing date of the Offer, valid acceptances of the Offer had been received in
respect of 169,796,151 Wilson Connolly Ordinary Shares, representing
approximately 81.35 per cent of the existing issued ordinary share capital of
Wilson Connolly.

Prior to the commencement of the Offer Period, neither Taylor Woodrow nor any
person acting in concert with Taylor Woodrow owned any Wilson Connolly Ordinary
Shares.

Neither Taylor Woodrow, nor any of the Taylor Woodrow Directors, nor, so far as
Taylor Woodrow is aware, any person acting in concert with Taylor Woodrow has
acquired or agreed to acquire any Wilson Connolly Ordinary Shares since the
commencement of the Offer Period.

The Offer, including the Loan Note Alternative, the Dividend Election Facility
and the Mix and Match Facility, has been extended and will remain open until
3.00 p.m. on 8 October 2003.

Terms defined in the Offer Document dated 1 September 2003 shall have the same
meaning in this announcement.

For further information or enquiries, please contact:

Taylor Woodrow

Ian Morris, Corporate Communications

Phone: [phone]

Jonathan Murrin, Investor Relations

Phone [phone]

UBS Investment Bank

Michael Lacey-Solymar

Duncan Williams

Bill Hutchings

Phone: [phone]

HSBC

Charles Packshaw

Nick McCarthy

Clive Rates

Phone: [phone]

Financial Dynamics

Scott Fulton

Peter Otero

Phone: [phone] 7269 7121

The Offer is not being made, directly or indirectly, in or into, or by the use
of mails or any means or instrumentality (including, without limitation,
telephonically or electronically) of interstate or foreign commerce of, or any
facility of a national securities exchange of, any Restricted Jurisdiction.
Accordingly, copies of this announcement are not being, and must not be,
directly or indirectly, mailed or otherwise forwarded, distributed or sent in or
into or from any Restricted Jurisdiction and persons receiving this announcement
(including custodians, nominees and trustees) must not mail or otherwise
forward, distribute or send it in or into or from any Restricted Jurisdiction.
Doing so may render invalid any purported acceptance of the Offer.  The
availability of the Offer to persons who are not resident in the United Kingdom
may be affected by the laws of the relevant jurisdictions.  Persons who are not
resident in the United Kingdom should inform themselves about and observe any
applicable legal or regulatory requirements of their jurisdiction.  Further
details in relation to overseas shareholders are contained in the Offer
Document.

UBS and HSBC (which is regulated in the United Kingdom by the Financial Services
Authority) are acting for Taylor Woodrow and no one else in connection with the
Offer and will not be responsible to anyone other than Taylor Woodrow for
providing the protections afforded to customers of UBS and HSBC nor for giving
advice in relation to the Offer.

TP032730075


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