Share Ownership Trust

Taylor Woodrow PLC
23 November 2001


Taylor Woodrow plc

Taylor Woodrow plc Employee Share Ownership Trust

On 22 November 2001 the Taylor Woodrow plc Employee Share Ownership Trust
('ESOT')
disposed of 874,441 ordinary shares of 25p each in Taylor Woodrow plc.
The said shares were purchased by the Taylor Woodrow plc Qualifying Employee 
Share Ownership Trust ('QUEST')

and will be used to meet maturing options under the Taylor Woodrow Group 
Savings-Related Share Option Scheme.

As a consequence of the above transaction, there is no longer a balance of
unappropriated shares in the ESOT.

The notional interest of Executive Directors of Taylor Woodrow plc in the
unappropriated balance of shares held in the QUEST is 99,472 shares.