Trading Statement

Taylor Woodrow PLC
19 December 2002


Embargoed until 7.00am - Thursday, 19 December 2002


                               TAYLOR WOODROW PLC

                               Trading Statement


• Taylor Woodrow is trading in line with the Board's expectations for 2002

• Both UK and North American housing markets remain strong

• UK Housing order book £237m - 20% increase on last year

• North American order book £277m - 17% increase on last year

• On track to realise £21m cost savings in 2003, rising to £30m in 2004


Commenting on trading through 2002, Iain Napier Chief Executive, stated:

'The housing markets in both the UK and North America have remained strong
throughout the year and we are confident that our results for the year to 31
December 2002 will be in line with expectations.'

'With good order books and detailed plans to reduce our overheads, we are well
placed for another year of profitable growth for Taylor Woodrow. '


The full trading statement is attached.

                
Notes

 1. Taylor Woodrow is holding a conference call at 8am today for analysts and
    investors. Dial up details for the call are available from Jonathan Murrin
    on 07816 518718.
 2. All quoted order books represent orders as at 1st December 2002 for 2003
    business.


Taylor Woodrow plc, the international housing and development company, today
issued an update on trading for the year ended 31st December 2002.  Preliminary
results will be announced on 4 March 2003.


Introduction

Taylor Woodrow is trading in line with the Board's expectations for 2002.

2002 has been another good year for Taylor Woodrow with housing likely to
represent over 80% of operating profits in the 2002 results.

The implementation of the changes to the UK business, announced in September, is
progressing well with detailed plans in place to deliver the full £21m of cost
savings in 2003 as we simplify and refocus the UK business.


UK Housing

The UK market has remained strong with per site visitor numbers and reservations
for Bryant ahead of last year.

We expect our Bryant business to complete around 6,000 homes in 2002 with
selling prices for the Bryant business increasing by approximately 12.5%
compared to last year.

Our forward order book, at 1 December 2002, was £237m - an increase of 20% on
the same time last year.


North America

Total home completions for 2002 for our North American business are likely to be
around 1,800, up 17% on 2001. At a time when the UK market is becoming ever more
constrained in terms of land availability, the ability to grow in this market,
where Taylor Woodrow has over 20 years experience, highlights the strength of
our diversified portfolio.

Sales at the company's new mid-priced market communities in California are
exceeding expectations and this region is building a strong order book for 2003
completions.  The Canadian business continues to perform well.

The Journey Homes business in Arizona, acquired in August 2002, has been
successfully integrated and has performed in line with our expectations.

Our Texas and Florida operations are well placed with several new developments
opening for sale in 2003.

Our forward order book, at 1 December 2002, was £277m - an increase of 17% on
the same time last year.


Other operations

Our housing operations in Spain and Gibraltar have continued to perform well in
the second half of the year.

Our UK commercial development business has had a quiet second half of the year
and we will continue to look for investments in appropriate mixed use and
complex developments where appropriate.

Construction has continued to perform well in 2002 and enters 2003 with a
forward order book of £610m up 5% on last year.  Construction has continued to
grow its internal workload this year, with around £100m of work delivered to the
Taylor Woodrow group.


Summary

Taylor Woodrow enters the New Year with good order books in all of our
businesses and plans in place to make overhead savings.


                                     -ends-


For further information:

Investor Relations:
Jonathan Murrin                              Tel: [phone]

Media Enquiries:
Ian Morris                                   Tel: [phone]

Financial Dynamics:
Scott Fulton/Peter Otero                     Tel: [phone]



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