Trading Statement

Taylor Woodrow PLC
01 July 2003


Embargoed:  07:00 hrs  1 July 2003


                               Taylor Woodrow plc

                           Interim Trading Statement


Based on current performance, we expect to report interim results ahead of last
year and in line with the Board's expectations.

In the six months to end June 2003, our UK housing business has seen a return to
more normal trading conditions following the strong markets of 2002. We have
completed around 2,300 sales at an average selling price of £190k. We entered
the year with 13 per cent fewer sites than the average for the first half of
2002. During the first six months of the year we opened, on a net basis, 21 more
sites with a further 18 sites projected to open in the second half.  Due to the
low number of sites at the start of the year, continuing planning delays and a
slowdown in London and parts of the South East, volumes for the first half are 
8 per cent lower than last year. However, the benefit of cost reductions and 
increased selling prices should result in interim operating profits well ahead 
of last year.

The Board now expects flat volumes in the UK for the full year.

In North America we have completed around 1,300 homes, up from 902 homes last
year. Most of this volume growth has come from the acquired Arizona business
that delivered around 300 completions this half-year. The excellent performance
in all our North American markets will result in strong growth in operating
profits, ahead of the Board's previous expectations.

Our Spanish business also continues to perform strongly.

Total housing order book is £825 million compared with £802 million for the
previous year.

Construction has continued to grow its order book, which now stands at £750
million, up 24 per cent on last year.

As previously reported, we have reduced our exposure to commercial property
markets that remain challenging.

Subject to reasonable UK markets in the second half of the year, the Board
believes that it will report full year earnings in line with current market
expectations. While UK markets have slowed, the group's attractive position
within selected North American markets justifies the Board's confidence.


                                   - ends -


A conference call for investors and analysts will be held at 8am on 1st July.
Dial up details are available from Jonathan Murrin on 07816 518718.


Notes to Editors

Taylor Woodrow plc is an international housing and development company operating
out of the UK, North America and Spain.  The company is listed on the London
Stock Exchange and in the year ending 31 December 2002 turnover increased to
£2.2 billion.  The company's vision is to be the leading developer of living and
working environments in the UK and other chosen markets.


For further information, please contact

Ian Morris                                          0121 600 8520 / 07816 518767
Taylor Woodrow Corporate Communications

Jonathan Murrin                                     0121 600 8521 / 07816 518718
Taylor Woodrow Investor Relations

Scott Fulton                                        020 7269 7130 / 07788 144993
Peter Otero                                         020 7269 7121 / 07979 537408
Financial Dynamics



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