Chairman's AGM Statement re Results

Barratt Developments PLC
18 November 1999


                Statement made by Mr Frank Eaton
              Chairman of Barratt Developments PLC
                  at the Annual General Meeting
               held on Thursday 18th November 1999

I  would  like to take the opportunity today to comment  on  our
results for the financial year ending 30th June last and also to
update you on current trading conditions since 1st July and  our
prospects for the current financial year.

During  the  year we again achieved excellent progress  and  our
results  were particularly pleasing in view of the  slow  market
that  existed  throughout  the first  half  year  from  July  to
December  1998.   During that period we were the  only  national
house-builder to significantly increase volume, up  8%  year  on
year,  which  clearly demonstrates the inherent  strengths  that
exist within the Group.

Following  a  series  of interest rate reductions,  the  housing
market  improved in our second half year and we maximised  fully
on  this, producing record profits for the financial year ending
30th  June  1999  of £112m, up 20% and securing  record  forward
sales,   up   £102m   to  £343m.   A  highly  successful   year,
contributing  to an increase in earnings per share  of  22%  per
annum on average over the past five years.  Over the same period
we  have also progressively improved our return on capital up to
26% - amongst the highest in our industry.

As  we  move forward through our new financial year I am pleased
to  report  that  we  continue  to produce  an  excellent  sales
performance.  Sales reservations for the 20 weeks to date are up
10%  year on year, further increasing our advance sales to  over
£400  million.  We also continue to improve our average  selling
price  and  selling costs in line with our expectations,  which,
coupled   with   our   stringent  controls  of   overheads   and
construction  costs, give us great confidence.  We remain  fully
on  course  to achieve our anticipated volume profit and  margin
improvement.

Land  availability and planning delays continue to be a  serious
concern  and are restricting the industry's ability  to  satisfy
housing  needs.  The system is equally inefficient  whether  for
brownfield  or  greenfield  sites  and  is  undoubtedly   adding
unnecessary  pressure  to house prices  and  in  many  areas  is
pricing property out of the reach of first-time buyers.

Against  this difficult background, our success in progressively
increasing  land  holdings year on year  has  been  one  of  our
strengths  and  in the year just ended we further increased  our
land stocks to 29,200 plots, up 12%, consistent with our planned
growth  objectives.  This ongoing expansion of our land  stocks,
focusing on prime locations and areas of proven demand, has been
achieved  whilst maintaining our stringent land buying  criteria
and  will  further  assist our sales operations  going  forward,
providing  quality  locations in all the main  population  bases
throughout the UK.

Shareholders will be aware that our current share price does not
reflect the performance of the Group, nor the future performance
we   anticipate,  because  of  concerns  over  interest   rates.
However, our track record over recent years clearly demonstrates
our  ability  to  continue  to grow the  business  and  increase
profits  during periods of rising interest rates and fluctuating
markets  and  we  are  confident we will do  so  again.   Modest
movement in interest rates will ensure we have a stable  economy
going forward and, notwithstanding the two recent increases,  we
continue  to  experience  a  good  UK  housing  market,  further
increasing both sales and market share.

Our  financial  position is very strong and  our  investment  in
securing adequate land stocks has been well placed, providing  a
total  geographic spread of quality locations across all  market
sectors.   We  have  a  range of house  styles  that  meets  the
aspirations  of  today's  home-buyers and  we  have  the  proven
marketing  skills  to continue our sales success  with  all  our
regions achieving sales increases year on year.

Having  regained our position as the highest profit producer  in
our  industry,  shareholders can be assured we shall  strive  to
maintain this position.

I  am  confident that our management team has all the  qualities
and  experience needed to secure another highly successful  year
and continue the sound progress we have made in recent years.


Frank Eaton
Chairman                                      18th November 1999