Re Contract

Crest Nicholson PLC
13 June 2006



                              Crest Nicholson PLC                               

              Major new residential development in West Lothian Scotland           
                                                                                
Crest Nicholson PLC today announces that it has exchanged contracts with joint
venture partners including the Royal Bank of Scotland to design and oversee the
delivery of a major sustainable community at Heartlands in West Lothian,
Scotland. The development is expected to be in full production for the 2007/08
financial year with an overall 15 year development programme. The gross
development value of the initial residential scheme is approximately £300m.

Heartlands is located at Whitburn which lies close to the M8 between Edinburgh
and Glasgow. Already benefiting from Outline Planning Permission, the first
phase of the development comprises 2,000 dwellings and associated community
infrastructure. Crest Nicholson has also taken options over future phases which
are already allocated for development and could total a further 3,000 dwellings.

Crest's role is initially to master plan the development area and establish
design principles for the site as a whole. The majority of the development value
created will be realised through sales of serviced land, but Crest will retain
at least 30% of the site for its own residential development. Joint venture
partners will be responsible for developing the adjacent 100 acre business park
and two championship quality golf courses. Crest Nicholson will deliver the
supporting retail and community facilities.

Stephen Stone , Chief Executive of Crest, said

"The Heartlands development represents a new departure for Crest and gives us
our first project in Scotland.

We are delighted that our reputation for creating well conceived high quality
communities in England has enabled us to secure this development opportunity and
we look forward to working with our partners to set a new standard for high
quality sustainable development in the central belt of Scotland."

Enquiries to:

Stephen Stone/Peter Darby
Crest Nicholson PLC
Tel: [phone]
 
Andrew Fenwick /Robert Gardener
Brunswick Group LLP
Tel: [phone]

 
Notes to editors

Crest Nicholson PLC (Crest)

Crest, the residential and mixed used development company, is a leading
developer of sustainable communities and large scale urban regeneration schemes
throughout the UK. The Company's vision and values, combined with its experience
gained from its existing portfolio of major projects, makes the company well
equipped to lead the complex and challenging process of delivering sustainable
communities.

Current urban regeneration projects include developments at Port Marine
(Portishead), Bristol Harbourside, Ingress Park (Greenhithe), Park Central
(Birmingham) and Riverside (Hemel Hempstead). In addition the Company has a
significant pipeline of agreed urban regeneration projects including Oakgrove
(Milton Keynes), Penarth Heights (Cardiff), Bath Western Riverside and Woolston
Riverside (Southampton).

For further information see www.crestnicholson.com.



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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