Chairman's AGM Statement

Wolseley PLC
10 December 1999
                                                                              
                                 Wolseley plc                                 
                                AGM Statement                                  

At the Annual General Meeting held today, Richard Ireland, Chairman of
Wolseley plc, commented,

'In my outlook statement accompanying our 1999 results, I referred to the
improving markets for our distribution businesses in the UK and France and
continuing strong markets in the USA.  I am pleased to confirm that there has
been little change to these business conditions in the year to date, despite
the recent increases in interest rates and a slight decline in the USA in the
annual rate of housing starts and transactions.

The UK distribution businesses have continued to experience a gradual
improvement in their market-places.  In France, Brossette has made a strong
start to the year, benefiting from the final months of a sales incentive
programme which ended on 30 November.  Following a difficult trading period,
there are early signs of a stabilising of conditions in Austria.  
 
In the USA, the markets for our distribution businesses remain good and
business and consumer confidence continues to be positive.  We do not expect
any significant change in the immediate future to this business environment
which should continue to present opportunities for our businesses to grow.

We continue to see opportunities for the development of our businesses both
organically and through acquisition.

Overall, we remain confident of satisfactory progress for the group for the
first half.'

                                  ENQUIRIES:                                  

                      John Young - Group Chief Executive                      
                    Steve Webster - Group Finance Director                    

                    Wolseley plc - Telephone [phone]                     
                    
                                                                              
                        Tony Knox - Financial Dynamics                        
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                               www.wolseley.com