Proposed StrategicAlliance

Savills PLC
10 May 2000

                             Savills plc

      Proposed strategic alliance with Trammell Crow Company


*     Savills  plc ('Savills') announces the proposed formation
      of a strategic alliance with Trammell Crow Company ('Trammell
      Crow'), involving:

     (i)  the establishment of arrangements for providing a full
        range of property services to customers of Savills and Trammell
        Crow in Europe and the US;

     (ii)  the  purchase  by Trammell Crow of a  10  per  cent.
        shareholding in Savills (from First Pacific Company) and the
        grant by Savills to Trammell Crow of an option over new shares
        in Savills;
     
     (iii) the appointment by Trammell Crow of two directors to
        the Board of Savills; and

     (iv) the establishment of a new European outsourcing joint
        venture company, which will be branded 'Trammell Crow Savills'.

*  Trammell Crow is one of the largest diversified commercial
  real  estate  companies  in  the United  States  and  Canada,
  specialising in property management, brokerage, outsourcing and
  retail services.  Through its 170 offices in the United States
  and Canada, Trammell Crow has developed a comprehensive range
  of service offerings to clients, which include multi-national
  corporations, institutional investors and other users of real
  estate services.  Trammell Crow has over 6,500 employees and in
  1999  executed  9,400  transactions.  The  company's  current
  portfolio comprises 520 million sq. ft. of managed or  leased
  space,  which  includes  138 million  sq.  ft.  of  corporate
  facilities.  Trammell Crow is quoted on the NYSE with a market
  capitalisation of $464 million (£298 million), and in 1999 had
  revenues of approximately $687 million (£441 million).

*    The formation of the strategic alliance with Trammell Crow
  greatly  enhances the capability of both companies to provide
  their  customers with consistent, high quality  execution  of
  transactions in markets that each company has previously  not
  been  able  to serve comprehensively.  The Board  of  Savills
  considers the opportunities for referral of business from the
  US to Europe to be excellent, and believes that this alliance
  will  enhance the company's ability to provide its  customers
  with access to the US market through the expertise of Trammell
  Crow.

*     Trammell  Crow has agreed to acquire from  First  Pacific
  Company   6,250,000  Savills  ordinary  shares,  representing
  approximately  10  per  cent. of Savills'  existing  ordinary
  shares,  at  a price of 222.5 pence per share.  In  addition,
  Savills has agreed, subject to the approval of shareholders, to
  grant Trammell Crow an option over further new Savills shares,
  exercisable  between three and five years  henceforth,  at  a
  minimum of a 20 per cent. premium to the then prevailing market
  price,  which would take Trammell Crow's shareholding in  the
  enlarged  group  to  20  per cent..  These  arrangements  are
  intended  to  cement  the relationship  between  Savills  and
  Trammell Crow and to signify the commitment of both companies
  to the successful implementation of the strategic alliance.

*     As a result of its sale of shares to Trammell Crow, First
  Pacific Company's shareholding in Savills will be reduced  to
  approximately  19.6  per  cent.. First  Pacific  Company  has
  confirmed  to Savills that it is not First Pacific  Company's
  current intention to increase its shareholding in Savills  to
  above 20 per cent..

*     On  completion  of  the arrangements  described  in  this
  announcement,  Trammell Crow will appoint  two  non-executive
  directors to the Board of Savills, one of whom will be William
  Concannon,  the  President  of  Trammell  Crow's  outsourcing
  subsidiary.

*     Savills  and Trammell Crow have agreed to form a European
  joint  venture  company, which will focus  primarily  on  the
  development  of significant opportunities in the  outsourcing
  industry in Europe.  The new company will be owned 51 per cent.
  by  Trammell  Crow and 49 per cent. by Savills  and  will  be
  branded 'Trammell Crow Savills'.  Headquartered in London, the
  venture's   core   service  offerings  will  be   facilities,
  transaction and project management for corporate customers.

*     In  order  to  establish a base from which to  grow  this
  business,  Savills has agreed to contribute  into  the  joint
  venture the Corporate Services division of Savills, and Trigon,
  Savills' wholly owned facility management business.  For  the
  year  ended  30  April  1999, the operating  profits  of  the
  businesses that Savills will contribute to the joint  venture
  (Trigon Limited and the Corporate Services division) totalled
  approximately £181,000.  Net assets of these businesses as at
  30 April 1999 totalled £230,000.  Trammell Crow's contribution
  will  include  the  referral  of  the  European  element   of
  significant global outsourcing contracts developed in the US.
  Trammell Crow has 90 full service corporate outsourcing clients
  in the US, and enjoys a reputation as the leader in outsourcing
  services.

*     It is the intention of both Savills and Trammell Crow  to
  explore the opportunity to expand the geographic scope of the
  outsourcing joint venture to Asia-Pacific and Australia in the
  near future.  This is expected to involve the inclusion in the
  joint venture of the outsourcing elements of Savills' recently
  acquired subsidiary, First Pacific Davies, and would  further
  develop   the   joint  venture's  capability   to   undertake
  international mandates for clients.

*     The strategic alliance between Savills and Trammell Crow,
  which  follows  the recent acquisition by  Savills  of  First
  Pacific  Davies,  represents a further key step  in  Savills'
  strategy  to  develop  and expand its international  presence
  outside its traditional UK market.  The alliance is intended to
  enable   both  companies  to  meet  the  increasingly  global
  requirements of their clients and will enable the development
  of further international opportunities in the future.

*     All  elements  of  the transaction are inter-conditional.
  Various  aspects of the transaction, including the  grant  by
  Savills of the option to Trammell Crow, are conditional  upon
  the  approval  of  Savills shareholders at  an  extraordinary
  general  meeting.  The notice for the meeting and  supporting
  documentation   will  be  posted  to  shareholders   shortly.
  Completion  of the transaction is expected to take  place  in
  June.


Aubrey Adams, Managing Director of Savills, commented:

'Following  the  acquisition  of  First  Pacific  Davies,   the
remaining  major  gap  in  our property  service  business  was
clearly  access  to the USA. I am delighted  to  announce  this
alliance with Trammell Crow, which will give us access  to  the
world's largest real estate market..  As a leading provider  of
property   outsourcing  services  to  major  US   multinational
corporations, Trammell Crow is an ideal partner for Savills and
together  we  are  creating a leading global property  services
grouping.  Our corporate real estate joint venture in Europe is
an  exciting  opportunity to build on our  existing  facilities
management and corporate consultancy business combined with the
know-how  and  extensive client base which  Trammell  Crow  has
developed  in  the  US.  We plan to extend this  joint  venture
concept into Asia-Pacific and Australia in due course.'


Enquiries:

Savills                                          020 7409 9923
Aubrey Adams

Buchanan Communications                          020 7466 5000
Andy Yeo