Trading Statement

Savills PLC
19 December 2002



For immediate release                                           19 December 2002


                                  SAVILLS PLC

                          ('Savills' or 'the Company')

                            Full Year Trading Update

Savills, the International property adviser, is pleased to announce a trading
update for the year ending 31 December 2002, prior to the announcement of the
preliminary results on 4 March 2003.


Overview

When we released our results for the six months ended 30 June 2002 on 4
September 2002 the Chairman reported that the Group remained cautiously
confident about the outlook for the full year, as business had strengthened in
both the UK and overseas.  Despite the continuing weaknesses in commercial
leasing and the Asian transactional markets, that confidence was justified.

Main Business Streams

Transactional

The UK and overseas commercial investment markets remain very active and low
interest rates have strengthened demand from domestic, private and institutional
investors.  Tenant demand remains weak with increasing vacancy rates in London
and the South-East depressing rental values.  However, the leasing markets in
other regions remain active.

Residential markets have remained strong, despite concern in the Press of a
price 'bubble'.  Following a very strong spring, the autumn market has shown
itself to be more price sensitive, with good turnover of sales where vendors are
prepared to be realistic on price.


Consulting

The consulting business is far less affected by short-term movements in market
confidence and continues to perform well.  We are continuing to build the UK
consultancy business, particularly the commercial valuation and building
consultancy divisions.  Our commercial and residential businesses are continuing
to recruit to strengthen their consultancy departments.


Property Management

The UK Property Management business is continuing to win new instructions and we
are now expanding the business throughout Europe.

The strong Hong Kong operation is also winning new contracts and producing good
results despite difficult market conditions in Asia.


Facilities Management

The Hong Kong based facilities management business continues to perform in line
with expectations in an increasingly competitive market.  As we stated when we
released our results for the six months ended 30 June 2002, the strategy for our
joint venture with Trammell Crow Company, TrammellCrowSavills, is to concentrate
on smaller scale outsourcing projects.


Property Trading

Following some major new lettings and changes in tenancies, trading at The Mill
Discount Department Store has improved significantly.  However, results have
been affected by the costs of reconfiguring the scheme and the Group will review
the holding value of this investment at the year-end and make any appropriate
provision.


Financial Services

Our private client financial services business Savills Private Finance, which
focuses on residential mortgages, has had a good year and is performing ahead of
plan.


Share Buy-Back

Given the Group's strong cash position and the Board's commitment to enhancing
shareholder value, the Directors have decided that it is appropriate to initiate
a limited share buy-back of up to 5% of issued share capital, in accordance with
the existing authority given by Shareholders at the AGM held on 30 April 2002.


Overall

We expect that the underlying full year operating performance will be in line
with market expectations.  The Board remains cautiously confident about the
Group's performance in 2003.



                                      Ends





For further information



Savills plc                               020 7409 9923
Aubrey Adams, CEO
Robert McKellar, Finance Director

Grandfield                                020 7417 4170
Charles Cook
Gareth Penn


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