Guidance on IFRS Presentation

Taylor Woodrow PLC
18 April 2005


Taylor Woodrow plc is holding a technical presentation for analysts and
investors, to provide an overview of the impact of International Financial
Reporting Standards (IFRS) on the company's financial statements for the year
ended 31st December 2004, which were previously announced on 1st March 2005.

The main impacts of restatement under IFRS are as follows;
• PBT increases by 3.5% from £390.4m to £403.9m
• Basic EPS increases by 6.3% from 46.2p to 49.1p
• Shareholders' funds increase by 3.8% from £1,637.8m to £1,700.2m
• Gearing reduced by 2.3 percentage points from 34.1% to 31.8%
• Return on Average Capital Employed* increased by 0.6 percentage points
  from 24.6% to 25.2%
• There is no material change to pension accounting as this was already
  allowed for in the published 2004 financial statements

* pre-exceptional items and goodwill/goodwill amortisation

The first full reporting under IFRS by Taylor Woodrow will be for the six months
ending 30 June 2005.

The presentation slides will be available from 3pm today on the company's
website www.taylorwoodrow.com

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For Further Information

Taylor Woodrow Media Enquiries:
Ian Morris -         Tel: [phone]

Taylor Woodrow Investor Relations:
John Holland-Kaye -  Tel: [phone]

Maitland Consultancy:
Emma Burdett -       Tel: [phone]




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