Offer Update

Taylor Woodrow PLC
02 October 2003

   Not for release, publication or distribution in or into any US Restricted
                    Jurisdiction, Canada, Australia or Japan

           Recommended Offer by UBS Investment Bank and HSBC Bank plc
                        on behalf of Taylor Woodrow plc
                (and in the United States by Taylor Woodrow plc)
                        for Wilson Connolly Holdings Plc

                      Offer declared wholly unconditional



For immediate release                  2 October 2003

Further to the announcement earlier today, Taylor Woodrow also announces that
all of the conditions of the Offer as set out in the Offer Document dated 1
September 2003 have now been satisfied or waived, subject only to the admission
of the New Taylor Woodrow Ordinary Shares becoming effective in accordance with
the Listing Rules and the admission of such shares to the London Stock
Exchange's market for listed securities becoming effective ('Admission').
Accordingly, the Offer has been declared wholly unconditional subject only to
Admission which is expected to become effective at 8.00 a.m. on 3 October 2003.

The Offer, including the Loan Note Alternative, and the Dividend Election
Facility which were extended earlier today will now remain open until further
notice.  Taylor Woodrow confirms that sufficient elections under the Loan Note
Alternative have been received for Loan Notes to be issued to those Wilson
Connolly Ordinary Shareholders who elected to receive them.

As announced earlier today, the Mix and Match Facility will remain open until
3.00 p.m. on 8 October 2003 but will then close.

Settlement will be effected on or before 16 October 2003 to such Wilson Connolly
Ordinary Shareholders who have already validly accepted the Offer.  Settlement
for Wilson Connolly Ordinary Shareholders who validly accept the Offer from
today onwards will be effected within fourteen days of receipt of their valid
acceptance.

Taylor Woodrow also announces that as a result of the Offer having been declared
wholly unconditional, Iain Napier and Peter Johnson will be appointed as
directors of Wilson Connolly with immediate effect and by mutual agreement all
of the other directors of Wilson Connolly, with the exception of Graeme
McCallum, will be resigning from office.  Formal regulatory announcements with
details of these changes will be made by Wilson Connolly.

Taylor Woodrow is also pleased to announce that Graeme McCallum (currently
Wilson Connolly's Chief Executive) will be appointed a director of Taylor
Woodrow  with effect from Monday 6 October 2003.  In connection with the
appointments of Messrs Napier and Johnson to the board of Wilson Connolly and Mr
McCallum to the board of Taylor Woodrow, Taylor Woodrow  confirms that there are
no details requiring disclosure under paragraphs 6.F.2 (b) to (g) of the Listing
Rules of the Financial Services Authority.

Taylor Woodrow intends, as soon as practicable, to procure the making of an
application by Wilson Connolly to the UK Listing Authority for cancellation of
the listing of the Wilson Connolly Ordinary Shares on the Official List and to
the London Stock Exchange for the cancellation of trading of Wilson Connolly
Ordinary Shares on the London Stock Exchange's market for listed securities.

Following cancellation of Wilson Connolly's listing and admission to trading,
Taylor Woodrow will use all reasonable endeavours to procure payment of the
interim dividend of 3 pence per Wilson Connolly Ordinary Share as soon as
practicable to those Wilson Connolly Ordinary Shareholders who have already
validly accepted the Offer and elected as part of their acceptance to receive
that dividend.

Terms defined in the Offer Document dated 1 September 2003 shall have the same
meaning in this announcement.

For further information or enquiries, please contact:

Taylor Woodrow
Ian Morris, Corporate Communications

Phone: [phone]

Jonathan Murrin, Investor Relations

Phone [phone]

UBS Investment Bank
Michael Lacey-Solymar
Duncan Williams
Bill Hutchings

Phone: [phone]

HSBC
Charles Packshaw
Nick McCarthy
Clive Rates

Phone: [phone]

Financial Dynamics
Scott Fulton
Peter Otero

Phone: [phone] 7269 7121

The Offer is not being made, directly or indirectly, in or into, or by the use
of mails or any means or instrumentality (including, without limitation,
telephonically or electronically) of interstate or foreign commerce of, or any
facility of a national securities exchange of, any Restricted Jurisdiction.
Accordingly, copies of this announcement are not being, and must not be,
directly or indirectly, mailed or otherwise forwarded, distributed or sent in or
into or from any Restricted Jurisdiction and persons receiving this announcement
(including custodians, nominees and trustees) must not mail or otherwise
forward, distribute or send it in or into or from any Restricted Jurisdiction.
Doing so may render invalid any purported acceptance of the Offer.  The
availability of the Offer to persons who are not resident in the United Kingdom
may be affected by the laws of the relevant jurisdictions.  Persons who are not
resident in the United Kingdom should inform themselves about and observe any
applicable legal or regulatory requirements of their jurisdiction.  Further
details in relation to overseas shareholders are contained in the Offer
Document.

UBS and HSBC (which is regulated in the United Kingdom by the Financial Services
Authority) are acting for Taylor Woodrow and no one else in connection with the
Offer and will not be responsible to anyone other than Taylor Woodrow for
providing the protections afforded to customers of UBS and HSBC nor for giving
advice in relation to the Offer.




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