Holding in Company

Crest Nicholson PLC
23 August 2001


                        Crest Nicholson 'The Company'

Crest Nicholson plc has today been advised that Legal & General Investment
Management Limited has a notifiable interest in 4,004,602 Ordinary shares in
the company, representing 3.68% of its issued ordinary share capital.

The shares are registered as follows:

Material Interest


HSBC Global Custody Nominee (UK) Ltd A/c 775245                  812,752

HSBC Global Custody Nominee (UK) Ltd A/c 360509                   42,375

HSBC Global Custody Nominee (UK) Ltd A/c 357206                2,964,475

HSBC Global Custody Nominee (UK) Ltd A/c 747381                  106,000

HSBC Global Custody Nominee (UK) Ltd A/c 866203                   79,000

                                                            ------------
                                                               4,004,602