Acquisitions Completed

WOLSELEY PLC
26 July 1999

                     Wolseley announces a move into Italy                     
                        and three further acquisitions                        
 
Wolseley plc announces that it has completed the acquisitions of four
distribution businesses (two in the USA, one in the UK and one in Italy) for
an aggregate cash consideration of approximately £46 million, including net
debt acquired.  In total, these businesses should contribute approximately £86
million of additional sales to the Wolseley group in a full year. Wolseley's
total acquisition spend, including debt acquired, now amounts to approximately
£320 million in the 1998/9 financial year to date and should add approximately
£627 million to the Wolseley group turnover in a full year.

The acquisition announced today in Italy represents Wolseley's first
investment in that country.  It is expected to lead to further expansion in
the fragmented Italian market through a combination of branch openings and
bolt on acquisitions.

Details of the four distribution businesses acquired, none of which have
previously been announced, are set out below.

On 23 July 1999, a subsidiary of Wolseley plc acquired an interest of
approximately 80% in an Italian holding company which in turn owns 100% of the
share capital of Manzardo.  The transaction has been structured to allow the
vendors to retain certain real estate but, with effect from the acquisition
date, Wolseley has acquired title to all of the assets of the Manzardo
business and is entitled to 100% of its earnings.  Manzardo is believed to be
the fourth largest distributor in Italy of plumbing, heating and sanitary ware
and operates from seven outlets in Northern Italy with its headquarters in
Bolzano.  In the year to 31 December 1998, the business reported sales of
approximately ITL 120 billion (£41 million).  The Manzardo family business has
been established for over fifty years and its present Managing Director,
Claudio Manzardo, will continue to be responsible for running the business
under Wolseley's ownership.  Wolseley expects to be able to use the Manzardo
business as a platform for further expansion in Italy through branch openings
and acquisitions.

Jacques Descours, Managing Director of Brossette BTI and responsible for
Wolseley's distribution operations in southern Europe, will have overall
management responsibility for Manzardo.  Many of Manzardo's suppliers are
common to Wolseley's other European operations and additional benefits are
expected through synergies and the adoption of best practice techniques from
Wolseley's other distribution companies.

On 30 June 1999, Wolseley Centers Limited acquired Firstbase Timber, a timber
distribution business trading from eight locations in Scotland.  This
acquisition will facilitate Builder Center's expansion of its timber
distribution business. In the year to 31 October 1998, Firstbase Timber
reported sales of approximately £15 million.

On 14 June 1999, Carolina Holdings Inc, Wolseley's lumber distribution
business in the USA, acquired Summit Structures Inc which operates five
component manufacturing plants in North Carolina.  The company trades under
the names of Blue Ox and Atlantic Structures and is headquartered in
Kernersville, North Carolina.  Summit has three truss manufacturing plants, a
wall panel plant and an engineered floor system manufacturing operation. 
Summit reported sales for the year ended 31 December 1998 of approximately $28
million (£18 million).  Summit's component manufacturing capabilities will
reinforce Carolina's position as a leading supplier of building materials to
the professional contractor through the Carolinas and Virginia.  With the
addition of these five locations, Carolina now has 25 facilities in North
Carolina out of a total of 132 in the USA.

On 4 June 1999, Ferguson Enterprises Inc acquired certain assets of Midwest
Pipe and Supply Company Inc, a distributor of waterworks products and supplies
operating from three locations in Ohio.  Midwest Pipe's sales for the year
ended 31 December 1998 were approximately $18.5 million (£12 million).  This
acquisition will be used as a platform for further waterworks' expansion in
the Midwest where, until now, Ferguson has had a limited presence.

Note:       The exchange rates used in this announcement are £1 = 2,902
Italian lire and £1 = 1.57 US dollars.


ENQUIRIES:

John Young - Group Chief Executive
Steve Webster - Group Finance Director

Wolseley plc - Telephone [phone]

Tony Knox - Financial Dynamics
Telephone [phone]