AGM Statement

Galliford Try PLC
29 October 2004


                               GALLIFORD TRY PLC
                        ANNUAL GENERAL MEETING STATEMENT

Tony Palmer, Chairman of Galliford Try plc, will make the following comments at
the annual general meeting of the Company to be held at 12:00 noon today:

'When announcing our results for the year to 30 June, I said that we had an
excellent year. We achieved our financial targets, are on course to deliver
further margin increases in construction, and have embarked on a carefully
controlled expansion of our housebuilding business. In short, we are realising
our strategy and are in an extremely strong financial position. Our task now is
to build on that strength to deliver more in the future.

Our construction division continues to make good progress. It is firmly
established as a leading provider in its selected markets, and has been
successful in securing long term work through frameworks and partnering
agreements balanced across those sectors. We have made particularly good
progress in education and health, both areas in which expenditure is projected
to continue at a high level.

Affordable housing investment also continues to grow and we were delighted to
announce earlier this week that, since the start of the new financial year, we
have been awarded £91 million of work to be carried out under agreements with
housing associations, including our partnerships with Toynbee, Westcountry and
the Guinness Trust.

Overall, our current construction order book is £703 million of which 90% has
been secured on a non price competitive basis.

I am pleased to report that our housebuilding division has currently either
reserved, contracted or completed sales with a value of £115 million, 11% up on
a year ago and representing 58% of planned sales for the year to 30 June 2005.
As we had anticipated and planned for, sales during the early autumn have been
held back due to the cumulative effect of a succession of interest rate rises,
coupled with the additional time purchasers are taking to make decisions.
However, we have been encouraged by visitor levels to our developments in recent
weeks, and the underlying demographic and economic factors, as well as the
continuing restriction of supply through planning constraints, indicate the
market fundamentals remain sound.

We are making good progress with our cost reduction initiatives in the business,
and our focus on the more resilient mainstream market and in individually
designed developments is standing us in good stead. In this context we were
delighted that our south west business, Midas Homes, recently received the 2004
Outstanding Housebuilder award from Building magazine.

Our expansion of housebuilding is continuing to plan. We are being particularly
selective in the current land market and, despite tightening our investment
criteria, have been successful in increasing our land bank of plots owned or
controlled by 11% since the beginning of July to 2,600.

After seven years service, Mike Jackson steps down from the board today. On
behalf of the board I thank him for making an effective and valued contribution
to the business. I am pleased to tell you that we are making good progress
towards appointing a new non-executive director.

Galliford Try has clear strategies in both construction and housebuilding that
are delivering results. We are focused on those construction sectors that have
good potential, and although current market conditions are weaker, housebuilding
is in a good position to make its planned progress. We have started the year in
line with our expectations and have a management team that has the experience
and ability to drive the business forward.'

Tony Palmer
Chairman
29 October 2004


For further enquiries:

David Calverley, Chief Executive    Galliford Try     01895 855 219
Frank Nelson, Finance Director      Galliford Try     01895 855 226
Ann-marie Wilkinson                 Bell Pottinger    020 7861 3232     


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