AGM Statement

Galliford Try PLC
28 October 2005



                               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 was delighted to report
another excellent year. We achieved record financial results and delivered
growth in both construction and housebuilding.

Construction profits have steadily risen and we achieved a margin of 1.5%, well
on the way towards our 2% target. The business is generating good cash flows,
and we are now clearly seeing the benefits of our focus on specific market
sectors where clients seek early contractor involvement in their construction
programmes. In one of the most difficult housebuilding markets we have
experienced for many years we increased our profit, and saw our margin rise to
14.1%. This demonstrates that our strategy of providing individually designed
developments for the mainstream market, and not being dependent on major
consortium sites or high rise apartment developments, is proving to be a
successful business model.

Our record results for the year to 30 June 2005 and the 24% increase in the
dividend represents a combination of the delivery of our strategy in both
construction and housebuilding and our confidence that the business is well
positioned to deliver sustainable future growth to shareholders.

Our task in construction is now to increase profits by expanding the business at
a rate that does not compromise margin. Investment in the country's
infrastructure is continuing, and, as one of the key construction providers to
the water and rail industries, we work both through frameworks and by carrying
out single projects. We are in the third year of our successful framework with
Scottish Water, and are now in the first year of our new five year extendable
framework with United Utilities to carry out around £250m of work.

The majority of future work in health and education will be through PFI's,
Building Schools for the Future or Local Improvement Finance Trust frameworks.
We have extensive experience of all these methods of procurement, particularly
for delivering the series of mid range projects that form the backbone of the
building works required by education and health authorities. We are currently
working towards financial close on one of the largest multi school PFI
programmes, for Northamptonshire County Council, which we anticipate will
generate over £150m of work on 41 schools over a 3 year period.

We are one of the UK's leading providers of design and construction services for
the mobile phone industry. Earlier this month we were delighted to announce the
acquisition of Pentland Limited, a provider of site acquisition and town and
country planning services to the industry. As the latest generation of mobile
phones are expected to result in an increase in network capacity requirements,
this is an excellent example of how we can further grow our business by
extending and enhancing the services we offer.

The success we have had in securing frameworks, particularly in water and
health, has resulted in our overall current construction order book standing at
£931m compared to £703m at the same stage last year. Of this, 90% has been
secured on a non price competitive basis and 80% is in the public and regulated
sectors.

I am pleased to report that, compared to the difficult selling period of last
year, housebuilding sales since the start of our new financial year are
significantly higher at £72m. We have currently either reserved, contracted or
completed sales in hand with a value of £137m, a 19% increase over a year ago,
representing 56% of our planned sales for the year to 30 June 2006. This
demonstrates the resilience of our business model in a market that remains
fragile, and in which our recent performance has reinforced our confidence to
maintain our expansion plan for the more consistent markets that will return in
the future.

The number of selling outlets in the first half of this financial year is up
20%. We will not ease back on our strict selectivity criteria for land
acquisition, adding to our holdings where the profit potential meets our
requirements. We have a good track record in obtaining planning consents in an
increasingly difficult planning environment. Having obtained a consent for a
mixed scheme of 190 units, we have started work on the old hospital site in the
centre of Truro, our joint redevelopment in partnership with Westco, part of the
Devon & Cornwall Housing Association. Since the year end we have acquired the
redundant Roman Catholic seminary in Osterley, West London, an eight acre site
where we anticipate securing consent for a substantial mixed refurbishment and
new build scheme that will provide both homes for sale and affordable housing.

Both of our divisions are increasing their presence in the affordable housing
market. Our construction capability is particularly strong to the East of
London, an area where significant regeneration is expected to occur prior to the
2012 Olympics.

The requirement for affordable housing as part of our housing developments means
that we can harness that expertise, in partnership with housing associations, to
generate new projects. We are also one of a limited number of developers that
have pre-qualified for inclusion in the Government's £3.9billion national 'New
Partnerships in Affordable Housing' programme by the Housing Corporation which
allows for grant direct to developers.

As you know, Greg Fitzgerald was appointed Chief Executive of the Company on 1st
July, and I am delighted to report that he is already demonstrating the skills
and experience to deliver profitable growth going forward. As announced last
February, I shall be stepping down as Chairman at the end of the meeting, and
will hand over to David Calverley. David was a first class chief executive and I
know he will be an excellent Chairman.

We have a business model that has proved its worth and we have clear strategies
in both construction and housebuilding to deliver growth. We are in a good
financial position and have started the year in line with our expectations. I am
confident that we have the team in place to continue to drive the business
forward.

Tony Palmer
Chairman
28 October 2005

Further enquiries to:

Greg Fitzgerald, Chief Executive Galliford Try Plc             01895 855 219
Frank Nelson, Finance Director Galliford Try Plc               01895 855 226
Ann-marie Wilkinson/Geoff Callow Bell Pottinger Financial      020 7861 3877


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