Acquisition of Tilbury Douglas Homes Limited

Persimmon PLC 22 February 2000 ACQUISITION OF TILBURY DOUGLAS HOMES LIMITED FROM TILBURY DOUGLAS PLC Persimmon plc, one of the largest UK housebuilders, has today completed the acquisition of Tilbury Douglas Homes Limited from Tilbury Douglas plc for a total cash consideration of £19.5m. Persimmon will acquire as part of this transaction 16 new sites to add to their already existing developments in Scotland plus a significant involvement in partnership housing, extending this area of activity for Persimmon in Scotland. The acquisition of Tilbury Douglas Homes Limited adds approximately 1,000 plots to Persimmon's Scottish landbank which now totals 3,100 plots with Planning Permission. In 1999 Persimmon completed approximately 600 homes in Scotland and Tilbury Douglas Homes approximately 400. We expect to complete well over 1000 homes in Scotland during 2000. John White, Group Chief Executive of Persimmon, said: 'Persimmon has achieved tremendous growth in Scotland having significantly increased market share through organic growth and acquisition. Our last acquisition from Laing Homes was successfully integrated and I believe that the Tilbury Douglas acquisition will provide similar support to further improve growth and profitability.' Persimmon plc's preliminary results for the year ended 31 December 1999 will be announced on Monday 6 March 2000. Enquiries: John White, Group Chief Executive, Tel: 01904 642199 Mike Killoran, Group Finance Director, Tel: 01904 642199 John Millar, Regional Chairman, Tel: 01698 457117 Michael Sandler/Justin Strong, Hudson Sandler, Tel: 020 7796 4133

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Persimmon (PSN)
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