Disposal

Taylor Woodrow PLC
6 November 2001


PRESS RELEASE

                                                         For Immediate Release

                                                               6 November 2001

TAYLOR WOODROW EXITS AUSTRALIAN HOUSING

WITH A$11 MILLION SALE


Taylor Woodrow has sold its remaining residential interests in Australia, it
was announced today (6 November 2001).

The Group has disposed of its interest in the Harrington Park development in
Sydney to companies controlled by Lady Mary Fairfax, AM, OBE for a net
consideration of approximately A$11 million, paid in cash on completion.

Lady Fairfax and Taylor Woodrow have been joint venture partners in the
Harrington Park development for eight years.

In July, Taylor Woodrow sold its main residential business in Australia to
Stockland Corporation Limited for A$85 million.

Commenting on the sale, Keith Egerton, Taylor Woodrow's group chief executive,
said that the sale of Harrington Park signalled the exit of Taylor Woodrow
from the Australian housing market and will allow the Group to concentrate on
its core businesses.

                                    -ends-

For further press information, please contact

Tony McGarahan

Corporate Communications

Taylor Woodrow plc

01784 428767

07796 276342