Offer Update

Taylor Woodrow PLC
09 October 2003

Not for release, publication or distribution in or into any US Restricted
Jurisdiction, Canada, Australia or Japan

 Recommended Offer by UBS Investment Bank and HSBC Bank plc on behalf of Taylor
                                  Woodrow plc

                (and in the United States by Taylor Woodrow plc)

                        for Wilson Connolly Holdings Plc

                       Closure of Mix and Match Facility
For immediate release                                                                             9 October 2003



As previously notified Taylor Woodrow announces that the Mix and Match Facility
closed at 3.00 p.m. on 8 October 2003.  Valid elections for additional New
Taylor Woodrow Ordinary Shares under the Mix and Match Facility have been made
in respect of 78,907,781 Wilson Connolly Ordinary Shares (representing
approximately 37.79 per cent. of the existing issued ordinary share capital of
Wilson Connolly) and valid elections for additional cash have been made in
respect of 13,392,017 Wilson Connolly Ordinary Shares (representing
approximately 6.41 per cent. of the existing issued ordinary share capital of
Wilson Connolly).  Valid elections under the Mix and Match Facility for
additional New Taylor Woodrow Ordinary Shares have been scaled down pro rata but
elections for additional cash will be satisfied in full.

Wilson Connolly Ordinary Shareholders who have made an election to receive
additional New Taylor Woodrow Ordinary Shares under the Mix and Match Facility
will receive:

1.                 if they have also made an election under the Dividend
Election Facility, 0.15407259 New Taylor Woodrow Ordinary Shares and 191.967450
pence in cash;  or

2.                 if they have not made an election under the Dividend Election
Facility, 0.15440872 New Taylor Woodrow Ordinary Shares and 194.890812 pence in
cash,

for each Wilson Connolly Ordinary Share in respect of which they have made such
an election.  In each case this equates to 0.01120436 New Taylor Woodrow
Ordinary Shares and 97.445406 pence in cash per £1 of consideration elected
under the Mix and Match Facility in favour of additional New Taylor Woodrow
Ordinary Shares.  This compares with an entitlement of 200 pence in cash and
0.132 New Taylor Woodrow Ordinary Shares for each Wilson Connolly Ordinary Share
under the basic terms of the Offer.

The Offer, including the Loan Note Alternative and the Dividend Election
Facility, which was extended on 2 October 2003, still remains open until further
notice.

As previously announced, settlement will be effected on or before 16 October
2003 to such Wilson Connolly Ordinary Shareholders who validly accepted the
Offer up to and including 2 October 2003.  Settlement for Wilson Connolly
Ordinary Shareholders who validly accepted the Offer after 2 October 2003 will
be effected within fourteen days of receipt of their valid acceptance.

Terms defined in the Offer Document dated 1 September 2003 shall have the same
meaning in this announcement.

For further information or enquiries, please contact:

Taylor Woodrow

Ian Morris, Corporate Communications

Phone: [phone]

Jonathan Murrin, Investor Relations

Phone [phone]



UBS Investment Bank

Michael Lacey-Solymar

Duncan Williams

Bill Hutchings

Phone: [phone]



HSBC

Charles Packshaw

Nick McCarthy

Clive Rates

Phone: [phone]



Financial Dynamics

Scott Fulton

Peter Otero

Phone: [phone] 7269 7121



The Offer is not being made, directly or indirectly, in or into, or by the use
of mails or any means or instrumentality (including, without limitation,
telephonically or electronically) of interstate or foreign commerce of, or any
facility of a national securities exchange of, any Restricted Jurisdiction.
Accordingly, copies of this announcement are not being, and must not be,
directly or indirectly, mailed or otherwise forwarded, distributed or sent in or
into or from any Restricted Jurisdiction and persons receiving this announcement
(including custodians, nominees and trustees) must not mail or otherwise
forward, distribute or send it in or into or from any Restricted Jurisdiction.
Doing so may render invalid any purported acceptance of the Offer.  The
availability of the Offer to persons who are not resident in the United Kingdom
may be affected by the laws of the relevant jurisdictions.  Persons who are not
resident in the United Kingdom should inform themselves about and observe any
applicable legal or regulatory requirements of their jurisdiction.  Further
details in relation to overseas shareholders are contained in the Offer
Document.

UBS and HSBC (which is regulated in the United Kingdom by the Financial Services
Authority) are acting for Taylor Woodrow and no one else in connection with the
Offer and will not be responsible to anyone other than Taylor Woodrow for
providing the protections afforded to customers of UBS and HSBC nor for giving
advice in relation to the Offer.








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