Redemption of 9.5% Debentures

Taylor Woodrow PLC
05 March 2004

Taylor Woodrow announces that it will today be posting notices of redemption of
its 9.5% First Mortgage Debenture Stock 2014 ('the Stock') to the holders of the
Stock.

The Stock will be redeemed on 6th April 2004 and payment of redemption monies
will be made to persons registered as holders of the Stock on 7th March 2004.

The register of stockholders will be closed on 10th March 2004, and dealings in
CREST will cease to be possible in the Stock on the same day. It is the
intention that upon redemption the Stock will be de-listed.


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