TWOD Taylor Woodrow

RNS Number:7397A
Taylor Woodrow PLC
12 July 2004



Taylor Woodrow Employee Share Ownership Trust

Taylor Woodrow plc ("the company") has been notified of the transfer on 12 July 
2004 of 253 25p ordinary shares of the company ("shares") by the Taylor Woodrow 
Employee Share Ownership

Trust ("ESOT").

These shares have been transferred to an employee (not an executive director of 
the company) who validly exercised an option granted over shares pursuant to the 
Taylor Woodrow Group Savings-

Related Share Option Plan 2003.

The employee interest arising from this transaction is not itself reportable.

Following this disposal, the ESOT now holds 7,902,570 shares.

Each of the executive directors of the company is a potential beneficiary under
the ESOT and therefore, in accordance with section 329 Companies Act 1985, is 
regarded as having a notional interest in the ESOT holding of 7,902,823 shares.

Despite having this notional interest, each executive director will only be 
entitled to receive shares from the ESOT in satisfaction of options granted to 
him pursuant to the company's share option plans as previously disclosed.


Richard Morbey
Group Company Secretary


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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