TWOD Taylor Woodrow

RNS No 6320h
TAYLOR WOODROW PLC
4th December 1998


TAYLOR WOODROW ACQUIRES NICHE CANADIAN HOUSEBUILDER

Taylor Woodrow's Canadian subsidiary Monarch Development 
Corporation, has acquired a niche Ontario housebuilder, 
Sandbury Homes, for a nominal sum. In return for assuming 
Sandbury's liabilities, Monarch will take control of its 
assets, including a C$1.2 million development in Ottawa and 
a contract to purchase a seven acre site in Newmarket, with 
estimated revenues of C$13 million. 

Backed by Monarch's financial and technical resources 
Sandbury will continue to operate under its present 
management. It will specialise in developing modest sized 
projects, whereas Monarch's low-rise residential focus has 
recently been on large master planned communities.  
   
Taylor Woodrow chief executive Keith Egerton commented, 
"Whilst the acquisition is nominal in monetary value, the 
benefit for the business is significant, in that it will 
allow us to expand our operation in the Ontario market 
under a very well recognised brand name. It is an excellent 
match for us, as both companies are known for building 
superior homes, providing excellent after-sales service and 
delivering good value."

Media enquiries
Tom MacQuillan
Taylor Woodrow plc
0181 575 4175 / Mobile 0836 598522

Notes to editors

1. Monarch Development Corporation is one of Canada's 
oldest public real estate companies and last year marked 
its 80th anniversary. The company is primarily 
engaged in land development and new home construction in 
Ontario, Quebec, Florida, California, Georgia and Texas. It 
is also engaged in the development, construction and 
management of industrial, retail and office buildings in 
Ontario.

2.  Sandbury Homes has been recognised as highly 
entrepreneurial and innovative though the years. In the 
late 1970s it became one of the first volume builders in 
Ontario to pre-sell homes, now common practice in the 
Canadian housing industry.


END

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