RNS Number:4768C
Taylor Woodrow PLC
01 September 2004


Taylor Woodrow Employee Share Ownership Trust


Taylor Woodrow plc ("the company") has been notified of the transfer on 31 August 2004 of 456
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 7,884,683 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 7,884,683 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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