TWOD Taylor Woodrow

RNS Number:9232C
Taylor Woodrow PLC
14 September 2004


Taylor Woodrow Employee Share Ownership Trust


Taylor Woodrow plc ("the company") has been notified of the transfer on 13
September 2004 of 8,082 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 options granted over shares pursuant to the
Taylor Woodrow Executive Bonus Plan.

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

Following this disposal, the ESOT now holds 7,876,601 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 7,876,601 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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