TWOD Taylor Woodrow

RNS Number:8519E
Taylor Woodrow PLC
04 November 2004


Taylor Woodrow Employee Share Ownership Trust


Taylor Woodrow plc ("the company") has been notified of the transfer on 4 November 2004 of 17,071 25p ordinary shares of
the company ("shares") by the Taylor Woodrow Employee Share Ownership Trust ("ESOT").

These shares have been transferred to employees (not executive directors of the company) who validly exercised options 
granted over shares pursuant to the Taylor Woodrow Group Savings-Related Share Option Scheme and the Taylor Woodrow 
Executive Share Option Plan.

The employee interests arising from this transaction are not themselves reportable.

Following this disposal, the ESOT now holds 8,188,361 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 8,188,361 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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