1. GEORGE WIMPEY PLC 1

2. 2 2000 Interim Results

3. GEORGE WIMPEY PLC 3 2000 1st half results

4. GEORGE WIMPEY PLC 4

5. 5 First half results Underlying Operating Profit up 57% to £58.6m UK Operating profits up 72% UK Operating margins up 3.5% to 10.2% Underlying Profit before tax up 67% to £48.0m Interim Dividend up 15% - covered 3.7 times

6. GEORGE WIMPEY PLC 6 First half results No exceptional profits Interest cover of 5.5 times Tax rate 24%

7. GEORGE WIMPEY PLC 7 First half cash flow Cash outflow of £146m (1999: £112m) End June gearing unchanged at 55% Land spend up 46% to £272m Unchanged working capital Targeting 35 - 40% year-end gearing

8. GEORGE WIMPEY PLC 8 Balance sheet Over last 12 months: Net debt up £46m to £334m Shareholders funds up £81m to £611m Return on Equity 17.0% Net Assets up 22p to 166p

9. GEORGE WIMPEY PLC 9 Housing revenue

10. GEORGE WIMPEY PLC 10 Operating profits

11. GEORGE WIMPEY PLC 11 Wimpey Homes Average size +6% - Detached 30% Average selling price £97,000 +21% Current selling price £108,000 Gross and Operating margins +3.1% End June sales proceeding £+18%

12. GEORGE WIMPEY PLC 12 McLean Homes Average size +3% - More detached Average selling price +17% to £120,000 Gross margins up 2% Operating margins +3.8% End June sales proceeding £+1%

13. GEORGE WIMPEY PLC 13 Morrison Homes Important corporate activity Average size up 8% to 2400 sq. ft. Average selling price +19% to $224,000 Current selling price over $230,000 End June sales proceeding $+26%

14. GEORGE WIMPEY PLC 14 Land

15. GEORGE WIMPEY PLC 15 Financial summary Excellent first half - PBT +72% Significant improvement in UK margins Sizeable land spend to lengthen land banks Strong interest and dividend cover Very good second half in prospect

16. GEORGE WIMPEY PLC 16 GEORGE WIMPEY PLC

17. 17 Key Strategy Drive E.P.S. by:- 50% UK Revenue Growth 100% USA Revenue Growth Group Operating Margin of 10% by 2003

18. GEORGE WIMPEY PLC 18 Key Strategy Drive E.P.S. by:- 50% UK Revenue Growth –Target Growth=8.5% pa. –Growth Year 1=13% –Growth 1st Half Year 2=13% 100% USA Revenue Growth –Target Growth=15% pa. –Growth Year 1=18% –Growth 1st Half Year 2=17% On course to achieve Group Operating Margin of 10% by 2003

19. GEORGE WIMPEY PLC 19 UK Market Status Slowdown needed - Affordability Slowdown commenced second quarter Gross Margin holding Temporary correction? Strong fundamentals

20. GEORGE WIMPEY PLC 20 USA Market Status USA market slowed as expected Not worsening Gross Margin holding Overall satisfactory market

21. GEORGE WIMPEY PLC 21 Progress on declared goals For Wimpey: 10% operating margin - achieved early £1000 cost reduction - achieved CWP implementation - achieved Raise %age detached - on target For Morrison: Develop expansion programme whilst retaining acceptable returns - on target with the acquisition of Southlife and the disposal of SE Florida

22. GEORGE WIMPEY PLC 22 Initiatives going forward Renewed impetus on build cost reduction Development of IT –B2C –B2B Fully manufactured housing PPG 3

23. GEORGE WIMPEY PLC 23 Long Term Land

24. GEORGE WIMPEY PLC 24 Land Long Term Land On track to deliver 20% of completions Committed to deliver 1/3 of completions Short Term Land Adequate short term land banks Brownfield sites increasing Land prices stabilising

25. GEORGE WIMPEY PLC 25 Status to Sunday 3rd September 2000

26. GEORGE WIMPEY PLC 26 Summary & Outlook 2000 First half of real progress Strong improvement in UK margin Land spend up 50% Further progress on long term land Market slowing but 2000 will be strong Second year in row we will beat targets Major step towards our 2003 goal of 10% Group Operating Margins

27. GEORGE WIMPEY PLC 27 Summary & Outlook Outlook Market slowdown expected to be soft Fundamentals sound IT Fully manufactured housing Opportunities of PPG 3

28. GEORGE WIMPEY PLC 28 GEORGE WIMPEY PLC

29. 29 Stu Cline President of Morrison Homes

30. GEORGE WIMPEY PLC

31. 31 Vision Statement “To be the best U.S. Homebuilder as measured by our customers, employees, shareholders and business partners”

32. GEORGE WIMPEY PLC 32 History

33. GEORGE WIMPEY PLC 33 Morrison Homes Markets Current Markets Atlanta Austin Dallas/Ft. Worth East Bay Area Houston Jacksonville Orlando Phoenix Sacramento San Antonio San Joaquin Valley Sarasota Tampa

34. GEORGE WIMPEY PLC Atlanta, GA

35. GEORGE WIMPEY PLC Orlando, FL

36. GEORGE WIMPEY PLC Celebration,FL

37. GEORGE WIMPEY PLC Tampa, FL

38. GEORGE WIMPEY PLC Houston, TX

39. GEORGE WIMPEY PLC Houston, TX

40. GEORGE WIMPEY PLC Austin, TX

41. GEORGE WIMPEY PLC Austin, TX

42. GEORGE WIMPEY PLC Dallas, TX

43. GEORGE WIMPEY PLC Phoenix, AZ

44. GEORGE WIMPEY PLC Phoenix, AZ

45. GEORGE WIMPEY PLC Sacramento, CA

46. GEORGE WIMPEY PLC Sacramento, CA

47. GEORGE WIMPEY PLC 47 Competition (1999)

48. GEORGE WIMPEY PLC Branding

49. GEORGE WIMPEY PLC Branding

50. GEORGE WIMPEY PLC Branding

51. GEORGE WIMPEY PLC 51 Land Bank

52. GEORGE WIMPEY PLC 52 Management Employees - 531 Key Positions –Regional Sr. Vice President –Division President –Skill set People Land Leadership Style –Team approach - Multi-discipline –Participative Changing skills in the future –Competency with the Web and Internet - all disciplines –Process focus

53. GEORGE WIMPEY PLC 53 US Market

54. GEORGE WIMPEY PLC 54 US Market

55. GEORGE WIMPEY PLC 55 Morrison Markets The top 6 job growth states in 1999 were: #1 California408,4003.0% #2 Florida284,0004.1% #3 Texas219,3002.4% #4 New York173,4002.1% #5 Georgia160,0004.2% #6 Arizona100,9004.7% U.S. Average Job Growth Rate : 2.2% Morrison Homes markets represented 223,402 or 16.8% of the total U.S. permit activity in 1999 Five of Morrison’s markets are in the top 10 U.S. markets Annual Rate Net Job Growth

56. GEORGE WIMPEY PLC 56 Future Continue to profitably grow revenues by 15 - 20% per year 2003 Milestone: –$1.0 Billion Revenues –4,500 closings (legals) –Top 20 Builder ranking Expand to one new market per year Utilise Internet and Web-based technology

57. GEORGE WIMPEY PLC

58. 58 GEORGE WIMPEY PLC