Savills plc - Investor relations

RICHARD JEWSONSTATEMENTbeing branded as "Trammell Crow Company". Through our alliance we areable to offer a full range of services in Europe to their USA clients, and viceversa.In Europe we purchased the remaining 47% of FPDSavills ImmobilienBeteiligungs-GmbH, increased our holding in our Dutch operation from 40%to 61% and continued to build the scale of our offices in financial centresthroughout Europe. We remain committed to growth by recruitment.In Asia and Australia we continue to make progress, and are particularlypleased that our Chinese offices are now profitable.At the Annual General Meeting (AGM) held on 7 May 2003 shareholders gaveauthority for a limited purchase of Savills shares for cancellation of up to 5%of the issued share capital. During the year ended 31 December 2003,2,130,000 shares were repurchased for cancellation under this programme.As announced on 30 December 2003, the Company undertook an irrevocable,non-discretionary programme to re-purchase its own shares during theclose period. During this period the Company bought 100,000 shares forcancellation. The Company may make further purchases of shares under thisauthority in the open period up to the AGM to be held on 5 May 2004.at the end of 2003 and accordingly resigned as a Director of Savills plc on30 June 2003. I would like to thank him for his contribution to the Group.Savills has a committed and talented staff whose ability to add value to ourclients is the basis for the excellent results. Several key new appointmentshave been made, broadening and strengthening the range of the servicesthat we offer to clients. Our reward system enables us to attract andretain outstanding people and has proved a real incentive, whilst providingshareholders with increased earnings and dividends.OutlookConfidence in investment markets remains strong, as does activity in theprime residential market in the UK. If economies throughout the worldcontinue to recover as generally expected, we believe that the Company iswell placed to take advantage of the opportunities that will emerge.Board and StaffAs announced at the time of our Trading Update in June 2003, David Wong,Chief Executive of FPDSavills Asia Pacific Limited, retired from the CompanyRichard Jewson, Chairman9