Wolseley plc Announces ADR Ratio Change

CINCINNATI, June 16  /PRNewswire-FirstCall/ -- Wolseley plc (LSE:WOS) (NYSE:WOS) the world's largest specialist trade distributor of plumbing and heating products to professional contractors and a leading supplier of building materials announces a change in the ratio of its American Depositary Receipts (ADRs) traded on the New York Stock Exchange.

Wolseley first listed its ADRs on the New York Stock Exchange on May 31, 2001, when the ratio of ADRs to ordinary shares was set at one (1) ADR to five (5) ordinary shares.  With effect from February 2, 2004, the ratio was changed to one (1) ADR to two (2) ordinary shares. In order to bring the U.S. share price in line with other ADRs and improve liquidity, the Company will change the ratio from one (1) ADR for every two (2) ordinary shares to one (1) ADR for every one (1) ordinary share.  From the perspective of the ADR holder, the ratio change is roughly analogous to a two (2) for one (1) stock split because Wolseley ADR holders, at the close of business on June 30, 2006, will receive one (1) additional ADR for every ADR held.  There will, however, be no change to Wolseley's ordinary shares.  The ADR distribution date will be July 6, 2006.

Commenting on this change, Charlie Banks, Chief Executive of Wolseley said:  "Today's announcement demonstrates Wolseley's firm commitment to making the Company's shares even more accessible to the broader US investment community.  The change in the ADR ratio should increase volumes of the ADRs traded on the NYSE, creating a more liquid market for our shares in the US. This should enable us to build a larger US ownership base, particularly among individual investors, our associates and smaller firms."

Wolseley released its Interim Results for the six months to January 31, 2006, on March 21, 2006, which can be found on the website at http://www.wolseley.com/.  The Company will release a trading update on July 17, 2006 and will announce its preliminary year-end results to July 31, 2006, on September 25, 2006.

Certain statements included in this announcement may be forward-looking and may involve risks, assumptions and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward- looking statements.  Forward-looking statements include, without limitation, projections relating to results of operations and financial conditions and the Company's plans and objectives for future operations including, without limitation, discussions of the Company's business and financial plans, expected future revenues and the strength of the plumbing and heating and building materials market in North America and Europe, fluctuations in product prices and changes in exchange and interest rates.  All forward-looking statements in this respect are based upon information known to the Company on the date of this announcement.  The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.  It is not reasonably possible to itemize all of the many factors and events that could cause the Company's forward-looking statements to be incorrect or that could otherwise have a material adverse effect on the future operations or results of the Company.

About Wolseley plc

Wolseley plc is the world's largest specialist trade distributor of plumbing and heating products and a leading supplier of building materials to professional contractors in North America, the UK and Continental Europe. Group revenues for the year ended July 31, 2005, were approximately 11.3 billion pounds Sterling and operating profit, before amortization of acquired intangibles, was 708 million pounds. Wolseley has more than 68,000 employees operating in 14 countries namely: UK, USA, France, Canada, Ireland, Italy, The Netherlands, Switzerland, Austria, Czech Republic, Hungary, Belgium, Luxembourg and Denmark. Wolseley is listed on the London and New York Stock Exchanges (LSE:WOSLSE:NYSE:LSE:WOS) and is in the FTSE 100 index of listed companies. 

DATASOURCE: Wolseley plc



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Web site:  http://www.wolseley.com/ 

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