Buyback of Shares

Countrywide plc

1 October 2014

Buyback of Shares

Countrywide plc ("Countrywide") announces that, after assessing the near-term capital needs of the business, it has decided to accelerate its capital returns policy as set out on 31 July 2014. As such, Countrywide will today commence a share repurchase programme for up to £20 million. The Board continues to target an ordinary dividend between 35% and 45% of the annual reported Group profits for this financial year after tax but before any amortisation.

Countrywide has entered into an arrangement with Jefferies International Limited ("Jefferies") to enable Jefferies to make purchases of shares during the period commencing on the date hereof and ending on 31 March 2015, including on a discretionary basis during Countrywide's close periods. The objective of the Programme is to reduce the issued share capital of Countrywide and the shares purchased will be held as treasury shares.

The programme will be effected within certain pre-set parameters and in accordance with both Countrywide's general authority to repurchase shares granted by its shareholders at its Annual General Meeting held on 30 April 2014 and Chapter 12 of the Listing Rules, which requires that the maximum price, exclusive of expenses, which may be paid for an ordinary share is the highest of (i) an amount equal to 5% above the average market value for an ordinary share (as derived from the Daily Official Limit of the London Stock Exchange) for the five business days immediately preceding the date of the purchase; and (ii) the higher of the price of the last independent trade and the highest current independent bid on the trading venues where the purchase is carried out at the relevant time.

Given the current shareholding of affiliates of Oaktree Capital Management (UK) LLP ("Oaktree") in Countrywide, a market purchase by Countrywide of its own shares could increase the percentage of voting rights in which Oaktree is interested to more than 30% (but not more than 50%) of Countrywide's voting rights and so technically could trigger a mandatory offer under Rule 9 of the City Code on Takeovers and Mergers. As stated in Countrywide's 2014 AGM Notice, Countrywide would not carry out a market purchase of its own shares having such an effect without prior consultation with the Panel on Takeovers and Mergers and obtaining further shareholder approval.

Countrywide confirms that it currently has no unpublished price sensitive information.

Enquiries:

Jim Clarke, Group Chief Financial Officer

+44(0)7970 477299