Appointment of New Finance Director

22nd October 2012

Development Securities PLC appoints Finance Director

Development Securities PLC, the leading property development and investment company, announces today the appointment of Marcus Shepherd as Group Finance Director. He will join the business following handover of his current post and will succeed Graham Prothero, who, as previously announced in June 2012, will join Galliford Try plc as Group Finance Director at a date to be advised. A further announcement will be made in due course advising the date when Marcus Shepherd will join the Board.

Marcus Shepherd joins Development Securities PLC from Aviva Investors where he has been Finance Director (Global Real Estate) since January 2009. Previously, he was Chief Financial Officer (Europe) for Valad Property Group (2007-2009), having joined via the acquisition of Teesland PLC where he was Group Finance Director. Marcus is a member of the Institute of Chartered Accountants in England and Wales and holds a BSc in Mathematics from Imperial College.

Michael Marx, Chief Executive, Development Securities PLC commented:

"I am delighted that Marcus is joining us as Group Finance Director. Marcus brings considerable financial experience in the property and investment management industries as well as relevant experience within the quoted real estate sector."

For further information, please contact:Michael Marx, Chief Executive Officer

Lucy Grimble, Communications Manager

Development Securities PLC

+44 (0)20 7828 4777