Director Declaration

Town Centre Securities PLC

Director declaration

Town Centre Securities PLC ("TCS"), the Leeds based property investment and development company makes this announcement as required by Listing Rule 9.6.13. The Company notes that, in a matter unrelated to TCS, the U.S. Securities & Exchange Commission ('SEC") has entered into a settlement with, among others, Chris Kelly, the Company's Finance Director. This follows a multi-year investigation by the SEC into a financial restatement by Symmetry Medical Inc. ("Symmetry") which, inter alia, considered the conduct of personnel of Ernst & Young between 2004 and 2007 whilst Mr Kelly was a partner of Ernst & Young LLP.

The SEC investigation considered the financial restatement issued by Symmetry of its 2004 to 2006 accounts arising from fraud committed by senior management of one of its UK subsidiaries. The SEC alleged, among other things, that Ernst & Young's audits of Symmetry's UK subsidiary were not conducted in accordance with applicable auditing standards. As part of the settlement, Mr. Kelly neither admitted nor denied the SEC's findings.  Mr. Kelly may not appear or practice before the SEC for a period of 2 years, after which he may apply for reinstatement. No financial penalty was imposed.

This matter has no impact on Mr Kelly's current role with TCS, who he joined in April 2010. The Board of TCS considers that since joining the company he has demonstrated a strong track record of integrity and performance.

For further information, please contact: