Director Declaration

14 May 2014

Development Securities PLC - Decision to appoint new directors

As announced this morning, Richard Upton and Barry Bennett are to be appointed as Executive Director and Non Executive Director respectively of Development Securities PLC, subject to and with effect from completion of the Acquisition of Cathedral Group (Holdings) Limited (as defined in the announcement of earlier today).

In accordance with Listing Rule 9.6.13 the following information is notifiable:

1) details of all directorships held by the director in any other publicly quoted company at any time in the previous five years, indicating whether or not he is still a director;

Richard Upton - Nothing to declare

Barry Bennett - Nothing to declare

2) any unspent convictions in relation to indictable offences;

Richard Upton - Nothing to declare

Barry Bennett - Nothing to declare

3) details of any receiverships, compulsory liquidations, creditors voluntary liquidations, administrations, company voluntary arrangements or any composition or arrangement with its creditors generally or any class of its creditors of any company where the director was an executive director at the time of, or within the 12 months preceding, such events;

Richard Upton - Nothing to declare

Barry Bennett was Managing Director of JOPA 2 Limited (previously McInerney Homes Ltd). A receiver was appointed for this company on 3 September 1991 and the company was dissolved on 18 August 2009.

Barry Bennett was also Managing Director of the following companies, which were subsidiaries of JOPA 2 Limited and entered into creditors' voluntary liquidation:

- McInerney Homes (West) Limited. The company commenced winding up on 14 October 1992 and was dissolved on 13 April 2006;

- McInerney Developments Limited. The company commenced winding up on 28 February 1992 and was dissolved on 8 September 2004; and

- McInerney Construction (UK) Limited. The company commenced winding up on 5 March 1992 and was dissolved on 13 September 1995.

4) details of any compulsory liquidations, administrations or partnership voluntary arrangements of any partnerships where the director was a partner at the time of, or within the 12 months preceding, such events;

Richard Upton - Nothing to declare

Barry Bennett - Nothing to declare

5) details of receiverships of any asset of such person or of a partnership of which the director was a partner at the time of, or within the 12 months preceding, such event; and

Richard Upton - Nothing to declare

Barry Bennett - Nothing to declare

6) details of any public criticisms of the director by statutory or regulatory authorities (including designated professional bodies) and whether the director has ever been disqualified by a court from acting as a director of a company or from acting in the management or conduct of the affairs of any company.

Richard Upton - Nothing to declare

Barry Bennett - Nothing to declare

For further enquiries, please contact

Development Securities Tel: 020 7828 4777

Michael Marx, Chief Executive Officer

Marcus Shepherd, Finance Director

Lucy Grimble, Communications Manager