Directorate Change

St. Modwen Properties PLC

ST. MODWEN APPOINTS BILL SHANNON AS CHAIRMAN DESIGNATE

St. Modwen, the UK's leading regeneration specialist, announces the appointment of Bill Shannon as a Non-Executive Director and Chairman Designate with effect from 1st November 2010.

Bill Shannon, who is currently Chairman at AEGON UK plc (formerly Scottish Equitable), which he joined in 1997 as a non-executive Director, before becoming Chairman in 2005, had a 30-year career at Whitbread plc. During his time at Whitbread, he was Divisional Managing Director of three major divisions between 1994 and 2004 and a main board Director for 10 years.

Currently, in addition to his Chairmanship of AEGON UK plc, he is a non-executive Director of Johnson Service Group plc, Rank Group plc and Barratt Developments plc (from where he will be resigning at their next Board meeting). Previously he has held non-executive director positions at Matalan plc and at several private companies.

It is intended that following the conclusion of the Company's AGM in March 2011, he will succeed Anthony Glossop, the current Chairman, who is stepping down after nearly 40 years of service. The appointment followed an extensive search process led by Ian Menzies-Gow, Senior Independent Director, and supported by The Zygos Partnership.

Anthony Glossop, Chairman of St. Modwen comments:

"I am delighted to welcome Bill to the Board and as my successor, he brings with him extensive management experience across a range of publicly listed and private companies. His long and successful career at Whitbread, where he managed a vast property portfolio and his time at Barratt Developments, provide him with an excellent grounding as Chairman of St. Modwen. I am confident that he will be a huge asset to the Company."

Of his appointment, Bill Shannon says: "As the UK's leading regeneration specialist, St. Modwen is hugely respected in the property industry and I am delighted to be invited to become Chairman of the Board. I look forward to the challenges ahead and working with the Board to guide the company's future success."

21st October 2010

ENQUIRIES: