Directorate Change

22 December 2014

ST. MODWEN PROPERTIES PLC

("St. Modwen" or the "Company")

GROUP FINANCE DIRECTOR

St. Modwen Properties PLC, the UK's leading regeneration specialist, announces that Michael Dunn, Group Finance Director, has agreed with St. Modwen to leave the Company. A search for his successor, which will consider both internal and external candidates, has commenced. Mike will remain with the Company until 31 May 2015, or earlier if mutually agreed, to ensure an orderly transition, and will at that point step down from the Board.

Bill Shannon, Chairman of St. Modwen, commented: "Mike has played an important part in the Company's success since his appointment in 2010 and the Board would like to thank him for his contribution and wishes him well for the future."

Mike Dunn commented: "I am pleased to have helped St. Modwen succeed over the last few years but the time is now right for me to spend more time with my young family. The business is financially strong and well positioned for the future with an excellent team in place and I look forward to its continued progress."

A statement required by section 430(2B) of the Companies Act 2006 will be placed on St. Modwen's website as soon as reasonably practicable following the date on which Mike Dunn ceases to be a director of the Company.

ENQUIRIES:

St. Modwen Properties PLC Tel: 0121 222 9400

Bill Shannon, Chairman www.stmodwen.co.uk

Bill Oliver, Chief Executive

Charlotte McCarthy, Head of PR and Communications

FTI Consulting Tel: 020 3727 1000

Dido Laurimore

Nick Taylor

Ellie Sweeney