Doc re. Application for admission

16 May 2014

Application for admission

Further to the announcement on 14 May 2014 in relation to the acquisition of Cathedral Group (Holdings) Limited together with certain other entities forming part of its related business (the "Acquisition"), application has been made for the admission of 2,575,116 Ordinary Shares of 50 pence each, being the Consideration Shares due to be issued in relation to the Acquisition, to the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange's main market for listed securities ("Admission"). It is expected that Admission will become effective at 08:00 am on Monday 19 May 2014.

Following Admission, in accordance with its obligations under rule 5.6.1 of the Disclosure and Transparency Rules, Development Securities PLC confirms that its issued share capital to which votes apply will consist of 124,927,620 Ordinary Shares of 50 pence each. The total number of voting rights in respect of these ordinary shares is 124,927,620 each ordinary share having one vote.

Development Securities PLC holds 118,792 Ordinary Shares in treasury. The voting rights on the Ordinary Shares held in treasury have been waived.

The Ordinary Shares are admitted to the Official List of the United Kingdom Listing Authority and to trading on the London Stock Exchange's main market for listed securities. Excluding the shares held in treasury, there will be 124,808,828 Ordinary Shares. This figure should be used by ordinary shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in, Development Securities PLC under the FCA's Disclosure and Transparency Rules.

For further information, please contact:

Helen Ratsey, Company Secretary, Development Securities PLC 020 7828 4777