Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Development Securities Plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

X

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to the notification obligation:

Not applicable

4. Full name of shareholder(s) (if different from 3.):

Kempen Best Selection European Property Fund N.V

(previously named Orange European Property Fund N.V.)

5. Date of the transaction and date on which the threshold is crossed or reached:

15 September 2010

6. Date on which issuer notified:

Not applicable

7. Threshold(s) that is/are crossed or reached:

3% downwards

8. Notified details:

A: Voting rights attached to shares

Class/type of shares

if possible using the ISIN CODE

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of Shares

Number of Voting Rights

Number of shares

Number of voting rights

% of voting rights

Direct

Direct

Indirect

Direct

Indirect

Common shares

3693300

3693300

3602389

3602389

2.94%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ Conversion Period

Number of voting rights that may be acquired if the instrument is exercised/ converted.

% of voting rights

Not applicable

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Exercise price

Expiration date

Exercise/ Conversion period

Number of voting rights instrument refers to

% of voting rights

Not applicable

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

3602389

2.94%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:

Please be advised Kempen Capital Management N.V. ('KCM') acts as a director on behalf of Kempen Best Selection European Property Fund N.V. KCM is controlled by Kempen & Co N.V., which is controlled by F. Van Lanschot Bankiers N.V.

Proxy Voting:

10. Name of the proxy holder:

Not applicable

11. Number of voting rights proxy holder will cease to hold:

Not applicable

12. Date on which proxy holder will cease to hold voting rights:

Not applicable

13. Additional information:

Not applicable

14. Contact name:

Not applicable

15. Contact telephone number:

Not applicable