Notification of Major Interest in Shares

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE

UNITED STATES, CANADA, AUSTRALIA OR JAPAN

St Modwen Properties PLC

Notification of Major Interest in Shares

St Modwen Properties PLC ("St. Modwen" or the "Company") announces that it has been notified that an aggregate of 4,000,000 existing ordinary shares of 10 pence each in the Company ("Ordinary Shares") have today been sold by certain members of the Clarke family (the "Family") at a price of 161 pence per share. The Ordinary Shares amount to approximately 2.0 per cent. of the issued share capital of the Company.

Following this disposal, the Family (excluding Simon Clarke) will hold 24,462,539 Ordinary Shares representing 12.2 per cent. of the Company's issued share capital.

As part of the disposal, Simon Clarke, a Non-Executive Director of the Company, has sold 1,000,000 Ordinary Shares at the same price. Following this sale he will have a holding of 6,112,657 Ordinary Shares representing 3.0 per cent. of the Company's issued share capital.

Those members of the Family disposing shares have agreed not to sell any further Ordinary Shares for a period of 180 days without the prior written consent of J.P. Morgan Cazenove and Numis Securities Limited.

28 October 2010

Enquiries:

St. Modwen Properties PLC 0121 222 9400

Bill Oliver, Chief Executive

Tim Haywood, Finance Director

J.P. Morgan Cazenove 020 7588 2828 

Robert Fowlds

Barry Meyers

Numis Securities Limited 020 7260 1000

Heraclis Economides

Ben Stoop