Statement re: Purchase of shares

DEVELOPMENT SECURITIES PLC - PURCHASE OF SHARES DURING OPEN PERIOD

Development Securities PLC (the "Company") announces that it has instructed Peel Hunt LLP to purchase up to 170,000 ordinary shares in the Company during the open period of the Company arising between the date hereof and 1 July 2012. These share purchases will be made on the Company's behalf and in accordance with the arrangement.

Any share purchases effected pursuant to the arrangement will be subject to the terms of the arrangement with Peel Hunt LLP and in any case will be effected in a manner consistent with both the general authority vested in the Company to repurchase shares and Chapter 12 of the United Kingdom Listing Rules, which require that the maximum price paid be limited to be no more than the higher of (i) 105 per cent of the average middle market closing price of the Company's ordinary shares for the five dealing days preceding the date of purchase and (ii) the higher of the price of the last independent trade and the highest current independent bid on the trading venues where the purchase is carried out.

For further information please contact:

Graham Prothero/Lucy Grimble Development Securities PLC 020 7828 4777