Development Securities PLC acquires MEN arena

16 June 2010

Development Securities PLC acquires MEN Arena

Development Securities PLC, the leading property development and investment company, today announces it has acquired the Manchester Evening News Arena for £62.2 million, with a net initial yield of 7.15%. The complex offers various asset management opportunities which the company hopes to exploit over the next three years.

The purchase is part-funded by a bi-lateral loan from Lloyds Banking Group, which also provided hedging arrangements.

The Arena is the largest indoor venue in Europe attracting over 1 million visitors a year. It was sold by Capital & Regional plc together with its joint venture partner.

For further information, please contact:

Matthew Weiner/Graham Prothero Development Securities PLC Tel: 020 7828 4777 Mallika Basu/Lucy Grimble The Communication Group Tel: 020 7630 1411