Director/PDMR Shareholding

Development Securities PLC makes awards under its Performance Share Plan 2006

Development Securities PLC made the following awards on Tuesday 22 March 2011, at nil cost, to the Executive Directors of the Company under its Performance Share Plan 2006 (the "Plan"), which was approved by shareholders at the Annual General Meeting on the 11 May 2006:

Conditional Award of Shares

M H Marx 130,862

C J Barwick 70,883

M S Weiner 70,883

G Prothero 70,883

The vesting of the shares, representing ordinary shares of 50p each in the Company, is conditional on the satisfaction of a performance condition measuring Development Securities PLC's total shareholder return ("TSR") with that of a comparator group selected from within the FTSE Real Estate Investment Trust Index and FTSE Real Estate Investment Services Index during the period from 1 January 2011 to 31 December 2013 There will be sliding scale vesting as follows:

(i) 25 per cent of the award will vest if the Company TSR equals the median TSR of the comparator group;

(ii) 100 per cent of the award will vest if the Company TSR equals or exceeds the 85th percentile TSR of the comparator group;

(iii) Pro rata vesting will apply in between the above points.

In addition the Remuneration Committee must be satisfied that there has been a sustained improvement in the Company's underlying financial performance over the performance period.

These are the sixth awards made under the Plan.

H M Ratsey

Interim Company Secretary

020 7828 4777

4 April 2011