Statement re: change to Board

Development Securities PLC today announces that Graham Prothero, Finance Director, will be leaving the Group and joining Galliford Try PLC, the housing and construction group. Graham will continue in his current role in order to ensure a smooth transition on the appointment of his successor. A further announcement will be made in due course regarding the appointment of a successor and the timing of Graham's departure in the event that such successor is appointed prior to June 2013, being the expiry of Graham's contractual terms.

For further enquiries:

Michael Marx/Lucy Grimble 020 7828 4777