ST. MODWEN PROPERTIES PLC LAUNCHES 6.25% RETAIL BOND DUE 2019

St. Modwen Properties PLC, the UK's leading regeneration specialist and constituent of the FTSE250 index, has today launched 6.25% Sterling Bonds due 2019 (the "Bonds"), available to retail investors.

St. Modwen has a UK property portfolio which is valued at £1.1 billion, comprises 5,800 acres and is split into income-producing investments, residential land and commercial land and development. St. Modwen has a 25 year track record of adding value to its landbank by managing schemes through the planning process, remediating contaminated land and active asset management.

Bill Oliver, Chief Executive, St. Modwen Properties PLC, commented:
"We are delighted to announce the launch of St. Modwen's first retail bond. With significant headroom on our existing debt facilities, the retail bond will provide St. Modwen with more diversity in its funding sources, without increasing our gearing."

The Bonds will pay a fixed rate of interest of 6.25% per annum, payable twice yearly on 7 May and 7 November of each year with the first coupon payment being made on 7 May 2013 and the Bonds maturing on 7 November 2019. At any time during the life of the Bond, investors are permitted to sell the Bonds (within market hours and in normal market conditions) on the open market through their stockbroker.

Investec Bank plc and Numis Securities Limited will act as Joint Lead Managers on this issue.

The Bonds have a minimum initial subscription amount of £2,000 and in multiples of £100 thereafter. The offer period will open on 17 October 2012 and is expected to close at noon on 31 October 2012. St. Modwen retains the right to close the offer early, in conjunction with the Joint Lead Managers.

The Bonds are expected to be listed on the UK Listing Authority's Official List and admitted to trading on the London Stock Exchange's regulated market and through the electronic Order Book for Retail Bonds.

The Authorised Distributors are:

• Barclays Stockbrokers Limited
• Brewin Dolphin Limited (trading as Stocktrade)
• Killik & Co LLP
• Peel Hunt LLP
• Redmayne-Bentley LLP
• Talos Securities Limited (trading as Selftrade)
• NCL Investments Limited (trading as Smith and Williamson Securities)
• WH Ireland Limited
  

For further information, please visit www.stmodwen.co.uk/bonds.