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Notification of Major Interest in Shares

Following these disposals, the Clarke Family (excluding Simon Clarke) will hold 19,962,539 Ordinary Shares representing 9.96 per cent. of the Company’s issued share capital, and the Leavesley Family will hold 18,263,382 Ordinary Shares representing 9.1 per cent. of the Company’s issued share capital.

As part of the disposal, Simon Clarke, a Non-Executive Director of the Company, has sold 1,500,000 Ordinary Shares at the same price. Following this sale he will hold 4,612,657 Ordinary Shares representing 2.3 per cent. of the Company’s issued share capital.

Those members of the Clarke Family and Leavesley Family who have sold Ordinary Shares have agreed not to sell any further Ordinary Shares for a period of 180 days without the prior written consent of J.P. Morgan Cazenove and Numis Securities Limited.

St. Modwen Properties PLC (“St. Modwen” or the “Company”) announces that it has been notified that an aggregate of 6,280,000 existing ordinary shares of 10 pence each in the Company (“Ordinary Shares”) has today been sold by certain members of the Clarke family (the “Clarke Family”) and a member of the Leavesley family (the “Leavesley Family”) at a price of 165 pence per share.

The Ordinary Shares in aggregate amount to approximately 3.1 per cent. of the issued share capital of the Company.