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St Modwen Properties PLC Change of Finance Director

St Modwen Properties PLC, the Birmingham based property development and investment company which specialises in brownfield land and regeneration projects, announced today that finance director, Paul Doona, (47) will be leaving the Company by mutual agreement on 26 November 1999, enabling him to take up the position of finance director at Claims Direct Limited, the personal injury claims company with immediate effect.

Paul Doona has been at St Modwen for 12 years. The process of appointing a successor is well under way and an appointment is expected to be announced shortly. Anthony Glossop, Deputy Chairman and Chief Executive of St Modwen commenting on the change, said:

“Paul has been a valued member of the St Modwen management team and we wish him every success in his new position.”

“St Modwen has been growing rapidly and there are many opportunities facing us. We are well advanced in the process of appointing a new finance director who will bring additional skills to the St Modwen management team and enable us to achieve our ambitious targets.”