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12th February 2007

Preliminary Results for the year ended 30 November 2006

St. Modwen posts record results for fourteenth successive year.

St. Modwen Properties PLC is a regeneration specialist which focuses on town centre regeneration; partnering industry in its restructuring; brownfield land renewal; and restoring heritage

* Profit before tax increased by 17% to £96.9m (2005: £82.9m)
* Earnings per share up 11% to 61.6p (2005: 55.4p)
* Net assets per share increased by 20% to 323p (2005: 268p)
* Proposed final dividend of 6.8p per share (2005: 5.9p) increasing total dividends for the year by 16% to 10.2p (2005: 8.8p)
* Significant progress in marshalling future major projects

Anthony Glossop, Chairman, comments:

“On the back of our marshalling programme, we move into the present year with a strong, if demanding, target. The present year has started well, but the results will be more second-half orientated than in the past. Overall I would expect it to be a year of continued progress and we remain on track to meet our corporate financial target of doubling net asset value per share every five years. ."
12 February 2006
St. Modwen Properties PLC
Anthony Glossop, Chairman 020 7457 2020
Bill Oliver, Chief Executive
thereafter - 0121 222 9400
Tim Haywood, Finance Director

College Hill
Gareth David 020 7457 2020

A presentation for analysts will be held at 11.00am today at College Hill, 78 Cannon Street, London EC4

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