TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are
attached: ii

St. Modwen Properties PLC

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

X

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify): We refer to our letter of 25 November 2009 

X

3. Full name of person(s) subject to the
notification obligation: iii

Not Applicable 

4. Full name of shareholder(s) 
 (if different from 3.):iv

Orange European Property Fund N.V.

5. Date of the transaction and date on
which the threshold is crossed or
reached: v

25 November 2009 

Please take our corresponding letter of 25 November 209 into account 

6. Date on which issuer notified:

Please take our corresponding letter of 25 November 209 into account

7. Threshold(s) that is/are crossed or
reached: vi, vii

4%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of
shares

if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

Common Shares GB007291015

We refer to our letter of 25 November 2009 

We refer to our letter of 25 November 2009

8,280,151

8,280,151

4.13%

4.13%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date xiii

Exercise/ 
Conversion Period xiv

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights

Not Applicable 

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date xvii

Exercise/
Conversion period xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Not Applicable

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

8,280,151

4.13%

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: xxi

Orange European Property Fund N.V. is an investment fund of Kempen Capital Management N.V. 

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will cease
to hold:

N/A

12. Date on which proxy holder will cease to hold
voting rights:

N/A

13. Additional information:

N/A

14. Contact name:

N/A

15. Contact telephone number:

N/A

Annex: Notification of major interests in shares xxii

A: Identity of the persons or legal entity subject to the notification obligation 

Full Name

(including legal from of legal entities)

Orange European Property Fund N.V. 

Orange European Property Fund N.V. is an investment fund of Kempen Capital Management N.V.

Contact address

(registered office for legal entities)

Beethovenstraat 300,1077 WZ Amsterdam

The Netherlands 

Phone number &email

+31 20 349 8915

Other useful information

(at least legal representative for legal persons)

B: Identity of the notifer,if applicable 

Full name 

Anne Rijper and Marion Van Iperen

(product Management)

Contact address

Beethovenstraat 300,1077 WZ Amsterdam

The Netherlands

Phone number &email

+31 20 349 8915

Other useful information

(e.g. functional relationship with the person or legal entity subject to the notification obligation)

C:Additonal Information 

Please Take our corresponding letter of 25 November 2009 into account