SECURED PROPERTY DEVELOPMENTS PLC - Half-yearly Report

London, August 23

During the first half of 2015 two shop properties were sold at Scarborough and one at York. A gain was achieved on these disposals and this is reflected in the exceptional item appearing in the accounts of £159,620.

The turnover for the first half of 2015 is less than the corresponding period last year as a result of the property disposals in the period and the interest charge in the period is also reduced as a result of the company having repaid in full its outstanding loan with RBS.

The Company continues to manage the remaining shop property at Scarborough which is held for future sale.

I wish to thank David Duffield our former Chairman who retired from office on 31st July 2015 for his wise counsel over the years and particularly for his guidance and advice in connection with the RBS Swap Claim.

The outcome of the outstanding claims against RBS for consequential loss and additional tax continues and is taking longer than expected to be settled.

On 29^th July 2015 George Green one of our longest serving directors retired from office and I wish to thank him for his service to the company over the years.