Property Industry has Critical Role in Improving Well-being in Britain

LONDON, March 24, 2010 - A new report launched today, Building Quality of Life,
commissioned by Development Securities PLC, one of the UK's leading property
companies, reveals the huge pressures on our general happiness and well-being
and the key contribution that the property industry can make to improving
quality of life in Britain.

The research, conducted by University College London and built
environment consultants BRE on behalf of Development Securities, reveals:

    - Well-being of employees appears to be very low down on
      companies' priorities
    - Green buildings are not always better for occupants
    - "Tyranny" of one-size-fits-all open plan offices sometimes
      badly fails occupants
    - UK is lagging behind Europe in well-being welfare

The UK's long working hours and service economy means we spend
most of our time indoors. The report argues that we can no longer afford to
ignore the economic and social implications of bad buildings on our quality
of life. According to experts cited in the report, poorly planned spaces
could result in up to a 20% drop in our productivity and lead to a range of
health and behavioral problems.

The report strengthens new thinking from leading political and
academic figures into the concept of "happiness economics": the idea that
happiness and well-being need to be key factors in measures of a country's
economic and social process. Looking at the UK, the report argues that there
is a widespread reluctance among companies to invest in improvements to
working conditions, and as a result occupants' well-being suffers. The
paradox is that employers are prepared to invest in employing people, but
seemingly not in their social well-being.

In addition, once-lauded open-plan offices may make people
feel anxious, distracted, and tense. BRE's survey for the report of 20,000
professionals uncovered a number of issues with such layouts including
unsatisfactory temperatures (55%), lack of privacy (56%) and the amount of
quiet space provided (60%).

To counter the worrying issues and trends identified, the
report's main recommendations are that we:

    - Shift the main focus from new buildings to existing stock:
      some 80% of the buildings that will be still standing in 2025 already
      exist
    - Give tax breaks on refurbishments and redevelopments made to
      old buildings rather than just the new ones
    - Eliminate productivity killers, such as uncomfortably high
      temperatures and poor ventilation
    - Measure people's "quality of life" and happiness at work
    - Ask building occupants about their working environments and
      keep on asking them

Michael Marx, Chief Executive of Development Securities PLC,
said:

"All of us - Government, planners, architects and property
developers - need to think more critically about the environments and
workspaces that we create. Otherwise there is a risk that with current
building and design trends, we could see a return to near-Dickensian working
environments where people are packed like battery hens into spaces that they
don't like and can't control. Employers and property industry players have to
recognise these challenges and mitigate these risks."

The Building Quality of Life report is available to download on
ww7.investorrelations.co.uk/devsec/research.jsp under Contacts and
Research.

Contact: Mallika Basu, The Communication Group, +44(0)20-7630-1411,
mbasu at thecommunicationgroup.co.uk