Development Securities PLC (DSC.LN), the property developer, Thursday announced that it has signed an agreement with Morrisons for the pre-lease of an 80,000 sq ft food store, subject to planning, at its 7 acre mixed use redevelopment site at 399 Edgware Road, North West London.

MAIN FACTS:

-Development Securities is currently preparing a revised planning application to be submitted later this year for a scheme now to be anchored by Morrisons and which will include new Asian retail space and residential apartments, including affordable housing.

-399 Edgware Road is the former site of Oriental City, an Asian retail and food centre.

-The site was purchased by Development Securities in 2005.

-Shares at 0945 GMT down 1.5% at GBP1.7 valuing the company at GBP206 million.

-By Jana Weigand, Dow Jones Newswires; 44-20-7842-9314; jana.weigand@dowjones.com

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