Change of Directors

RNS Number:5427E
DEV Property Development PLC
26 September 2007


                          Dev Property Development plc


                              Change of Directors


Dev Property Development plc, (the "Company"), a company investing in Indian
real estate, today announces that Sameer Gehlaut, a Non-Executive Director,
wishes to resign from the Board with immediate effect. The Board would like to
thank Sameer for his contribution to the Company since inception.


The company also wishes to announce the appointment of Tarun Tyagi to the Board
of the Company as a Non-Executive Director.


Tarun Tyagi, aged 34, is the Chief Financial Officer of Indiabulls Real Estate
Limited.  He holds a degree from the Indian Institute of Technology, Delhi, and
has graduate degrees from Columbia University and University of Illinois at
Urbana-Champaign.  Previously, he worked with Credit Suisse in New York where he
traded fixed income derivatives in residential mortgage, commercial mortgage and
asset backed securities.  He has also worked for Goldman Sachs in New York where
he provided strategic investment advice to institutional clients such as pension
funds, foundations and endowments. Tarun Tyagi, holds or has held the following
directorships over the previous five years:-

SN      Name of the Company                 Whether Mr. Tarun
                                            Tyagi is still a
                                            Director
1       Indiabulls Properties Private       Yes
        Limited
2       Sepset Real Estate Limited          No
3       Apesh Properties Limited            No
4       Citra Real Estate Limited           No
5       Sepset Properties Limited           No
6       Sepset Constructions  Limited       No
7       Varali Constructions  Limited       No
8       Varali Real Estate Limited          No
9       Varali Properties Limited           No
10      Apesh Real Estate Limited           No
11      Apesh Constructions Limited         No
12      Citra Properties Limited            No


Rishi Khosla, Chairman of Dev Property Development plc, said: "We are excited to
have Tarun Tyagi join the board of Dev Property Development. He has extensive
knowledge of the company's developments and the Indian real estate market. This,
combined with his academic and professional background, will be an asset to the
company."


There are no further disclosures to be made in relation to Tarun Tyagi under
schedule 2(g) of the AIM Rules for Companies.


For further information, please contact:


Anne Couper Woods
Company Secretary
Dev Property Development plc
Top Floor
14 Athol Street
Douglas
Isle of Man IM1 1JA



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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