UNAUDITED RESULTS FOR THE PERIOD TO 30TH JUNE 2008

SECURED PROPERTY DEVELOPMENTS PLC

            Rowlandson House 289/293 Ballards Lane London N12 8NP



              UNAUDITED Results for the period to 30th June 2008

The unaudited results for the six months to 30th June 2008 can be compared
with those for the same period in 2007 and for the year 2007 as follows:-


                             6 months ended 6 months ended    Year ended
                             30th June 2008 30th June 2007 31st December 2007
                                  GBP            GBP              GBP

                                                              
TURNOVER                         76036          214798          290929
Cost of Sales
GROSS PROFIT                     76036          214798          290929
Administrative expenses         (96310)        (32220)          (64213)
OPERATING (LOSS)/PROFIT FROM
CONTINUING OPERATIONS           (20274)         182578          226716
Interest received                 6074           1394            2995
Interest Paid                   (32644)        (32894)          (70189)
(LOSS)/PROFIT ON ORDINARY       (46844)         151078          159522
ACTIVITIES BEFORE TAXATION
Taxation                           -           (16600)          (19139)
(LOSS)/PROFIT AFTER TAXATION    (46844)         134478          140383
(Loss)/Earnings per share       (2.38)p         6.82p            7.12p


The loss for the period of £46,844 (2007 £134,478 profit) can be attributed to
two major factors. Firstly in 2008 the Group has not had the benefit of any
project loan interest which in 2007amounted to £139,789 and secondly as
mentioned below significant costs relating to the raising of new finance were
incurred during the period.

We completed the raising of £1,500,000 new finance on 3rd June of this year.
The money raised is five year money at a fixed rate of 6.92%. This has enabled
us to repay loans of £964,080 which fell due during the period. It leaves us
with funds for further investment of in excess of £500,000 which will enable
us to take advantage of the current distressed market in which we are
operating and where unusually good investment opportunities may well arise.

The cost of raising the new money including commitment and professional fees
has had a major adverse impact on the results for the first half of the year.
However, we are of the view that the strategy which we have adopted to raise
funds will be likely to bear fruit in the medium term.

Philip Cottam

Chairman

26 September 2008


                             Company No. 2055395
                         Registered office: as above