Exeter have confirmed they have rejected a bid from Norwich for highly-rated defender Dan Seaborne.
As revealed by skysports.com earlier on Wednesday, Norwich made an offer to sign the 22-year-old on loan until January with a view to a permanent move.
However, Exeter have turned down the approach for the talented left-back, describing the bid as 'derisory'.
"We know at some point that Dan Seaborne is good enough to go higher in the games and we don't wish to stand in his way but the time for that to happen is not now and especially not for such a derisory amount," Grecians director of football, Steve Perryman told the club's official website.
Norwich boss Paul Lambert is thought to be a big admirer of Seaborne and it remains to be seen if he will make a new offer for the player.