MARCEL Seip has signed an extension to his contract that will keep him at Home Park until 2011.
The Dutch defender's current deal was due to expire in the summer of 2009 but he has agreed a new and improved two-and-a-half year deal with the Pilgrims.
The move represents a massive turnaround in the fortunes of Seip, who was transfer-listed by manager Paul Sturrock after a dressing room disagreement in April.
Luggy said: "Marcel has signed a new contract with the club and everybody is very pleased.
"His standard of performance this season has been excellent and you don't want to lose that type of player.
"He wanted to stay here and we are very pleased everything has worked out.
"Last year, the scenario at the end of the season didn't really help things but he has come to the show.
"He has worked very hard at his game and his partnership with [Craig] Cathcart has been excellent.
"He has adapted to the whole scenario and, if you were look back on the last eight games, he would be one of your top three performers."
Seip started life with the Greens in September 2006 after being released by Dutch side Heerenveen.
He made his debut as a right-back against Southampton but has since established himself as arguably the first choice central defender in the Argyle squad.
He has made 97 appearances for the Pilgrims, scoring five goals.
Next on Luggy's list for contract renewals is Kiwi striker Rory Fallon.
"This is a start and it is vitally important [to get contracts sorted out]," he said.
"I am now having a chat with Rory and we are in negotiations with him and his agent.
"Rory has been very important as well and we want to sort something out with him very quickly. We will then look down the list at the other players."