Police are continuing their search for a man believed to be connected with the murder in Leamington on Wednesday.
Today Warwickshire Police issued an update about the stabbing incident which happened in Tachbrook Road.
A 17-year-old boy, was pronounced dead at the scene.
The second victim, an 18-year-old male, remains in hospital in a stable condition. His injuries are not believed to be life threatening or life changing.
In the statement it said that police were continuing their search for a man who may be connected to the incident who was last seen in Emscote Road in Warwick.
In a statement Chief Superintendent Ben Smith from Warwickshire Police said: “We recognise that this incident will have shocked the community of Leamington and I would like to reassure the public that we will do everything in our power to bring those responsible to justice.
“While a further arrest has been made, we are still trying to identify another man in connection with this incident who was last seen on Emscote Road close to the junction with Fosberry Close in Warwick at around 11.30am yesterday morning.
“He is described as a young black male and is believed to have sustained an injury to his leg. If you think you may have seen this man please call us on 101.
“We continue to appeal for witnesses and would really like to speak to anyone who may have witnessed the incident, has CCTV or dash cam footage of the area at around the time of the incident, or may have seen something suspicious.
“Any information you might have, no matter how small or insignificant it may seem, could be vital to our investigation so I would urge you to get in touch.
"We will remain in the area over the coming days to conduct enquiries and provide reassurance, and if anyone has any concerns please do speak with an officer."
Police have arrested a 17-year-old boy from Coventry on suspicion of murder and is in police custody at this time.
They also arrested a 33-year-old man from Leamington who was also arrested in connection with this incident remains in police custody.
Anyone with any information is asked to call Warwickshire Police on 101 quoting incident number 137 of January 15.
Alternatively, information can be provided anonymously to Crimestoppers on 0800 555 111 or via their website: www.crimestoppers-uk.org