Disposal

FOR IMMEDIATE RELEASE

13 August 2007

                      LONDON & ASSOCIATED PROPERTIES PLC                       

           £20.5M SALE OF SAXON SQUARE SHOPPING CENTRE, CHRISTCHURCH           

London & Associated Properties PLC (`LAP') today announces it has
unconditionally exchanged contracts for the sale of its shopping centre in
Christchurch to RREEF UK Property Ventures Fund No 3 for £20.5m cash,
reflecting a net initial yield of 5.05%, or 4.6% net of rents guaranteed by LAP
on certain units for a maximum of a year.

LAP originally acquired the 103,000 sq ft centre in 1997 and it currently
comprises 22 retail units, 9 kiosks and a coffee shop let to tenants including
Somerfield, New Look, Dorothy Perkins, WH Smith, Argos, and Boots. At 31
December 2006, the last independent valuation, the property was valued at £
18.735m.

LAP was advised by Gooch Cunliffe Whale and Lewis & Partners while Jackson
Criss acted for the purchasers.

                                     Ends                                      

Contact

John Heller, Chief Executive, LAP. Tel: [phone]

Robert Corry, Finance Director, LAP.

Baron Phillips, Baron Phillips Associates. Tel: [phone]

END