Financial Highlights

FOR IMMEDIATE RELEASE

28th April 2006

                      LONDON & ASSOCIATED PROPERTIES PLC:                      

            PRELIMINARY RESULTS FOR 12 MONTHS TO 31ST DECEMBER 2005            

                                  HIGHLIGHTS                                   

London & Associated Properties PLC is fully listed and is focussed on the
acquisition of, and long term management of, well located shopping centres and
other retail investments. Today it owns and manages £272m of retail
investments.

  * Fully diluted net assets have risen by 18.1% to 115.9p per share
   
  * Total property portfolio increased by 9% to £272.5m
   
  * Pre-tax profits of £17.9m - broadly unchanged
   
  * Gross rental income from directly owned portfolio up 1.4% to £7.9m
   
  * Final dividend of 1.175p per share recommended making 1.725p per share for
    the year - up 5%
   
"2005 was another year of considerable progress and I am pleased to report that
your Company is in a very strong financial position with a number of exciting
value enhancing projects underway. As a result, I look forward to the future
with great confidence," Michael Heller, Chairman.

                                    -more-                                     

Contacts:

London & Associated Properties PLC Tel: [phone]

Michael Heller, Chairman

John Heller, Chief Executive

Robert Corry, Finance Director

Baron Phillips Associates Tel: [phone]

07050 124119

Baron Phillips