GBP16.5m Property Sales

FOR IMMEDIATE RELEASE

26 March 2008

               LONDON & ASSOCIATED PROPERTIES AGREE £16.5M SALES               

London & Associated Properties PLC ("LAP"), the specialist retail property
investor, today announces the disposal of two properties with a combined value
of £16.5m.

In London, LAP has exchanged contracts to sell Chenil House, its retail and
office building on Kings Road, to a private property company for £15.0m cash,
although the final sale price may be higher depending on the planning consent
secured by the purchaser. The last published valuation of Chenil House, as at
31 December 2006, was £13.6m.

In addition, LAP has completed the sale of a small shopping parade and adjacent
land in Bradford for £1.5m compared to the last published valuation of £1.1m.

John Heller, Chief Executive of LAP, said: "Although we had looked to gain a
planning consent and develop Chenil House ourselves, we believe that our core
competence lies within retail property and were therefore happy to accept an
attractive offer, which was not conditional on planning. This frees management
time to focus on adding to the acquisitions in the retail sector already made
this year. At the same time, Bradford no longer fitted within our portfolio."

                                     Ends.                                     

Contact:

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

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