Transaction in Own Shares

London and Associated Properties PLC

Transaction in Own Shares and Correction

Transaction in Own Shares

London and Associated Properties PLC ("the Company") announces that on 18
December 2007 it purchased 250,000 ordinary shares of 10 pence each in the
capital of the Company at a price of 80.00 pence per share. The purchased
shares will be held as treasury shares.

Following the above purchase, the Company holds 6,167,545 ordinary shares as
treasury shares. The total number of ordinary shares in issue (excluding shares
held as treasury shares) is 76,149,427.

Correction

This is an amendment to the Transaction in Own Shares announcement issued on 19
November 2007 in which the number of Shares received by R J Corry was
incorrect. Please see the correct details below.

RJ Corry received 90,414 shares, not 94,414 as previously stated. Therefore, Mr
Corry's new holding is 342,065 shares which equated to 0.45% of ordinary shares
in issue as at 19 November 2007. Therefore the total number of additional
shares should read 244,840 shares, not 248,840 as previously stated.

The number of ordinary shares held as treasury and the total number of ordinary
shares in issue, as contained above in this announcement, are now correct.

Enquiries:

Michael Stevens

Director/Secretary

London & Associated Properties PLC

Tel: [phone]