7.25% Debenture Stock

Great Portland Estates PLC
02 March 2006

For immediate release
2 March 2006



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES


GREAT PORTLAND ESTATES plc
7.25% First Mortgage Debenture Stock due 2027



Yesterday the company repurchased £52,306,265 nominal of the stock for
cancellation, representing 55.4% of the outstanding stock.  £42,159,310 nominal
remains outstanding.

As announced yesterday, until close of business on 7 March 2006, the company
will respond to offers from holders of the stock who wish to sell their stock
back to the company, for cancellation, at a price that gives a spread of 0.375%
over the 6% Treasury Stock 2028 at the time of trade.  Stockholders should
contact the company's broker, JPMorgan Cazenove (details below).



Contact:


Great Portland Estates plc:
Timon Drakesmith, Finance Director
020 7647 3034

JPMorgan Cazenove:
Francis Burkitt/Tim Waters/David Varney/Will Beausire
020 7588 2828



The communication of this press release is only being made to those persons in
the United Kingdom who fall within Article 43(2) of the Financial Services and
Markets Act 2000 (Financial Promotions) Order 2005 or any other persons to whom
it may otherwise lawfully be made under that Order.

Copies of this press release are not being, and must not be, mailed or otherwise
forwarded, distributed or sent in or into or from the United States, and persons
receiving this press release (including custodians, nominees and trustees) must
not mail or otherwise forward, distribute or send it into or from the United
States.  Great Portland Estates plc does not intend to consider offers of stock
made by persons in the United States.




                      This information is provided by RNS
            The company news service from the London Stock Exchange