Holding in Company

Great Portland Estates PLC
30 August 2000


Letter to Company Announcements Office

I have today received notification that UBS Asset Management Limited, Phillips &
Drew Life Limited and UBS Asset Management International Limited, all
subsidiaries of UBS Asset Management Holding (No.2) Limited, have reduced their
holding to 44,948,932 ordinary shares of 50p each in this Company, representing
12.59% of the issued share capital of the Company.

A copy of their notice is below.  

Letter from Great Portland Estates plc



LETTER TO:     Great Portland Estates Plc -  dated 16 August 2000

Re: S.198 Companies Act 1985: as amended by The Disclosure of Interest in
    Shares (Amendment) Regulations 1993

In accordance with the Companies Act 1985, (as amended) I write to notify you
that UBS Asset Management Limited, Phillips & Drew Life Limited and UBS Asset
Management International Limited have an interest in 44,948,932 ord 50p shares
of the Company. This represents 12.59% of the issued share capital of the
Company.

UBS Asset Management Limited, Phillips & Drew Life Limited and UBS Asset
Management International Limited are subsidiaries of UBS Asset Management
Holding (No.2) Limited which is also treated as having an interest in the above
shares.  We are authorised to make this aggregate disclosure on behalf of 
UBS Asset Management Holding (No.2) Limited the registered address of which is:

                   Triton Court
                   14 Finsbury Square
                   London EC2A 1PD

LETTER FROM PHILLIPS & DREW FUND MANAGEMENT LIMITED