New Debenture Issue Pricing

Great Portland Estates PLC
23 January 2007


Pricing of New Debenture Issue

Following the announcement on 20 December 2006, Great Portland Estates plc has
priced a new issue of £50 million nominal of its 5.625 per cent First Mortgage
Debenture Stock 2029. The new issue has been priced at 105.262 per cent
representing a yield to maturity of 5.22 per cent, a spread of 75bp over the
yield on the 6 per cent Treasury Stock 2028. The issue was underwritten by
Barclays Capital and The Royal Bank of Scotland for settlement on 31 January
2007.

Contacts:

Great Portland Estates plc
Timon Drakesmith                               Tel: [phone]

Barclays Capital
Jeremy Froud                                   Tel: [phone]

The Royal Bank of Scotland
Robert St John                                 Tel: [phone]

UNDER NO CIRCUMSTANCES SHALL THIS NOTICE CONSTITUTE AN OFFER TO SELL OR THE
SOLICITATION OF AN OFFER TO BUY OR SUBSCRIBE FOR SECURITIES.



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