Result of EGM

Great Portland Estates PLC
3 May 2001

3rd May, 2001

For immediate release

Great Portland Estates P.L.C.

9.5 per cent. First Mortgage Debenture Stock 2016 (the 'Stock')

Result of meeting of Stockholders

Great Portland Estates P.L.C. ('Great Portland') announces that, at the
meeting of Stockholders held earlier today, the Extraordinary Resolution was
passed.

The Extraordinary Resolution proposed an amendment to the Trust Deed to
entitle Great Portland to redeem the Stock early at the higher of par and the
price at which the yield on the Stock equals the yield on the 8 per cent.
Treasury Stock 2015 plus 1.40 per cent.

Great Portland intends to exercise this right soon. Further details will
follow in due course.

Further information:

Great Portland Estates P.L.C.

John Whiteley, Finance Director 020 7580 3040

Cazenove & Co. Ltd

Francis Burkitt, Director 020 7825 9942

This announcement has been approved for the purposes of section 57 of the
Financial Services Act 1986 by Cazenove & Co. Ltd, which is regulated by the
Securities and Futures Authority.