Acquisition - Replacement

Hammerson PLC
15 August 2002

The announcement released today at 10:46 under RNS No.0104A was incorrectly
linked to Stadium Group PLC. The Stadium Group referred to in the body of this 
announcement is unrelated to Stadium Group PLC.


Hammerson Makes First Retail Park Acquisition for £57.7 million

Hammerson plc has exchanged contracts to purchase the freehold of Fforest-fach
Retail Park, Swansea from Stadium Group for £57.7 million. The initial payment
is £34.8 million with the balance payable by May 2003. The 13,400 m(2) (145,000
ft(2)) scheme is currently under construction and is due for completion later
this month. The anticipated total rental income is approximately £3.4 million
per annum of which 62% is committed. The acquisition, which will be financed
from Hammerson's existing resources, represents the group's first investment in
the retail park sector.

Fforest-fach is located north-west of Swansea, close to Junction 47 of the M4
motorway and the city centre. Approximately 440,000 people live within half an
hour's drive time and 1.5 million people live within an hour's drive.

The scheme, which has the benefit of an Open A1 retail classification, will
provide 14 units ranging in size from 400 m(2) to 2,000 m(2). There are 500 car
park spaces. Retailers already signed include Borders, JJB Sports, Next,
Arcadia, WH Smith, Birthdays and Pizza Hut. Adjacent to the park there is a
100,000 ft(2) Tesco Extra store which opened in September 2001.

John Richards, Chief Executive of Hammerson, commented:


             '     The retail warehouse sector has performed very strongly over
        the past few years and we believe that it continues to offer excellent
        growth potential. Our strong contacts with retailers will enable us to
        capitalise on the substantial synergies between prime retail parks and
        our shopping centres. We are reviewing further selected opportunities in
        the sector, both in the UK and continental Europe.'

Hammerson was represented by Harvey Spack Field. The vendor was represented by
Stockford Staunton and the Smith Young Partnership.


        For further information:

        John Richards          Tel: [phone]

        Chief Executive          Fax: [phone]

        Christopher Smith

        Director of Corporate Affairs







Notes to Editors:

Hammerson plc

Established over 50 years ago, Hammerson is a leading European real estate
investment and development company with operations in the UK, France and
Germany. Its high quality portfolio provides over 800,000 m2 of retail space and
nearly 250,000 m2 of prime offices and is valued at over £3.5 billion. Hammerson
has a reputation for operating well managed properties which provide attractive
and efficient environments and meet the changing needs of occupiers and their
customers.





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