Disposal

Hammerson PLC
10 December 2002

For immediate release - Tuesday,10 December2002


Hammerson Sells West Riding House, Leeds

Hammerson has exchanged contracts for the sale of its freehold property, West
Riding House, Leeds, to a private co-investment vehicle for £58.1 million gross.
As a condition of the sale, Hammerson has provided the purchaser with a rental
guarantee in respect of two vacant office floors in the building. Hammerson's
maximum commitment in respect of this guarantee is £180,000 per annum over the
next five years. Negotiations are currently in hand with several prospective
occupiers for the vacant space.

The property generates a gross rental income of approximately £3.4 million per
annum. The transaction will give rise to a surplus of nearly £6 million over
book value at 31 December 2001, reflecting recent lettings. Completion is due to
take place on 30 December 2002.



        For further information:

        John Richards          Tel: [phone]

        Chief Executive          Fax: [phone]

        Christopher Smith

        Director of Corporate Affairs


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