Disposal

Hammerson PLC
1 July 2003



Hammerson plc Completes Sale of Paris Office Building

Further to Hammerson's announcement of 8 May 2003, the group announces that it
yesterday completed the sale of 53 quai d'Orsay, Paris 7eme to KanAm Grund
Kapitalanlagegesellschaft mbH, a German fund, for net proceeds of £74 million
(€106 million). The sale price takes into account the remaining cost of the
tenant's rent free period. The 9,200 m(2) office building was redeveloped by
Hammerson and completed in September 2002 at a total cost of €91 million.


For further information:

Gerard Devaux                                    Tel: [phone]
Managing Director
Hammerson France



Chris Smith                                         Tel:  [phone]
Director of Corporate Affairs                    [e-mail]
Hammerson plc



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