Disposal

Hammerson PLC 27 June 2005 For immediate release - Monday, 27 June 2005 Hammerson - Sale of Neo, 14 boulevard Haussmann, Paris 9eme for £179 million Hammerson plc has sold Neo, 14 boulevard Haussmann, Paris 9eme, to KanAm Grund Kapitalanlagegesellschaft mbH, a German fund, raising net cash proceeds of £179 million (€269 million). The freehold 26,700 m(2) office property was completed in September 2003. The principal occupier of Neo, 14 boulevard Haussmann is La Societe du Figaro, the leading French newspaper. Additional tenants include: the Embassy of the United States of America; CCF, a subsidiary of HSBC Holdings plc; De Fursac; and Societe Hoteliere Lutetia Concorde. The property currently produces a passing rental income of £10.4 million (€15.6 million) per annum. The sales proceeds were 5% below the original cost of the building, but 19% above the valuation of the property at 31 December 2004. John Richards, Chief Executive of Hammerson, said: 'The occupational market in Paris proved to be considerably weaker than we envisaged when we started the development of Neo. However, the investment market in Paris for prime offices has remained buoyant enabling us to recycle the proceeds from this property. Hammerson has a substantial pipeline of future development opportunities, both in the retail and office sectors, and the proceeds will be invested in other projects offering good growth potential.' Hammerson was advised by Strategies and Corp. For further information: John Richards, Chief Executive Tel: 00 44 20 7887 1000 Gerard Devaux, Managing Director, Continental Europe Tel: 00 33 1 56 69 3000 Chris Smith, Director of Corporate Affairs Tel: 00 44 20 7887 1019 csmith@hammerson.co.uk This information is provided by RNS The company news service from the London Stock Exchange

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