Disposal

Hammerson PLC
18 July 2006







Hammerson sells interest in 83-85 Pall Mall, London SW1



Hammerson plc has sold its leasehold interest in 83-85 Pall Mall, London SW1, to
a UK pension fund client of Orchard Street Investment Management LLP for a net
consideration of £36.7 million. The sale price reflects a premium to book value
of £8.3 million.



The building, held on a long lease from the Crown Estate, was acquired by
Hammerson in 1982 and redeveloped two years later to provide 4,400 m2 of
high-quality office space, which was refurbished in 1999. The net passing rent
on the property is £1.4 million.



John Richards, Chief Executive of Hammerson plc, said:



'This is in line with Hammerson's policy of recycling capital. The Company plans
to reinvest the proceeds in assets offering greater potential for asset
management and development.'



Chris Bartram, Chairman of Orchard Street Investment Management LLP, said



'We are delighted to have acquired this asset which has significant reversionary
income potential and is in a market where we see good growth in the years ahead.
'




For further information:

John Richards, Chief Executive, Hammerson plc                         Tel:  [phone]
Andrea Cockram, Corporate Communications Manager, Hammerson plc       Tel:  [phone]

                                                                      [e-mail]
Chris Bartram, Orchard Street Investment Management LLP               Tel:  [phone]






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