Disposal

Hammerson PLC
14 August 2006




Hammerson Sells Avenue Retail Park, Cardiff



Hammerson plc has exchanged contracts for the sale of Avenue Retail Park,
Cardiff, to The Lanebridge Property Fund for £37.5 million.



Hammerson acquired its original investment in the park as part of its
acquisition of Grantchester Holdings PLC in 2002. In 2005, Hammerson carried out
a major improvement programme and expansion of the scheme at a cost of £25
million, increasing its size by 4,500m(2) to 10,500 m(2). Avenue Retail Park
currently generates a net rental income of approximately £2.0 million per annum.



John Richards, Chief Executive of Hammerson plc, said:



' Having added value through the redevelopment, we are selling this property in
order to reinvest in other opportunities in the retail parks sector.'




For further information:

John Richards, Chief Executive                               Tel:  [phone]
Hammerson plc

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



Notes to Editors



 1. Hammerson plc is a leading European real estate investment and development
    company. Established over 50 years ago, the group has operations in the UK,
    France and Germany. Its high quality portfolio provides over 1,200,000 m(2)
    of retail space and 260,000 m(2) of prime offices and was valued at £5.7
    billion at 31 December 2005.



 2. Hammerson has a track record of carrying out successful major regeneration
    and development schemes. Recent projects have included Bishops Square in
    London, The Bullring in Birmingham and WestQuay in Southampton. Hammerson is
    also working with joint venture partners to carry out major redevelopments
    in Bristol and Leicester.



 3. Further information on Hammerson is available at www.hammerson.com.






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