Disposals in Germany

Hammerson PLC
15 May 2006


Hammerson Disposals in Germany


Hammerson has exchanged contracts for the sale of Markisches Zentrum, a 54,700
m(2) shopping centre in Berlin, to Dubai Investment Group for €88.0 million. The
property generated a net rental income of €4.0 million in 2005.


The transaction follows the announcement last week of the exchange of contracts
for the sale of B5, a factory outlet centre near Berlin, to Henderson Global
Investors for €21.8 million.


Hammerson now owns one property in Germany, the 28,900 m(2) Forum Steglitz
shopping gallery in south west Berlin. This asset is currently undergoing a
major refurbishment programme and it is anticipated that the property will
subsequently be marketed for sale.


Commenting on the transaction, John Richards, Chief Executive, said:


' Hammerson's strategic focus is on increasing its exposure to the UK and French
markets where it has critical mass and established teams.


It has been our intention to dispose of our German property assets. In this
connection, we closed our office in Germany at the beginning of 2004 and
outsourced the management of our three remaining assets in Berlin.


The sale proceeds will be reinvested in our development programme, which
includes major retail schemes in Bristol and Leicester, and an expansion
programme at Parinor, the second largest shopping centre in the Ile-de-France
region of France.'


For further information:

John Richards, Chief Executive                        Tel:  [phone]

Christopher Smith, Director of Corporate Affairs      Tel:  [phone]

                                                      [e-mail]


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