Euro Bond Issue

Hammerson PLC
12 June 2006


Hammerson Issues Euro 700,000,000 Unsecured Bonds Due 2015


Hammerson plc announces the issue of Euro 700,000,000 unsecured Bonds due 2015.
Barclays Capital, Dresdner Kleinwort Wasserstein and JP Morgan Cazenove are the
joint lead managers and bookrunners to the issue.



Interest will be payable annually in arrears on 19 June in each year at the rate
of 4.875 per cent and the first such payment is due on 19 June 2007. The Bonds
will be redeemed at par on 19 June 2015, unless redeemed in accordance with
their terms.



The Bonds were issued with a fixed re-offer and issue price of 99.879 per cent
and priced to yield a margin of 80 basis points over the nine year Euro mid
interest rate swap.



Hammerson will use the proceeds of the issue for general corporate purposes,
including the funding of current development projects.



Application will be made to the Financial Services Authority for the Bonds to be
admitted to the Official List of the UK Listing Authority, and to the London
Stock Exchange plc for the Bonds to be admitted to trading. It is expected that
official dealings in the Bonds will commence on the London Stock Exchange on 19
June 2006.



Simon Melliss, Group Finance Director of Hammerson plc, said:



'I am very pleased with this issue, which attracted support from a wide range of
European investors. This transaction once again underlines the confidence
investors have in Hammerson's business. The issue provides funding for our
French operations and further strengthens the group's capital structure.'




For further information:

Simon Melliss                                               Tel: [phone]
Group Finance Director
                                                        
Chris Smith                                                 Tel: [phone]
Corporate Affairs Director                              [e-mail]







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