Issue of Debt

Hammerson PLC
13 January 2006


Hammerson Issues £300,000,000 Unsecured Bonds due 2016


Hammerson plc announces the issue of £300,000,000 unsecured Bonds due 2016. HSBC
and the Royal Bank of Scotland are the joint lead managers and bookrunners to
the issue.


Interest will be payable annually in arrears on 15 December in each year at the
rate of 5.25 per cent and the first such payment is due on 15 December 2006. The
Bonds will be redeemed at par on 15 December 2016, unless redeemed in accordance
with their terms.


The Bonds were issued with a fixed re-offer and issue price of 99.333 per cent
and priced to yield a margin of 118 basis points over the gross redemption yield
of 4.75 per cent Treasury stock due 2015.


Hammerson will use the proceeds of the issue for general corporate purposes,
including the funding of 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 2
February 2006.


John Richards, Chief Executive of Hammerson plc, said:


' I am very pleased with the support for this issue, which underlines the
confidence investors have in Hammerson's business. Hammerson has what I believe
to be the best development pipeline of any of Europe's major real estate
companies. The issue provides funding for part of this programme and further
strengthens the group's capital structure.'


For further information:

John Richards                                                 Tel: [phone]

Chief Executive

Chris Smith                                                   Tel: [phone]

Corporate Affairs Director                                [e-mail]


                      This information is provided by RNS
            The company news service from the London Stock Exchange