London Office Letting

Hammerson PLC
06 June 2005


For immediate release - Monday, 6 June 2005


Hammerson and Henderson Global Investors Sign Lease at Moorhouse, London EC2


Moor House Limited Partnership, a joint venture between Hammerson plc and
Henderson Global Investors, has signed a lease with HVB Group, the international
banking group, for 9,300 m(2) (100,000 ft(2)) of office accommodation at
Moorhouse, London EC2.


HVB Group will occupy five floors of the 30,100 m(2) (324,000 ft(2)) office
building. The total rent is £4.5 million per annum, reflecting an average rent
of £45.50 per ft(2) and a top rent of £47.50 per ft(2). The lease term is 20
years, with a tenant's break option on the fifteenth year anniversary and a rent
free period of 32 months. The lease is subject to upwards only rent reviews
every five years.


In November 2004, Hammerson acquired an additional one-third interest in the
Moor House Limited Partnership, which owns Moorhouse, increasing its interest in
the building to 66.7%. The other one-third interest in the partnership is held
by Henderson Global Investors on behalf of Pearl Assurance.


Designed by Foster and Partners, Moorhouse occupies a prominent site at the
junction of London Wall and Moorgate in the City of London. The landmark office
building is a 30,100 m(2) (324,000 ft(2)), 17 storey building, providing floors
of between 1,250 m(2) and 1,905 m(2) (13,500 ft(2) and 20,500 ft(2)). Moorhouse
was completed in November 2004 at a total development cost to Hammerson of
approximately £123 million.


John Richards, Chief Executive of Hammerson, commented:


'I am delighted to announce this letting, which represents some 30% of the
office accommodation. Moorhouse is an outstanding property with a high
specification and in a first class location. We are experiencing an encouraging
level of interest from potential tenants for the remaining space.'


Hammerson and Henderson Global Investors were advised by Jones Lang LaSalle and
Strutt & Parker. HVB Group were advised by Drivers Jonas.



For further information:


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


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


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