Offer Document Posted

Hammerson PLC
23 September 2002

 Not for release, distribution or publication, in whole or in part, in or into
                 the United States, Canada, Australia or Japan

                  For immediate release     23 September 2002

                           Hammerson plc ('Hammerson)

       Recommended unconditional cash offer for Grantchester Holdings PLC

                           Posting of offer document

Hammerson announces that the offer document in respect of its recommended
unconditional cash offer for Grantchester Holdings PLC was posted on Saturday,
21 September 2002.

The first closing date of the Offer is 3.00 p.m. on 12 October 2002.






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