Planning Resolution

Hammerson PLC
10 October 2002









Planning Resolution for Bishops Square Scheme

Further to the announcement made on 16 September 2002, Hammerson plc, through
its subsidiary, Spitalfields Development Group ('SDG'), and its partner, the
Corporation of London, announce that The London Borough of Tower Hamlets has
passed a resolution to grant planning permission for SDG's proposed
redevelopment of Bishops Square, London, E1.

Bishops Square will consist of 70,000 m2 (750,000 ft2) of offices, 4,000 m2
(45,000 ft2) of retail accommodation, extensive public space and amenities.
Designed by Foster & Partners, Bishops Square will be the new headquarters of
international law firm, Allen & Overy. It is anticipated that construction will
begin early in 2003 with completion expected in 2005.

The resolution is subject to consideration by The Mayor of London and The
Secretary of State for the Environment. The resolution is also subject to
completion of a planning agreement with The London Borough of Tower Hamlets.











For further information:

John Richards                                     Tel:     [phone]

Chief Executive                                   Fax:     [phone]

Hammerson plc

Christopher Smith

Director of Corporate Affairs

Hammerson plc


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