REIT Election Approved

Hammerson PLC
13 December 2006



Extraordinary General Meeting - Election by Hammerson for REIT Status



Hammerson plc announces that, at the Extraordinary General Meeting of the
Company held today, shareholders voted in favour of the Special Resolution
permitting the Company to amend its Articles of Association, enabling it to
become a Real Estate Investment Trust ('REIT'). Hammerson will now submit its
election for tax treatment as a REIT to take effect on 1 January 2007.



John Nelson, Chairman, said:



'Hammerson's proposed conversion to a REIT is an exciting development for the
Company. Following the conversion payment of approximately £100 million,
Hammerson will be able to write back over £400 million of deferred tax. We will
then be in the unique position of having REIT status in the UK and SIIC status
in France. As a consequence, Hammerson will be exempt from tax on property
income and capital gains in both countries.



I believe the introduction of the REITs in the UK will introduce new classes of
investor to the real estate sector and increase liquidity and transparency in
the market.'



Further information on Hammerson, including the 'Hammerson REIT Sheet', can be
found on the Company's website www.hammerson.com.






For further information:
John Nelson, Chairman                                         Tel. [phone]
Hammerson plc

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

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




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