Retail Park Development

Hammerson PLC
10 July 2007

FRANCE: RETAIL PARK DEVELOPMENT ACQUISITIONS
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Hammerson plc has entered into agreements to acquire two retail park
developments in France, representing a potential total investment of
approximately €50million.

It has exchanged contracts to acquire the freehold of a proposed development, St
Omer Retail Park, for €29.5 million. The project will be developed by current
owner SCCV des Frais Fonds, a 50:50 joint venture between CFA Nord (part of the
Financiere Duval group) and local development company PALM Promotions. Hammerson
will pay 30% of the purchase price upon start on site in January 2008.
Subsequent payments will be made dependent on CFA / PALM achieving agreed
development milestones. The site is located 2km south of St Omer, between Calais
and Lille, with direct access from the ring road. An adjacent site accommodates
a complementary, strong retail offer including a large Auchan hypermarket and a
40-unit shopping gallery.

CFA / PALM has obtained a CDEC(1), and is awaiting full planning consent for
24,000 m(2) of retail units, of which Hammerson's ownership upon completion will
be 19,340 m(2). Around 89% of the scheme is pre-let, with principal tenants
including Boulanger, Gifi, Intersport and Tati. The estimated net rental income
upon completion in mid-2009 is €1.75 million per annum, representing a net
initial yield of 5.9%.

Hammerson has also signed heads of terms to acquire the development site of Cap
Malo Retail Park, near Rennes, through the acquisition of the entire issued
share capital of GVA Collyer Coxhead Cap Malo, a subsidiary of GVA Collyer
Coxhead Holdings. Hammerson will pay     €10.3 million for the five-hectare
site, which has a CDEC for 10,700 m(2) of clothing, homewares and leisure retail
park accommodation. A planning application has been submitted and the result is
expected shortly. Additional total development costs are estimated at €10.6
million, with work on site expected to start in April 2008 for completion in
April 2009. The forecast net initial yield on completion is 6.2%.

The acquisitions will be financed from existing committed bank facilities.

John Richards, Chief Executive of Hammerson, said:

'Hammerson's strategy is to expand its business in France. These two
acquisitions provide attractive development opportunities and significantly
increase the scale of the group's activities in the French retail park sector,
following the acquisition of Villebon 2 in 2005. These transactions follow
Hammerson's recent sale of its 50% interest in 9 Place Vendome in Paris, which
realised a total development surplus of £117million (€174 million) or 130% on
cost.'


Enquiries:
----------

John Richards, Chief Executive                            Tel:  [phone]

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

Gerard Devaux                                             Tel: [phone]
                                                          [e-mail]


Notes to Editors:
----------------

Hammerson plc

Hammerson plc is a leading European REIT (LSE: HMSO). Established over 50 years
ago, the group has operations in the UK and France. Its high quality real estate
portfolio provides approximately 1,300,000 m(2) of retail space and 275,000 m(2)
of prime offices and is valued at nearly £7 billion. It has a development
programme of around £6 billion.

For more information, visit www.hammerson.com.

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(1) CDEC: Commission Departementale d'Equipement Commerciale, or planning
approval which determines the amount of commercial activity allowed on a site.




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