Revolving Credit Facility

Hammerson PLC
17 May 2005


Hammerson plc - £370 million Revolving Credit Facility


Hammerson plc announces the successful syndication and signing of a £370 million
five year revolving credit facility. The facility is extendable for two further
years at the option of the lenders. The facility carries a margin of 37.5 basis
points over LIBOR. It will be used for general corporate purposes.

The facility was increased from £250 million to £370 million following an
over-subscription. The facility was arranged by 13 mandated lead arrangers,
Barclays Capital, BNP Paribas, Calyon, Dresdner Kleinwort Wasserstein, Eurohypo,
Wachovia Bank, Fortis Bank, HSBC Bank plc, J.P. Morgan plc, Nordeutsche
Landesbank, Royal Bank of Canada Europe Limited, Royal Bank of Scotland plc and
WestLB AG, with the following participants:

                                                                   Sterling (£)

Barclays Bank Plc                                                   25,000,000
BNP Paribas                                                         25,000,000
Calyon                                                              25,000,000
Dresdner Bank AG London Branch                                      25,000,000
Eurohypo A.G. London Branch                                         25,000,000
Wachovia Bank N.A.                                                  25,000,000
Fortis Bank S.A./N.V.                                               25,000,000
HSBC Bank plc                                                       25,000,000
JP Morgan Chase Bank, N.A.                                          25,000,000
Nordeutsche Landesbank Girozentrale, London Branch                  25,000,000
Royal Bank of Canada Europe Limited                                 25,000,000
Royal Bank of Scotland plc                                          25,000,000
WestLB AG, London Branch                                            25,000,000
Banco Populare di Verona e Novara, London Branch                    15,000,000
Sumitomo Mitsui Banking Corporation, Europe Ltd                     15,000,000
UFJ Bank Limited                                                    15,000,000


This new facility will replace an existing £250 million facility which is due to
expire in July 2005.

Following this, the total medium term committed financing available to Hammerson
will be approximately £2.4 billion.

Simon Melliss, Group Finance Director, commented:

' I am delighted with the excellent response we have received from our bankers
for this medium term facility. It provides flexibility for Hammerson during a
period when we are undertaking a number of major capital projects.'


For further information:

Simon Melliss                                                Tel:  [phone]
Group Finance Director, Hammerson plc

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


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