Sale of 4, place de l.Op.ra

Hammerson PLC
31 May 2006

Sale of 4, place de l'Opera



Hammerson has exchanged contracts to sell its 50% interest in 4, place de
l'Opera, Paris 2eme, through the disposal of its shares in the venture, to its
partner FOSCA, an investment fund managed by OFI REIM and F&C. The total
consideration is €39.7 million (£27.1 million), slightly below book value.



FOSCA, which was initially set up by MAAF Assurances, now owns 100% of the
shares in the entity which holds 4, place de l'Opera. The 50/50 joint venture
between Hammerson and FOSCA was set up in April 2001 to carry out a development
of the site. Hammerson, as development manager, created plans for a 10,300 m(2)
mixed-use, office-led development, known as Opera Capucines.



Commenting on the transaction, John Richards, Chief Executive, said:



' Hammerson has added significant value to this project in the pre-development
phase. The Company is pleased to have agreed a sale of its interest in the
development to its joint venture partner, FOSCA.'






For further information:

John Richards, Chief Executive                               Tel:  [phone]

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

                                                          [e-mail]






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