Shires West, Leicester

Hammerson PLC
11 March 2004





John Lewis Partnership - Department Store at Hammerson's Proposed Leicester
Scheme

Hammerson and Hermes have agreed terms with John Lewis for a 20,000 m(2)
department store in the proposed Shires West retail-led development in Leicester
city centre. Shires West represents a key part of the masterplan for the city
centre currently being implemented by Leicester Regeneration Company and
Leicester City Council.

A planning application has recently been submitted for the Shires West
development by Hammerson and Hermes, owners of the adjacent existing 50,000 m(2)
Shires Shopping Centre. The new John Lewis department store will provide a full
range and be the principal anchor of the proposed 60,000 m(2) retail-led mixed
use scheme.

The total costs of Shires West are estimated at £250 million of which
Hammerson's 60% share would amount to £150 million.

Peter Cole, Development Director of Hammerson commented:

' Together with Hermes, we have been working closely with both Leicester City
Council and Leicester Regeneration Company to bring forward this exciting
scheme. We are delighted to have agreed terms with John Lewis for its new
department store. I am confident that, when this scheme gets the go ahead, it
will enhance the whole city centre retailing offer by providing a thriving and
vibrant retail destination serving the entire region.'

Luke Mayhew, Managing Director of John Lewis said:

' This multi-million pound investment demonstrates John Lewis' aim of securing a
major representation within the East Midlands region. We are delighted at the
prospect of offering shoppers an exciting department store as part of Shires
West and look forward to working with the development partners.'



For further information:

Peter Cole                                               Tel: [phone]
Development Director, Hammerson plc

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

Ann Humphries                                            Tel: [phone]
Retail Development Director, John Lewis Partnership




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