Statement re Letting

Hammerson PLC
2 November 2000


Hammerson Letting of 280 Bishopsgate, London EC2, to The Royal Bank of
Scotland Group

Hammerson plc has agreed heads of terms to lease 280 Bishopsgate, its
landmark office development near to Liverpool Street Station and opposite
Broadgate, to The Royal Bank of Scotland Group.

Designed by leading architects Foggo Associates, the 13 storey property
totalling approximately 25,000 sq m (270,000 sq ft), is scheduled to be
completed in October 2001.

The Royal Bank of Scotland Group has agreed to take a 25 year lease at an
initial rent of £14.7  million per annum.

John Richards, Chief Executive of Hammerson plc, said:

'I am delighted with this letting to a leading international bank. We
started 280 Bishopsgate in Autumn 1999, anticipating the current demand for
prime, central London offices.  280 Bishopsgate is part of our continuing
programme of high quality office developments in London and Paris. We have
a number of other major projects in the pipeline, including an 18,600 sq m
office building at 1 London Wall, London EC2 and two office buildings,
totalling 21,900 sq m, at 51/53 quai d'Orsay, Paris 7eme.'
   
Commenting on the transaction, Fred Goodwin, Group Chief Executive of The
Royal Bank of Scotland Group, said:

'This important new building is the anchor point of our central London
property strategy.  We are in the process of dramatically reducing the
number of buildings we have in central London, moving towards a strategy
where we will have fewer buildings of higher quality.'

For further information:

John Richards
Chief Executive
Hammerson plc                          Tel: [phone]

Christopher Smith
Director of Corporate Affairs
Hammerson plc                          Tel: [phone]

Marianne Kemp
Deputy Head of Group Media Relations
The Royal Bank of Scotland Group       Tel: [phone]

Note to Editors:

The development team on 280 Bishopsgate comprises Building Contractor - Sir
Robert McAlpine, Architects - Foggo Associates, Cost Consultants - Davis
Langdon & Everest.

Development and letting agents BH2 and Insignia Richard Ellis acted for
Hammerson plc.
DTZ Debenham Thorpe acted for The Royal Bank of Scotland Group.