Disposal

Great Portland Estates PLC
02 October 2002




                     GREAT PORTLAND ESTATES P.L.C. KICKS OFF
                         PORTFOLIO STREAMLINING IN LONDON


Great Portland Estates today announces it has sold six non-core properties, in
five separate transactions, for a total of £37.3m.  The largest, 13/15 Moorgate,
EC2 was sold to a private Irish investor for £24m.  Built in 1985 behind a
listed facade, the 32,000 sq ft office property is let to Arab Bank PLC until
June 2013 at a headline rent of over £70 per sq ft.  BH2 acted for Great
Portland Estates. FPD Savills advised the purchaser.

The balance of the sales were in Covent Garden, WC2 (Bedford Street, Drury Lane
and Broad Court) and Maddox Street, W1.

The blended net initial yield on the sales was 7.5%.

Great Portland Estates Chief Executive, Toby Courtauld said,

'These sales represent the start of our programme to weed out those properties
we have identified as being non-core. We are pleased with the prices we have
achieved and expect there to be further sales in the coming months.'


For further information, contact:

Great Portland Estates P.L.C.
Toby Courtauld, Chief Executive                        020 7580 3040
Robert Noel, Property Director

Finsbury Group
Ed Orlebar                                             020 7251 3801
Charlotte Festing

                      This information is provided by RNS
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