Change of Adviser

Hammerson PLC
6 June 2002



Hammerson Appoints Valuers

Hammerson plc has carried out a review of its valuation arrangements, both in
the UK and continental Europe, leading to a number of changes.

In continental Europe, Cushman & Wakefield Healey & Baker will be responsible
for all valuations. In the UK, Donaldsons will value the retail portfolio and
DTZ will value the office portfolio.

DTZ will also review the consistency of valuation methodology and assumptions
across the entire portfolio.

The new arrangements will be effective for the valuation to be carried out for
Hammerson's interim results for the six months to 30 June 2002.



For further information:

John Richards                                                 Tel: [phone]

Chief Executive                                               Fax: [phone]
Christopher Smith

Director of Corporate Affairs



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