Disposal

Hammerson PLC
21 January 2002


 Hammerson Completes Sale of 54 boulevard Haussmann, Paris


Hammerson has completed the sale of 54 boulevard Haussmann, Paris 9eme to DEKA
for Euro 167.7 million (£103 million). This follows the announcement on 25
September 2001 of the exchange of conditional contracts.

Hammerson acquired 54 boulevard Haussmann in November 1994 and carried out a
major redevelopment of the freehold building, creating 12,800 m(2) (gross) of
high quality retail space behind the existing facade. Prior to completion of the
development in 2000 the entire building was leased for 12 years to three major
retailers, Galeries Lafayette, H&M and Burton.

Hammerson was advised by Jones Lang LaSalle.


For further information:

John Richards                                         Tel: [phone]

Chief Executive, Hammerson plc

Christopher Smith                                     Tel: [phone]

Director of Corporate Affairs, Hammerson plc

Gerard Devaux                                     Tel: [phone]

Managing Director Hammerson Europe



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