Re Contract

Hammerson PLC
12 December 2000

Hammerson Exchanges Contracts for Letting of 280 Bishopsgate, London EC2, to

The Royal Bank of Scotland Group

Hammerson plc has exchanged contracts with The Royal Bank of Scotland plc for
the lease of 280 Bishopsgate, London, EC2. This follows the announcement on 2
November 2000 that the two parties had agreed heads of terms.

Designed by leading architects Foggo Associates, the 13 storey property is
scheduled to be completed in October 2001 and will provide approximately
25,000 sq m (270,000 sq ft) of high quality flexible accommodation.
Hammerson's total development costs are estimated at £111 million.

The lease will be for a 25 year term with a gross rent of £15.0 million per
annum. A ground rent of £374,000 per annum is payable to the freeholder, The
Corporation of London.

 
BH2 and Insignia Richard Ellis acted for Hammerson and DTZ Debenham Tie Leung
acted for Royal Bank of Scotland.
 
 
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]