Sale of Canadian Business - Canadian Tax Repayment

Hammerson PLC
12 January 2000




Sale of Canadian Business - Canadian Tax Repayment


In  1998 Hammerson plc provided £37.1 million for taxation on the disposal of
Hammerson Canada Inc and this was paid in 1998 and 1999.

Hammerson has now received notification that approximately £20 million of  the
tax will be refunded.  The repayment will therefore be accrued and credited to
the  1999 accounts.  It is anticipated that the repayment will be received  in
the first half of this year.

The tax at issue related to a capital reorganisation prior to the sale.



For further information:


Simon Melliss                                              Tel: [phone]
Group Finance Director                                     Fax: [phone]

Christopher Smith
Director of Corporate Affairs