Sale of Latham House

Hammerson PLC
01 June 2004



NEWS RELEASE


For immediate release - Tuesday, 1 June 2004


Hammerson - Sale of Latham House for £23 million


Hammerson plc has sold its freehold and long leasehold interests in Latham
House, 16 Minories, London EC3, and adjacent property interests, to Minories
Estate Limited, a private company (part of Beetham Organization Limited), to
realise net sales proceeds of £23 million, marginally above book value as at 31
December 2003.


Hammerson is entitled to certain additional payments dependent on the
achievement of planning consents and the floor area of any new development.


Hammerson acquired its interests in Latham House in 1996 and the 8,400 m(2)
office building generated a net rental income of £2.8 million in 2003.


John Richards, Chief Executive of Hammerson, said:


'This sale is in line with our strategy of recycling capital. The proceeds will
be used for investment in projects offering good growth potential. The group has
a substantial pipeline of future development opportunities both in the retail
and office sectors.'


Hammerson was advised by CBRE and Minories Estate was advised by BH2.



For further information:

John Richards                                                Tel:  [phone]

Chief Executive


Olivia Hall                                                  Tel:  [phone]

Corporate Communications Manager                           [e-mail]



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