Circular re Scrip Dividend

London & Associated Properties plc

Circular to Shareholders re Scrip Dividend

Copies of the above document have been submitted to the UKLA, and will shortly
be available for inspection at the UKLA's Document Viewing Facility, which is
situated at:

Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS

Tel. [phone]

12 May 2003

END