Interim Management Statement

FOR IMMEDIATE RELEASE

17 May 2013

                      LONDON & ASSOCIATED PROPERTIES PLC:                      

                         INTERIM MANAGEMENT STATEMENT                          

London & Associated Properties PLC ("LAP" or "the Company"), the specialist
retail focused property investor, today releases its Interim Management
Statement for the period from 1 January 2013 to 17 May 2013.

Our Annual Report & Accounts for the year to 31 December 2012 were released to
shareholders on 30th April 2013.

Trading conditions remain challenging since we last updated shareholders;
however, we continue to enjoy the same high occupancy levels as previously
reported. We believe this is due to the strategy adopted some years ago of
either owning shopping centres in locations that offer a significant experience
beyond the simple acquisition of goods, or in convenience/value locations.
Demand from tenants remains positive, and where we have marketed units we have
consistently been pleased with the levels of interest.

We recently extended until July our revolving credit facility for £44.2 million
with Royal Bank of Scotland. Negotiations with the Bank are nearing completion
and we will report separately to shareholders once this refinancing is
concluded.

London & Associated Management Services Ltd ("LAMS"), our asset management
subsidiary, continues to work closely with Lloyds Bank on the Agora Portfolio
of shopping centres and is working through a number of management initiatives
that we had originally identified.

LAMS also manages Langney Shopping Centre, Eastbourne on behalf of a Jersey
unit trust in which LAP holds a 12.5% interest. We have submitted a planning
application to significantly extend this Centre and create c40,000 sq ft of
additional retail space. This shopping centre is currently closed following a
roof collapse in the heavy rain experienced at the end of last year. We are
working with professional advisers and expect to claim any losses from our
insurers. The shopping centre should commence a phased reopening over the next
two months. As part of this reopening, Tesco, our anchor store at the Centre,
is undertaking significant refurbishment.

Contact:

London& Associated Properties PLC Tel: [phone]

John Heller, Chief Executive

Robert Corry, Finance Director

Baron Phillips Associates Tel: [phone]

Baron Phillips