Re-issue of treasury shares

London & Associated Properties PLC ('the Company')

The Company has today issued from Treasury 532,900 shares to cover the exercise
of share options.

The Company now holds 217,100 shares in treasury. For reporting purposes under
section 198 of the Companies Act 1985 the market should exclude any shares held
in treasury and use an issued share capital figure of 82,099,872 shares.

Date 13 June 2005

For further information, please contact:

Michael Stevens

Director/Secretary

London & Associated Properties PLC

Tel: [phone]