Treasury Stock

London & Associated Properties plc ('the Company')

Purchase of own shares

The Company announces that it has today purchased for holding as treasury
250,000 ordinary shares of 10 pence each at a price of 80.9p per share.

The issued share capital remains at 82,316,972 shares which includes 750,000
treasury shares.

For reporting purposes under section 198 of the Companies Act 1985 the market
should exclude any shares held in treasury, giving an issued share capital
figure of 81,566,972 shares.

24 September 2004

Enquiries:

Michael Stevens

Company Secretary

020 7415 5000