Update on Revolving Credit Facility

20 September 2012

               London & Associated Properties PLC ("the Company)               

                      Update on Revolving Credit Facility                      

London & Associated Properties Plc ("LAP") currently has a £47 million
revolving credit facility with Royal Bank of Scotland ("RBS") of which £44.2
million is drawn, which will expire on 22nd September 2012. 

LAP has been negotiating a renewal of this facility for approximately 12
months.  While it now appears likely that a new facility will not have been
agreed by the expiry date, we are very close to reaching agreement and have the
support of RBS while negotiations continue.

We look forward to updating shareholders on a satisfactory conclusion to these
negotiations in due course.

Ends.

 

For further information please contact:

John Heller, Chief Executive

London & Associated Properties PLC Tel: [phone]