Debenture Stock

Great Portland Estates PLC
8 April 2002

8th April, 2002

For immediate release

Great Portland Estates P.L.C.

Purchase of £130,000,000 10.75 per cent.

First Mortgage Debenture Stock 2021

Notice of purchase

Great Portland Estates P.L.C. announces that its subsidiary, Pontsarn
Investments Limited, has today given notice to purchase all the outstanding
Stock.

Payment will be at the higher of par and the price at which the yield on the
Stock equals the yield on the 8 per cent. Treasury Stock 2021 (at 3.00 p.m. on
10th April, 2002) plus 1.05 per cent.

In accordance with the terms of the Trust Deed as amended on 5 April, 2002 and
circular to Stockholders, cheques will be despatched on 12th April, 2002.

Further information:

Great Portland Estates P.L.C.

John Whiteley, Finance Director 020 7580 3040

Cazenove & Co. Ltd

Francis Burkitt, Director 020 7825 9942

This announcement has been approved for the purposes of section 21 of the
Financial Services and Markets Act 2000 by Cazenove & Co. Ltd, which is
regulated by the Financial Services Authority.



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