Director Shareholding

Great Portland Estates PLC
11 December 2002


The Company announces, today, that it has granted the following awards under the
Company Long-Term Incentive Plan in respect of 448,942 Ordinary Shares of 50 
pence each, as follows:

     Director        Date of Grant      Number of Shares    Vesting Date
     T. Courtauld    11.12.02           160,211             11.12.05
     R. Noel         11.12.02           146,713             11.12.05
     J Whiteley      11.12.02           142,018             11.12.05

The awards are conditional upon criteria relating to the Company's performance 
over the three year period commencing on the date of grant.


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