Statement re Debenture Stock

Great Portland Estates PLC
5 April 2002


5th 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

Result of meeting of Stockholders

Great Portland Estates P.L.C. announces that, at the meeting of Stockholders
held earlier today, the Extraordinary Resolution was passed.

The Extraordinary Resolution proposed an amendment to the Trust Deed to entitle
a subsidiary of Great Portland to purchase the Stock 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 plus 1.05 per cent.

That subsidiary intends to exercise this right soon. Further details will follow
in due course.

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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