Credit Facility

Hammerson PLC
18 April 2008


Hammerson arranges £400 million five-year term loan


Hammerson plc has signed and drawn a £400 million five-year credit facility,
provided by Bayerische Landesbank. The facility is secured on Bishops Square,
London E1, a major office building. The non-recourse facility matures in April
2013 and carries a fixed cost of 6.3% p.a.


Bishops Square is a 75,800 m(2) office building, which was developed by
Hammerson in a 75:25 joint venture with the City of London Corporation. The
building was completed in July 2005, with principal occupier Allen & Overy
taking possession of the offices in Autumn 2006. At 31 December 2007 it was
valued at £597 million, with a passing rent of £34.6 million.


Commenting on the transaction, Simon Melliss, Group Finance Director said:


'Our general policy is to borrow on an unsecured basis. In this particular
instance, the opportunity arose to arrange a substantial new non-recourse
facility on attractive terms. This brings to £750 million the additional
committed facilities signed by Hammerson since 31 December 2007.'




Enquiries:
Simon Melliss, Group Finance Director                    Tel:  [phone]
Christopher Smith, Director of Corporate Affairs         Tel:  [phone]

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