Disposal

Hammerson PLC
21 August 2006



Disposal: Liberty Shopping Centre, Romford


Hammerson has exchanged contracts for the sale of the freehold interest in
Liberty Shopping Centre, Romford and adjacent office buildings, to Cosgrave
Property Group for £281 million. The scheme had a book value of £229 million at
31 December 2005 and is projected to generate a net rental income of
approximately £10 million in 2006.

Hammerson developed the original Liberty Shopping Centre in 1968 in a joint
venture with Standard Life Investments. In 1999, Hammerson acquired Standard
Life's 50% interest in the scheme and the freehold for approximately £53
million. It subsequently invested a further £52 million in carrying out a major
redevelopment and refurbished of the scheme, which was completed in 2003. The
shopping centre now provides 41,000 m(2) of retail accommodation, anchored by
Marks & Spencer and Debenhams.

John Richards, Chief Executive said:

' Hammerson has added significant value to the Liberty Shopping Centre in recent
years. The centre trades strongly and dominates its catchment. This was
reflected in the good interest shown by potential investors.

This disposal is in line with Hammerson's policy of recycling capital. It
follows Hammerson's recent UK acquisition for £425 million of a portfolio five
retail parks, all with open A1 planning consents.'

Hammerson was advised by Jones Lang LaSalle and Cosgrave was advised by CBRE.


For further information:

John Richards, Chief Executive                              Tel:  [phone]

Christopher Smith, Director of Corporate Affairs            Tel:  [phone]
                                                [e-mail]




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