Euronext Listing

Hammerson PLC
29 March 2004


Hammerson plc Announces Listing on Euronext Paris and Election for French SIIC
Tax Status

Further to Hammerson's preliminary results announcement on 1 March 2004, where
reference was made to the proposed listing of its shares in Paris, Hammerson plc
has now completed the formal process of its application to list its entire
issued share capital on the Premier Marche of Euronext Paris, the French Stock
Exchange. It is anticipated that dealings will commence on 31 March 2004.

Following the listing, Hammerson and its French subsidiaries intend to elect for
SIIC tax status*. The elections will be made, with retrospective effect from 1
January 2004, covering all the group's properties in France (with the exception
of 9 place Vendome, Paris, which is held in an ineligible joint venture).

John Richards, Chief Executive, said:

     'Our proposed election into the French SIIC tax regime is a very positive
     development for Hammerson. This will enable us to take advantage of tax 
     exempt status for our French business, which represents almost 30% of the 
     group's total portfolio.'

* Note: At the end of 2002, the French Government announced new regulations
  enabling real estate companies listed in Paris to elect for the Societes
  d'Investissements Immobiliers Cotees ('SIIC') tax status, under which property
  income and capital gains are exempt from French tax.


For further information:

John Richards                                                 Tel: [phone]
Chief Executive, Hammerson plc

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


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