London Office Letting

Hammerson PLC
25 August 2005


For immediate release - Thursday, 25 August 2005


Hammerson and Kajima Secure Further Letting at One London Wall


London Wall Limited Partnership, a 50:50 joint venture between Hammerson plc and
Kajima Europe BV, has agreed a lease with the law firm, Maclay Murray & Spens,
for 2,300 m(2) (25,000 ft(2)) of office accommodation at One London Wall, London
EC2.


Maclay Murray & Spens will occupy space on the eighth and twelfth floors of the
18,600 m(2) (200,000 ft(2)) office building. The total rent will be
approximately £1.1 million per annum, reflecting an average rent of £44 per ft
(2). The lease term is 15 years, with a tenant's break option on the tenth year
anniversary and an average rent free period of 26 months. If the lease break is
not exercised, Maclay Murray & Spens will be granted a further 12 month rent
free period.


Following this letting, a total of 11,750 m(2) (126,500 ft(2)) of space in the
building is now let. One London Wall, which provides 18,600 m(2) (200,000 ft(2))
of high specification office accommodation, was completed in October 2003 at a
total development cost of approximately £90 million.


John Richards, Chief Executive of Hammerson, commented:


' I am delighted to welcome Maclay Murray & Spens to One London Wall, which is
now over 60% let. We are experiencing an encouraging level of interest from
potential tenants for the remaining space.'


Magnus Swanson, Chief Executive of Maclay Murray & Spens, said:


'Concluding this deal with the London Wall Limited Partnership is a key
development in our ongoing strategy of expansion through our London office. The
firm's growth in London has been demonstrated clearly over the past year through
our merger with the City Law Partnership and our well-documented practice of
pursuing high-profile lateral hire opportunities. One London Wall is a superb
building, with high quality space in a very convenient location and it will
provide Maclay Murray & Spens with an excellent base for our planned future
growth in the City.'


Hammerson and Kajima were advised by DTZ and Morgan Pepper. Maclay Murray &
Spens was advised by Montagu Evans.


For further information:

John Richards                                 Tel: [phone]

Chief Executive, Hammerson plc


Chris Smith                                   Tel:  [phone]

Director of Corporate Affairs, Hammerson plc  [e-mail]


Katsumi Shibasaki                             Tel:  [phone]

President and CEO, Kajima Europe BV
                                              

Maclay Murray & Spens                         Tel: [phone]

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