One London Wall Letting

Hammerson PLC
06 July 2004



NEWS RELEASE



For immediate release - Tuesday, 6 July 2004



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 signed a lease with Osborne Clarke, a leading business law
firm, for 3,250 m(2) (35,000 ft(2)) of office accommodation at One London Wall,
London EC2.



Osborne Clarke will occupy the sixth and seventh floors of the building at an
initial rent of       £457 per m(2) (£42.50 per ft(2)) following a rent free
period of 26 months. The lease term is 15 years with a tenant's break option on
the tenth year anniversary.



This letting follows the lease signed earlier this month for 1,300 m(2) (14,000
ft(2)) of offices with Melli Bank, which has a longstanding and substantial
banking presence in the UK, and that with Dewey Ballantine, a leading
international law firm, in February 2004 for 2,930 m(2) (31,500 ft(2)) of space.



Providing 18,600 m(2) (200,000 ft(2)) of high specification office
accommodation, One London Wall was completed in October 2003 at a total
development cost of approximately £94 million.



John Richards, Chief Executive of Hammerson, commented:



' I am delighted to announce this most recent letting at One London Wall. The
building is now some 40% let and we are continuing to see an encouraging level
of interest for the remaining space.



 This brings to over 10,000 m(2) (107,000 ft(2)) the amount of space let by
Hammerson in London and Paris over the past few weeks.'



Katsumi Shibasaki, President and CEO of Kajima Europe BV, stated:



' We are very pleased to welcome Osborne Clarke and Melli Bank to One London
Wall,    which is one of the most impressive and highest specification buildings
in the City.'



Hammerson and Kajima were advised by DTZ, Morgan Pepper and Nabarro Nathanson.


For further information:

John Richards                                                 Tel: [phone]

Chief Executive, Hammerson plc



Olivia Hall                                                   Tel: [phone]

Corporate Communications Manager, Hammerson plc            [e-mail]


Katsumi Shibasaki                                             Tel: [phone]

President and CEO, Kajima Europe BV




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