Planning Consent

Hammerson PLC
20 November 2002



Spitalfields Scheme Planning Consent

Further to the announcement made on 10 October 2002, detailed planning consent
has been granted for the redevelopment of Bishops Square, London E1. The consent
follows the decision of the Mayor of London and the Secretary of State for the
Environment to allow the local authority, The London Borough of Tower Hamlets,
to issue the consent it had resolved to grant in October.

The development will be undertaken by Spitalfields Development Group ('SDG'),
which is now wholly owned by Hammerson plc, working with The Corporation of
London. Hammerson's share of the estimated total development cost is £285
million.

Designed by Foster & Partners, Bishops Square will consist of 70,000 m(2)
(750,000 ft(2)) of offices, 4,000 m(2) (45,000 ft(2)) of retail accommodation,
extensive public space and amenities. It is anticipated that the 21/4 year
construction programme, to be undertaken by Sir Robert McAlpine, will begin
early in 2003. A lease of the entire building has been agreed with leading
international law firm, Allen & Overy.


For further information:


John Richards          Tel:     [phone]

Chief Executive        Fax:     [phone]

Hammerson plc


Christopher Smith

Director of Corporate Affairs

Hammerson plc


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