Revolving Credit Facility

Hammerson PLC
14 June 2004



NEWS RELEASE

For immediate release - Monday, 14 June 2004


Hammerson plc - £230 million Multi-Currency Revolving Credit Facility

Hammerson plc announces the successful syndication and signing of a £230 million
five year revolving credit facility. The facility carries a margin of 55 basis
points over LIBOR. It will be used for general corporate purposes.

The facility was increased from £200 million to £230 million following an
over-subscription. The facility was arranged by eight mandated lead arrangers,
Allied Irish Bank p.l.c., Danske Bank A/S, Dresdner Kleinwort Wasserstein, HSBC
Bank plc, J P Morgan plc, Lloyds TSB Bank plc, The Royal Bank of Scotland plc
and WestLB AG, London Branch with the following participants:

                                                                                          Sterling (£)

Allied Irish Bank p.l.c.                                                                    20,000,000
Danske Bank A/S                                                                             20,000,000
Dresdner Kleinwort Wasserstein                                                              20,000,000
HSBC Bank plc                                                                               20,000,000
J P Morgan plc                                                                              20,000,000
Lloyds TSB Bank plc                                                                         20,000,000
The Royal Bank of Scotland plc                                                              20,000,000
WestLB AG, London Branch                                                                    20,000,000
Barclays Bank Plc                                                                           10,000,000
BNP Paribas                                                                                 10,000,000
Commerzbank AG, London branch                                                               10,000,000
Fortis Bank                                                                                 10,000,000
Societe Generale                                                                            10,000,000
Sumitomo Mitsui Banking Corporation, Europe Ltd                                             10,000,000
UFJ Bank Limited                                                                            10,000,000

This new facility will replace an existing £165 million facility which is due to
expire in July 2004.

Following this, the total medium term committed financing available to Hammerson
will be approximately £2.3 billion.

Simon Melliss, Group Finance Director, commented:

' I am delighted with the excellent response we have received from our bankers
for this medium term facility. It provides flexibility for Hammerson during a
period when we are undertaking a number of major projects.'

For further information:

Simon Melliss                                                                             Tel:  [phone]
Group Finance Director, Hammerson plc

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



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