Sale of London Building

Hammerson PLC
25 October 2004

Hammerson - Sale of London Office Building for £27.3 million



Hammerson plc has exchanged contracts for the sale of its long leasehold
interest in Centennium House, 100 Lower Thames Street, London EC3, to LaSalle
Investment Management. It is anticipated that completion will take place in
December 2004 and give rise to net sales proceeds of £27.3 million in cash.
Centennium House was valued at £21.8 million as at 31 December 2003.



Hammerson acquired the site in 1994 and completed the redevelopment of
Centennium House in 1999. The 5,800 m(2) office building, which is let to GC Pan
European Crossing UK Limited, produces a rental income of £2.1 million per
annum.



John Richards, Chief Executive of Hammerson, said:



'This sale will release resources for investment in other projects. The group
has a substantial pipeline of development opportunities, which includes 125 Old
Broad Street and 60 Threadneedle Street, the former London Stock Exchange
buildings.'



Hammerson was advised by Drivers Jonas. LaSalle Investment Management was
advised by King Sturge



For further information:

John Richards, Chief Executive                   Tel:  [phone]

Olivia Hall, Corporate Communications Manager    Tel:  [phone]
                                                 [e-mail]






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