Windsor Redevelopment Consent

London & Assoc Properties PLC
26 July 2004


FOR IMMEDIATE RELEASE

26th July 2004


LONDON & ASSOCIATED RECEIVES CONSENT FOR WINDSOR SHOPPING CENTRE REDEVELOPMENT


London & Associated Properties PLC ('LAP') today announces that detailed
planning consent has been granted for the partial redevelopment of the King
Edward Court Shopping Centre, Windsor, which LAP acquired in a joint venture
with Bank of Scotland ('BoS') in December 2002 for approximately £45.3m.


The planning consent, subject only to documenting a Section 106 agreement and
formal consent from the Secretary of State, is for the redevelopment of an
existing outdated supermarket and office tower into 100,000 sq ft of modern
retail accommodation and a 113-bed hotel. This will increase the retail content
of King Edward Court by 60,000 sq ft to over 215,000 sq ft


The retail element of the scheme will comprise four shop units and a cafe/bar
totalling approximately 60,000 sq ft and a 40,000 sq ft state of the art
supermarket . Three of the four units and the new supermarket are under offer
and the hotel has been pre-let to Travelodge.


All existing tenancies in the buildings to be demolished, expire, or can be
terminated, by the end of 2004 and building work will commence early in 2005.


John Heller, Chief Executive of LAP, commented: 'The planned redevelopment is an
extremely exciting proposition. At the time of our purchase of the centre we
were conscious of the pent up demand for larger shops in Windsor that could not
be satisfied by the existing available space. The quality retailers we currently
have under offer will ensure Windsor can compete with its bigger neighbours to
attract shoppers for years to come.'


King Edward Court is owned by Analytical Properties, the 50-50 joint venture
between LAP and BoS. In addition to Windsor Analytical also owns the 350,000 sq
ft Church Square Shopping Centre in St Helens, which it acquired for £50m in
July 2003.


Contact:

         John Heller, Chief Executive, LAP.              Tel:[phone]

         Baron Phillips, Baron Phillips Associates.      Tel:[phone]


Ends.



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