RNS Number:2831A Hammerson PLC 12 March 2001 Hammerson Acquires Additional City Development Interest Hammerson has exchanged contracts to acquire the remaining one third interest in Spitalfields Development Group (SDG) from Balfour Beatty for £11 million. This follows the announcement on 20 December 2000 of Hammerson's acquisition of a two thirds interest in SDG. A consideration of £1 million was paid on exchange of contracts and £7 million is payable on completion of the acquisition in December 2001. The balance of £3 million will be paid when certain construction and letting targets have been achieved. For further information: John Richards Chief Executive Tel: 020 7887 1000 Christopher Smith Director of Corporate Affairs END ACQILFIIVRIFLIL MMMM