RNS Number:9280B Hammerson PLC 10 April 2001 Hammerson Sells City Office Property Hammerson plc has exchanged contracts for the sale of its interest in Senator House, London EC2 to Challenger International Limited, an Australian financial services group, for £83.6 million, slightly above the book value at 31 December 2000. Completion will take place on 4 May 2001. The 14,600 square metre (157,000 sq ft) office building was developed by Hammerson in 1991 and is leased to International Power, Eversheds, Commonwealth Bank of Australia and Bank Ekspor Impor Indonesia. Net rental income from the property in 2000 was £5.8 million. Commenting on the sale, John Richards, Chief Executive, said: This disposal releases resources for reinvestment in line with our policy of recycling the group's capital. I remain confident in the outlook for both rents and values for prime office buildings in central London. Currently we are carrying out two major developments at 280 Bishopsgate and One London Wall in the City. Hammerson was advised by Insignia Richard Ellis and Challenger was advised by Babcock and Brown and Matthews and Goodman. For further information: John Richards Tel: 020 7887 1000 Chief Executive Fax: 020 7887 1010 Simon Melliss Finance Director END DISURVURABRSAAR