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Disposal

31.03.1999

RNS No 0178h
HAMMERSON PLC
31 March 1999


Hammerson Sells German Shopping Centre

Hammerson  plc  has  sold  Saar Galerie, its shopping centre  in  Saarbrucken,
Germany, to Credit Suisse Asset Management for DM 59.9 million (£20 million).

The  21,000sq m  centre was developed by Hammerson ten years  ago  and  the
disposal will result in a small loss on the 1998 year end book value.

Commenting on the transaction, Ronald  Spinney, Chief Executive, said:

    'This  disposal  and  our  recent £42 million acquisition  of  the  Luisen
    Center,  a  15,500 sq m shopping mall in Darmstadt, are in line  with  the
    group's strategy of enhancing the quality of its portfolio in Germany'.


For further information:

Ronald Spinney         Tel: 0171 887 1000
Chief Executive        Fax: 0171 887 1010

Christopher Smith
Director of Corporate Affairs

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