HAMMERSON - SALE OF CANADIAN BUSINESS

TORONTO, Jan. 7 /CNW/ - Hammerson has today completed the sale of its
Canadian business, Hammerson Canada Inc., to OMERS Realty Corporation. This
follows the exchange of conditional contracts announced on 9 November 1998. 
A surplus on the sale of the business was offset by taxation and a
premium on the redemption of two publicly-quoted Canadian dollar bonds,
resulting in a reduction of 10 pence per share in Hammerson's net asset value. 
-0-                         01/07/1999 
/For further information: Ronald Spinney, Chief Executive; Christopher
Smith, Director of Corporate Affairs, Tel: 0171 887 1000, Fax: 0171 887 1010/ 
(HPD.) 
CO:  Hammerson plc
ST:  Ontario
IN:
SU:  TNM 
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