FOR IMMEDIATE RELEASE

3RD JULY 2014

LONDON & ASSOCIATED PROPERITES PLC

£45.0 MILLION DEBT FINANCING

London & Associated Properties plc (`LAP’ or the `Company’), the focussed

retail property investor and asset manager, today announces the successful

completion of £45 million financing with Santander and Europa Capital Mezzanine

Ltd. This refinances its entire Royal Bank of Scotland loan and releases funds

for new acquisitions.

The new debt package has a five year term, is fully hedged and has a current

blended interest cost of 4.79% As a result of this refinancing, LAP has

extended its debt maturity profile with £45 million of the Company’s £60

million debt repayable in July 2019 and a further £10 million not due until

August 2022.

John Heller, Chief Executive of LAP, commented that: “We are delighted to have

completed the final step in addressing the Company’s legacy loan and derivative

positions. LAP is now better positioned to take advantage of market

opportunities both for direct investment and joint venture asset management.”

LAP’s financial advisor was Alvarez & Marsal and its legal counsel was Olswang.

END

Contact:

London & Associated Properties plc Tel: 020 7415 5000

John Heller, Chief Executive

Robert Corry, Finance Director

Baron Philips Associates Tel: 020 7920 3161

Baron Philips