Issue of Treasury Shares

FOR IMMEDIATE RELEASE 15 January 2015 LONDON & ASSOCIATED PROPERTIES PLC ("the Company"): ISSUE OF TREASURY SHARES On 15 January 2015 the Company issued 598,373 shares from Treasury to coverbonuses and issues under the Company's HMC approved Share Incentive Plan (SIP)to directors and staff at 37.75 pence per share (being the last stock exchangeclosing mid - price). Directors and PDMR's receiving shares and directors' new beneficial holdingtotals are as follows- ADDITIONAL NEW TOTAL % OF ISSUED SHARES HOLDING SHARESDirectors- J A Heller 261,243 1,930,219 2.27% M A Heller 132,452 6,553,541 7.70% A K Thapar 53,675 150,047 0.18% PDMR's- Members of staff 151,003 TOTAL 598,373 shares Following this issue of Treasury shares, M A Heller and his family had aninterest in 48,022,889 shares in the company representing 56.43% of the issuedshare capital net of Treasury shares. The Company now holds 434,618 shares in Treasury. For reporting purposes undersection 198 of the Companies Act 1985 the market should exclude any shares heldin Treasury and use an issued share capital figure of 85,108,093 shares. For further information, please contact: Anil ThaparCompany SecretaryLondon & Associated Properties PLC Tel: 020 7415 5000