Statement re Re Financing

FOR IMMEDIATE RELEASE 3RD JULY 2014 LONDON & ASSOCIATED PROPERITES PLC £45.0 MILLION DEBT FINANCING London & Associated Properties plc (`LAP' or the `Company'), the focussedretail property investor and asset manager, today announces the successfulcompletion of £45 million financing with Santander and Europa Capital MezzanineLtd. This refinances its entire Royal Bank of Scotland loan and releases fundsfor new acquisitions. The new debt package has a five year term, is fully hedged and has a currentblended interest cost of 4.79% As a result of this refinancing, LAP hasextended its debt maturity profile with £45 million of the Company's £60million debt repayable in July 2019 and a further £10 million not due untilAugust 2022. John Heller, Chief Executive of LAP, commented that: "We are delighted to havecompleted the final step in addressing the Company's legacy loan and derivativepositions. LAP is now better positioned to take advantage of marketopportunities 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 5000John Heller, Chief ExecutiveRobert Corry, Finance Director Baron Philips Associates Tel: 020 7920 3161Baron Philips