Interim Management Statement

LONDON AND ASSOCIATED PROPERTIES PLC - Interim Management Statement

PR Newswire

London, May 17

FOR IMMEDIATE RELEASE

London & Associated Properties PLC ("LAP" or "the Company"), the specialistretail focused property investor, today releases its Interim ManagementStatement for the period from 1 January 2013 to 17 May 2013.

Our Annual Report & Accounts for the year to 31 December 2012 were released toshareholders on 30th April 2013.

Trading conditions remain challenging since we last updated shareholders;however, we continue to enjoy the same high occupancy levels as previouslyreported. We believe this is due to the strategy adopted some years ago ofeither owning shopping centres in locations that offer a significant experiencebeyond the simple acquisition of goods, or in convenience/value locations.Demand from tenants remains positive, and where we have marketed units we haveconsistently been pleased with the levels of interest.

We recently extended until July our revolving credit facility for £44.2 millionwith Royal Bank of Scotland. Negotiations with the Bank are nearing completionand we will report separately to shareholders once this refinancing isconcluded.

London & Associated Management Services Ltd ("LAMS"), our asset managementsubsidiary, continues to work closely with Lloyds Bank on the Agora Portfolioof shopping centres and is working through a number of management initiativesthat we had originally identified.

LAMS also manages Langney Shopping Centre, Eastbourne on behalf of a Jerseyunit trust in which LAP holds a 12.5% interest. We have submitted a planningapplication to significantly extend this Centre and create c40,000 sq ft ofadditional retail space. This shopping centre is currently closed following aroof collapse in the heavy rain experienced at the end of last year. We areworking with professional advisers and expect to claim any losses from ourinsurers. The shopping centre should commence a phased reopening over the nexttwo months. As part of this reopening, Tesco, our anchor store at the Centre,is undertaking significant refurbishment.

Contact:

London& Associated Properties PLC Tel: 020 7415 5000

John Heller, Chief Executive

Robert Corry, Finance Director

Baron Phillips Associates Tel: 020 7920 3161

Baron Phillips