London & Associated Properties PLC “LAP” or “the Company”

CAPITALISATION ISSUE

LAP announced on 30 April 2010 that it was proposing to make a capitalisation
issue equivalent to 0.8 pence per ordinary share of 10 pence each in the
Company (“Capitalisation Issue Shares”). A resolution to authorise the
capitalisation issue is to be proposed at LAP’s AGM today. Full details are
given in LAP’s annual report for 2009 (Pages 22 and 23) and in the Notice of
AGM Resolution 9 (Page 64).

The entitlement of shareholders on the register at the record date to receive
Capitalisation Issue Shares is based on the average middle market closing
prices on the three days 2, 3 and 4 June 2010. This average price has now been
calculated from the official list prices and is 40.333 pence per Share.

Therefore a holding of 1,000 shares would give an entitlement to 19.835
Capitalisation Issue Shares, which would be rounded down to the nearest whole
number i.e. 19 Capitalisation Issue Shares. The above ratio will be applied to
each shareholder’s existing holding and will be rounded down to the nearest
whole number. No fractions of shares will be issued.

Existing shareholders on the register as at 4 June 2010 are entitled to the new
Capitalisation Issue Shares and share certificates in respect of the
Capitalisation Issue Shares are expected to be posted to shareholders and CREST
accounts will be credited on 2 July 2010.

The Company will apply to the UK Listing Authority for the Capitalisation Issue
Shares to be admitted to the Official List and to the London Stock Exchange for
the Capitalisation Issue Shares to be admitted to trading on its market for
listed securities on 2 July 2010. Subject to the applications being successful
the Capitalisation Issue Shares are expected to be allotted on and dealings in
Capitalisation Issue Shares are expected to begin on 2 July 2010.

The capitalisation issue is in addition to the final dividend of 0.4 pence per
ordinary share payable in cash on 2 July 2010.

Key dates in respect of the final dividend and capitalisation issue:

Ex dividend and Ex capitalisation issue date 2 June 2010

Record date 4 June 2010

Payment of dividend, and allotment and

admission of Capitalisation Issue Shares 2 July 2010

For further information, please contact:

Michael Stevens
Director/Secretary
London & Associated Properties PLC
Tel: 020 7415 5000

END