Third quarter valuation and business update

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Great Portland Estates plc announces that it has restructured the occupational lease with Intesa Sanpaolo S.p.A. (“Intesa”) at 90 Queen Street extending the term certain from under three years to ten years.

In today's Interim Management Statement, the Directors of Great Portland Estates plc ("GPE" or "Group") announce an update on trading, as well as the quarterly valuation of the Group's properties as at 31 December 2010. Details of the Group's recent valuation and rental value trends are set out in the appendices.