LandSec reaches first close on Trillium PPP jv

For immediate release

14 December 2007

Land Securities Group PLC ("Land Securities")
Land Securities reaches first close on Trillium PPP joint venture

Land Securities Group PLC has today announced the first closing of Trillium PPP
Investment Partners (Trillium Partners), the joint venture established to
enable third party investors to gain exposure to Land Securities Trillium's
Public Private Partnership contracts (including their Public Finance Initiative
work).

Including the 15% equity stake which Land Securities Trillium intends to hold
over the long term, Trillium Partners has now received firm commitments for 67%
of the equity and remains on target to reach financial close by the end of
March 2008. Together with the debt financing completed last month, Trillium
Partners has now raised over 83% of its initial capital requirement of £1.136
billion.

Equity partners who have joined the joint venture at first close alongside Land
Securities Trillium are Halifax Bank of Scotland plc through its wholly owned
subsidiary, Uberior Infrastructure Investments, Victorian Funds Management
Corporation of Australia and funds from Bank of Ireland.

Trillium Partners is the largest investment vehicle of its kind focused on PPP
contracts. With the successful first close achieved, Trillium Partners will
start acquiring projects from Land Securities Trillium in early 2008.

Commenting on the success of the first close, Land Securities Chief Executive
Francis Salway said:

"The purchase of the Secondary Market Infrastructure Fund in February 2007 was
the Company's largest ever acquisition and was made with the intention of
establishing a joint venture to bring in third party investors alongside our
own long-term investment. Reaching a successful first close in the prevailing
credit market conditions is a real achievement and evidence of the strength of
the PPP business we have built and the reputation of the Trillium management
team."

Trillium Partners aims to grow progressively over the next five years to an
invested value of nearly £2 billion through the acquisition of mature
operational PPP assets.

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Contact details:

Donal McCabe John Sunnucks

Land Securities Group Tulchan Communications

Tel: [phone] Tel: [phone]

Notes to editors

Land Securities is the UK's leading Real Estate Investment Trust with a
national portfolio of commercial property worth over £14 billion, which
includes some of Britain's best-known shopping centres as well as London
landmarks such as the Piccadilly Lights. Our multi billion pound development
programme is transforming regional city centres, key sites in Central London
and delivering long-term, large-scale regeneration projects in the south-east.
Through Trillium, we are market leaders in the property outsourcing and Public
Private Partnership market.