6% Bond Redemption

British Land Co PLC
22 June 2004

The British Land Company PLC

£150,000,000 6 per cent. Subordinated Irredeemable Convertible Bonds (the
"Bonds")

ISIN: XS0049552697 (Bearer Bonds)

ISIN: GB0001363927 (Registered Bonds)


The British Land Company PLC announces that it has today given notice to the
holders of the Bonds pursuant to Condition 8(c)(ii) of the Bonds to redeem the
Bonds at their principal amount plus accrued interest on 2 August 2004.
22 June 2004



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