Director/PDMR Shareholding

British Land Co PLC
17 August 2005


The British Land Company PLC


The British Land Company PLC (British Land) announces that, following completion
of the acquisition of Pillar Property PLC (Pillar) on 28 July 2005 options over
a total of 810,314 ordinary 25p shares in British Land (British Land Shares)
were formally granted on 17 August 2005 in consideration for the release of
options over a total of 816,000 ordinary shares in Pillar (Rollover Options).
The terms of the option exchange were established by reference to the respective
market values of British Land Shares and Pillar ordinary shares on 27 July 2005.

The following Rollover Options were granted to persons who are either a director
of, or a person discharging managerial responsibility (PDMR) in relation to,
British Land:
 
    Name           Status      No. of British Land    Exercise Price per British
                                                         Shares Land Share
Patrick Vaughan    Director         190,662              387.4 pence
Andrew Jones       PDMR             190,662              387.4 pence




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