Director Shareholding

British Land Co PLC
10 January 2002


The British Land Company PLC announces that a grant of 75,000 ordinary shares
of 25 pence each in the Company was conditionally awarded on 9th January 2002
to Graham Roberts, an Executive Director.   This award was made pursuant to a
recommendation of the Company's remuneration committee.



This award was made under the Company's restricted share plan, which was
approved by shareholders in General Meeting.  Awards are held in trust for a
normal minimum retention period of three years and lapse after five years.
Shares are only realised on achievement of a performance target set on advice
from Bacon & Woodrow, consultant actuaries, and following consultation with
the Association of British Insurers and the National Association of Pension
Funds.