Director Shareholding

British Land Co PLC
22 July 2002

The British Land Company PLC announces that on 8th July 2002, Mr D A Higgs and
Lord Burns, Directors of the Company, were each allotted 270 shares of 25p each
in the Company at a price of 555 pence per share.

These shares have been allotted pursuant to their standing instructions to
receive shares as part satisfaction of their annual directors' fees.

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