Director Shareholding

British Land Co PLC
09 January 2003

The British Land Company PLC announces that on 8th January 2003, Mr D A Higgs
and Lord Burns, Directors of the Company, were each allotted 332 shares of 25p
each in the Company at a price of 451 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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