Director Shareholding

British Land Co PLC
02 March 2004


The British Land Company PLC announces the following dealings by Directors of
the Company, in the Company's Ordinary Shares of 25p each, all on 1st March
2004, under the Company's Save as you Earn Share Option Scheme.

Mr J H Ritblat and Mr J H Weston Smith each exercised their options over 4,753
shares at 355 p per share.  Further, Mr J H Ritblat was granted an option over
1,954 shares (exercisable at 472 p per share between 01/03/07 and 31/08/07) and
Mr J H Weston Smith was granted an option over 3,358 shares (exercisable at 472
p per share between 01/03/09 and 31/08/09).


2nd March 2004

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