Director Shareholding

British Land Co PLC
27 August 2004

Notification of monthly investment in the British Land Share Incentive Plan 
('SIP')



Hill Samuel ESOP Trustees Limited (the 'Trustees'), Trustees of the British Land
SIP, today notified the Company that they purchased on 26th August 2004 a total
of 84,623 ordinary 25p shares at a price of 720 pence per share under the 'Free
Share' element of the Company's SIP.   The SIP has been approved by the Inland
Revenue as a share incentive plan under Schedule 8 of the Finance Act 2000.



As participants in the SIP the executive directors named below are deemed to
have an interest in the shares held by the Trustees.



The Company also received notification from the Trustees, that 'Free Shares'
awarded to the Company's executive directors were as follows:


Name                                 Number of 'Free Shares' Awarded
J H Ritblat                           416
J H Weston Smith                      416
N S J Ritblat                         416
R E Bowden                            416
G C Roberts                           416









27th August 2004.








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