Director Shareholding

British Land Co PLC
11 January 2005



The Company announces that it yesterday received notification from BL ESOP
Limited, Trustees of The British Land Share Ownership Plan that 112,500 ordinary
25p shares of the Company were released for nil consideration to G C Roberts, a
director of the Company, on 10th January 2005. The release is pursuant to an
award made on 9th January 2002, under the Company's Restricted Share Plan, which
vested yesterday on attainment of the performance target.  Following the
vesting, Mr Roberts sold 68,250 of these shares at an average price of 872.5
pence per share, on 10th January 2005.



The British Land Share Ownership Plan is a discretionary trust established for
the benefit of employees, including executive directors of the Company, to
facilitate the operation of its long-term share incentive schemes.   Therefore,
all the executive directors are taken as interested in this release in their
capacity as members of the class of discretionary beneficiaries of the trust.



11th January 2005.



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