Holding in Company

British Land Co PLC
1 November 2001


The British Land Company PLC announces that it received notification on 1st
November 2001, pursuant to sections 198-202 of the Companies Act 1985, that
Merrill Lynch & Co. Inc's aggregate interest in the Company is 62,574,813
ordinary 25p shares, representing 12.07% of the issued share capital of the
Company. Details of this disclosure of interest by Merrill Lynch are as
follows:


ML Invest Holdings Limited and ML Invest, Inc, being certain holding companies
of Merrill Lynch Investment Managers Limited ( 'MLIM' ), have interests,
through MLIM, in the share capital of the Company as follows:



Registered Holder                                      Number of Shares
Nutraco Nominees Limited                               34, 734, 650

(Designated & Undesignated)
Merrill Lynch Pensions Nominees Limited                1,005,211

A/C Noncert
Stamford Nominees Limited                              11, 000

(Designated & Undesignated)
Stamford Nominees Limited                              36,000

A/C CHARTY
Treasury of the Government of the Isle                 157,388

Of Man A/C 5
Treasury of the Government of the Isle                 69,000

Of Man A/C 10
Chase Nominees Limited                                 4,884,341
Nortrust Nominees Limited                              2,484,569
Mss Nominees Limited                                   574,093
RBSTB Nominees Limited                                 989,473
Junction Nominees Limited                              463,800
BONY Nominees Limited                                  802,747
29 Gracechurch Street Nominees Limited                 701,227
BT Globenet Nominees Limited                           179,700
Other Names                                            14,495,634
Total:                                                 61,588,833



Merrill Lynch Group Inc and Merrill Lynch & Co., Inc., which are holding
companies of MLIM and of certain other companies, have interests in aggregate
in the relevant share capital of the Company as follows:


Merrill Lynch Group, Inc                             61,784,612

Merrill Lynch & Co., Inc                             62,574,813


1st November 2001