Holding(s) in Company

British Land Co PLC
28 January 2002

The British Land Company PLC announces that it received notification on 28th
January 2002, pursuant to sections 198-202 of the Companies Act 1985, that
Merrill Lynch Investment Managers Limited's aggregate interest in the Company is
56,957,379 ordinary 25p shares, representing 10.99% of the issued share capital
of the Company.

This aggregate interest is made up as follows:

Registered Holder                                               Number of shares


Nutraco Nominees Limited                                              30,134,803
(Designated & Undesignated)

Treasury of the Government of Isle of Man                                157,388
A/C 5

Treasury of the Government of Isle of Man                                 69,000
A/C 10

Stamford Nominees Limited                                                 11,000

Merrill Lynch Pension Nominees Limited                                 1,033,981
A/C Noncert

Stamford Nominees Limited                                                 36,000
A/C Charty

HSBC Global Custody Nominees Limited                                     296,489

Chase Nominees Limited                                                 4,536,241

Nortrust Nominees Limited                                              2,589,065

State Street Nominees Limited                                            122,222

MSS Nominees Limited                                                     308,288

Bank of New York Nominees Limited                                        600,747

RBSTB Nominees Limited                                                 1,221,776

29 Gracechurch Street Nominees Limited                                   727,027

Brown Bros. Harriman Nominees Limited                                    100,000

BT Globenet Nominees Limited                                             179,700

Junction Nominees Limited                                              3,876,468

Other Names                                                           10,957,184

Total                                                                56,957,379.



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