Purchase of Own Securities

British Land Co PLC
25 September 2002

                                                             25th September 2002

     PURCHASE OF OWN SHARES AND NOTIFICATION OF ORDINARY RESOLUTIONS

On 24th September 2002 The British Land Company PLC purchased for cancellation
350,000 Ordinary shares of 25p each at a price of 424.8p per share.

                 NOTIFICATION OF ORDINARY RESOLUTIONS

Subsequently The British Land Company PLC has received a letter from Laxey
Partners (UK) Limited, enclosing a requisition notice from 105 Laxey
subsidiaries based in the Isle of Man, requiring the following two resolutions
to be placed before shareholders at the Company's Annual General Meeting
expected to be held in July 2003.

"

1.                  THAT, if he shall not have vacated office as a director of
the Company prior to the moving of this Resolution, Mr John Ritblat be and is
hereby removed as a director of the Company with immediate effect.

2.                  THAT, in order to afford shareholders of the Company the
opportunity to consider and, if thought fit, approve proposals for the
repurchase of some of the ordinary share capital of the Company:

(A)         the directors of the Company are urged to formulate and then submit
to shareholders for approval, proposals under which the Company would invite all
ordinary shareholders to tender their shares for repurchase and cancellation by
the Company, and under which the Company will accept all such tenders (pro rata
to the number of shares tendered by each ordinary shareholder, subject to
modifications to take account of any fraction, which would otherwise arise) up
to 25 per cent. of all the Company's issued ordinary shares at a price per
ordinary share of either: (i) 600p, or (ii) an amount equal to not less than 75
per cent. of the diluted net asset value per share; whichever is the higher;

(B)        for the purpose of this resolution "diluted net asset value per share
" shall mean the fully diluted net asset value per share calculated in
accordance with and using the same accounting policies and practices as set out
in note 17 of the annual report and accounts of the Company for the year ended
31 March 2002 and which for the avoidance of doubt is 803p for the year ended 31
March 2002."


Contacts

The British Land Company PLC:
J H Weston Smith, Chief Operating Officer    tel: [phone]
A Braine, Group Secretary                    tel: [phone]

Finsbury:
Faeth Birch                                  tel: [phone]


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