Substantial Interest

British Land Co PLC
29 June 2000


The British Land Company PLC announces that it received notification, on 28th
June 2000, under the Companies Act 1985, Section 198, that the interest of
Schroder Investment Management Limited and its subsidiaries and affiliated
companies in the ordinary share capital of the Company is 67,362,082 shares,
representing 13.004% of the total issued share capital.

By virtue of Section 203 of the Act Schroders plc are also deemed to be
interested in the above shares