Substantial Interest

British Land Co PLC
13 October 2000


The British Land Company PLC announces that it received notification on 13th
October 2000, pursuant to sections 198-202 of the Companies Act 1985, that
Merrill Lynch Investment Managers Limited's ('MLIM') aggregate interest in the
Company is 52,576,225 ordinary 25p shares, which represents 10.14% of the
issued share capital of the Company.

This aggregate interest is made up as follows:

Registered Holder                           Number of shares
Nutraco Nominees Limited                    42,069,418
(Designated and Undesignated) 

Stamford Nominees Limited                   90,010
(Designated and Undesignated)               

Mercury Life Nominees Limited               423,291
A/C Noncert

Mercury Life Nominees Limited               102,763
A/C Logica

Other Names                                 9,890,743