Substantial Interests

British Land Co PLC
4 October 2000


The British Land Company PLC announces that it received notification today by
a letter dated 3rd October 2000, pursuant to sections 198-202 of the Companies
Act 1985,that:

Merrill Lynch Investment Management, ML Invest plc, ML Invest Holdings
Limited, ML Invest, Inc, Merrill Lynch Group Inc and Merrill Lynch & Co., Inc.
have an interest in aggregate in 51,921,165 ordinary 25p shares, representing
10.02% of the issued share capital of the Company.

The Company has further received notification today by a letter dated 4th
October 2000, pursuant to sections 198-202 of the Companies Act 1985 that
Merrill Lynch Investment Management, ML Invest plc, ML Invest Holdings
Limited, ML Invest, Inc, Merrill Lynch Group Inc and Merrill Lynch & Co., Inc.
no longer have a notifiable interest in the Company.