Bond Closure

Land Securities Group Plc
27 February 2003


27 February 2003


LAND SECURITIES PLC ('Land Securities')
£400m 5.875% bonds due 2013 and £200m 6.375% bonds due 2024

Land Securities PLC, a subsidiary of Land Securities Group PLC, announces the
successful closure of the £400m 5.875% bonds due 2013 and £200m 6.375% bonds due
2024 issued on Friday 14 February.

The net proceeds of £592.6m will be used to repay existing bank debt.

The company has also taken the opportunity to close out certain related interest
rate swaps, originally created to cap the cost of future debt.  These will
result in a £23.5m exceptional interest write-off this year but lower interest
charges in future.

                                     -Ends-



For further information, please contact:

Land Securities
Martin Wood / Jennifer van der Eem
Tel: [phone]
www.landsecurities.com

Financial Dynamics
Stephanie Highett / Steve Jacobs
Tel:  [phone]


                      This information is provided by RNS
            The company news service from the London Stock Exchange