Director Shareholding-Replace

Land Securities Group Plc
05 October 2004



The following amendment has been made to RNS 5620D released at 17.29 on 30
September 2004.

The number of shares disposed of should read 17,048 and not 20,500 as originally
shown.

The total amount of shares now held is 12,776 and not 9,324 as originally show.





                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS


1. Name of company

Land Securities Group PLC


2. Name of director

Ian Ellis


3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18 or in respect of a non-beneficial
interest

As above


4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them (if notified)

As above


5. Please state whether notification relates to a person(s) connected with the
director named in 2 above and identify the connected person(s)

As above


6. Please state the nature of the transaction. For PEP transactions please
indicate whether general/single co PEP and if discretionary/non discretionary

Exercise of Executive Share Option


7. Number of shares / amount of stock acquired

20,500   @  869p


8. Percentage of issued class

Immaterial


9. Number of shares/amount of stock disposed

17,048


10. Percentage of issued class

Immaterial


11. Class of security

Ordinary 10p


12. Price per share

1165.2495p


13. Date of transaction

30 September 2004


14. Date company informed

30 September  2004


15. Total holding following this notification

12,776


16. Total percentage holding of issued class following this notification

Immaterial


17. Any additional information




18. Name of contact and telephone number for queries

Peter Dudgeon   020 7413 9000


25. Name and signature of authorised company official responsible for making
this notification

Peter Dudgeon,  Company Secretary


Date of Notification

5 October 2004


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for loss of business or loss of profits) arising in contract, tort or otherwise
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it, or from any action or decision taken as a result of using this document or
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