Director Shareholding

Land Securities Group Plc
22 November 2004

                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS



1. Name of company


Land Securiites Group PLC



2. Name of director


Francis Salway



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


75,000 shares exercised



8. Percentage of issued class


Immaterial



9. Number of shares/amount of stock disposed


60,864 sold



10. Percentage of issued class


Immaterial



11. Class of security


Ordinary 10p shares



12. Price per share


35,000 @ 801.0p;  40,000 @ 869.0p



13. Date of transaction


19 November  2004



14. Date company informed


19 November 2004



15. Total holding following this notification


38,414



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



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


Peter Dudgeon  Company Secretary



Date of Notification


22 November 2004



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