Directors' Dealings

LAND SECURITIES PLC
20 July 1999

Letter to:  Company Announcements Office

Land Securities 1989 Profit Sharing Scheme

As a consequence of the Finance Act 1996, automatic transfers have recently
taken place of the 1996 appropriation under this scheme.  These transfers, which
took place on 19 July 1999, amount to 84,630 Ordinary shares of £1 each.

Three of the Directors of this Company are Trustees of the Scheme.  Would you
please amend your records to show their current non-beneficial holdings as
follows:-

                              Ordinary shares of £1 each

        I J Henderson                   139,691
        J I K Murray                    139,691
        M R Griffiths                   139,691

The beneficial interests of the Directors are not affected by these transfers.

Letter from:  Land Securities Plc