Issue of Debt

Land Securities Group Plc
27 January 2006

                                                 NOT FOR RELEASE, PUBLICATION OR
                                             DISTRIBUTION IN WHOLE OR IN PART IN
                                                       OR INTO THE UNITED STATES


LAND SECURITIES GROUP PLC ('Land Securities' / 'Group')

Land Securities to issue £300m bond


Land Securities today announces the pricing of a Sterling denominated eurobond
(the 'Notes'), documented under the Land Securities Capital Markets PLC
Multicurrency Note Programme dated 28 September 2005. Land Securities Capital
Markets PLC is the bond issuing vehicle for the Group funding structure,
established in November 2004.

The Notes have a £300 million principal amount paying 4.625% interest
semi-annually. The issue price is 99.458% with an expected maturity date of 3
February 2011 and legal final maturity of 3 February 2013.

Both Fitch Ratings Limited and Standard & Poor's Rating Services have indicated
that the Notes will be rated AA. Proceeds from the Notes will be used to repay
existing bank borrowings that are currently drawn under the Group's secured bank
facility. Issuance of the new Notes will not affect the ratings of the existing
Land Securities Capital Markets PLC bonds which are also rated AA by both
agencies.

Barclays Capital, Citigroup and JPMorgan Cazenove are acting as Joint Lead
Managers for the issue of the Notes.  BNP Paribas, Calyon, HSBC, Lloyds TSB and
Royal Bank of Scotland are acting as Co-Managers.

This press release does not constitute an offer for sale in the United States.
In the absence of a registration pursuant to the US Securities Act of 1933
neither the Notes nor the guarantees appertaining thereto may be publicly
offered in the United States. No offering of the Notes will be made in the
United States.

This press release does not constitute an offer to sell or the solicitation of
an offer to buy the Notes.


                                     -Ends-


For further information, please contact:

Land Securities Group PLC
Martin Wood, Group Tax & Treasury Director [phone]
Sean West, Treasurer [phone]
Jennifer van der Eem, Investor Relations Manager [phone]



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