Re: Bond Issue

Land Securities Group Plc
01 February 2007

1 February 2007


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

Land Securities to issue £500m bond


Land Securities today announces the pricing of a Sterling denominated eurobond
(the 'Notes'), documented under the Land Securities Capital Markets PLC £6
billion Multicurrency Note Programme dated 18 September 2006. Land Securities
Capital Markets PLC is the bond issuing vehicle for the Group funding structure,
established in November 2004.

The Notes have a £500 million principal amount paying 5.125% interest
semi-annually. The issue price is 99.898% with an expected maturity date of 7
February 2034 and legal final maturity of 7 February 2036.

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.

Citigroup, JPMorgan Cazenove and Royal Bank of Scotland are acting as Joint Lead
Managers for the issue of the Notes. Barclays Capital, BNP Paribas, Commerzbank,
HSBC and Lloyds TSB 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 info, please contact:

Martin Wood                                              Sean West
Group Tax & Treasury Director                            Treasurer
Land Securities Group PLC                                Land Securities Group PLC
T [phone]                                   T [phone]




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