Re. Bond Issue

Land Securities Group Plc
28 October 2005


28 October 2005


LAND SECURITIES GROUP PLC ('Land Securities' / 'the Group')
Land Securities issues £400m 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 £400 million principal amount paying 4.875% interest
semi-annually. The issue price is 99.551% with an expected maturity date of 7
November 2017.  The offer is expected to close around 7 November 2005.

Both Fitch Ratings and Standard and Poor's have indicated that the Notes will be
AA rated, although preliminary ratings have not yet been assigned.  Proceeds
from the Notes will be used to repay existing bank borrowings that are currently
drawn under the structure'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 AA/AA rated.

The Notes are secured against an asset pool which was valued at £7.7 billion at
28 September 2005.  Citigroup, HSBC and Royal Bank of Scotland acted as Joint
Bookrunners for the new issue.

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.

                                    - End -

For further information, please contact:

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



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