Re Directorate

Land Securities PLC
20 December 2001

20 December 2001


Land Securities PLC ('Land Securities' / 'the Company')

Board Announcement

Land Securities announces that Manish Chande, who joined the Board when the
Company acquired Trillium in November 2000 intends to step down in 2002 at the
next Annual General Meeting.  He will remain Chief Executive of Land
Securities Trillium until that date, after which he will continue to act for
Land Securities as a consultant for a further twelve months.

Commenting on the announcement Manish Chande said 'I am confident that within
the Land Securities group, Trillium will continue to prosper.  However, since
founding the company five years ago and having worked very hard to build it up
I now feel the need to create a greater balance in my professional and
personal life.'

Ian Henderson added 'Following the acquisition of Trillium, we have built upon
Manish's original achievements to create a business that has become the UK's
market leader in the provision of total property services.   This has been
proven by the recent completion of the landmark transactions with the BBC and
BT.  While we are sad that Manish has taken this decision, we fully understand
his reasons for doing so.  Trillium has a strong management team which has a
tremendous opportunity to grow the business further.'

Land Securities also announces that Peter Walicknowski Director, Strategy and
Business Development, who joined the Board in September 2000, has resigned
with immediate effect.

Ian Henderson commented that 'Peter has had a positive impact on the Company's
direction and his contribution has been invaluable.  Now that the company's
strategy has been defined, and as Land Securities is only the second company
Peter has worked for, he feels it is the right time to pursue a broader range
of experiences.  Looking to the future Peter will also be exploring
opportunities in Europe and elsewhere including Australia where he and his
wife have families.'

This announcement is the outcome of independent decisions taken by Manish
Chande and Peter Walicknowski.





                                   - Ends -





For further information



Land Securities

Ian Henderson/Emma Denne

020 7024 5478/5462/3742



Financial Dynamics

Stephanie Highett/Dido Laurimore

020 7831 3113


Notes to editors



Land Securities PLC, the UK's leading quoted provider of commercial property
and property related services is committed to the creation of long-term and
sustainable returns for shareholders.  It achieves this by creatively managing
an £8 billion investment portfolio as well as implementing a major development
programme and providing total property services to occupiers in the public and
private sectors.



Land Securities' strategies are to:



*         diversify the business to increase profits from non-traditional
sources

*         extract above average returns from its properties within its
existing investment portfolio

*         develop new buildings or regenerate older ones so as to maintain a
modern investment portfolio

*         develop a range of alternative solutions to meet businesses property
needs



The Company also benefits from scale and a secure balance sheet that, it
believes, provide competitive advantage.



As part of its strategy the Company acquired Trillium, now called Land
Securities Trillium, to enable Land Securities to offer a total property
outsourcing service.  Land Securities Trillium combines capital, estate and
facilities management expertise in a total outsourcing package. In 1998, it
won the PRIME contract to own and manage the majority of the Department of
Social Security's property portfolio. In 2001 Land Securities Trillium entered
into a 30-year contract with the BBC for the outsourcing of the BBC's London
and Scottish Estates.  In addition Land Securities Trillium will also through
Land Securities Development be providing 50,400 square metres of new
accommodation for the BBC at White City.  Earlier this month Land Securities
Trillium completed, through a 50:50 non-consolidated joint venture, the
acquisition of the majority of British Telecom's property estate for £2.38
billion.  This acquisition was partly funded by the largest asset-backed
securitisation in the United Kingdom.