Re Disposal

Land Securities Group Plc
17 November 2004


17 November 2004



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



LAND SECURITIES AGREES SALE OF BOWATER HOUSE, KNIGHTSBRIDGE


Land Securities Group PLC has agreed the unconditional terms for the sale of
Bowater House to a Guernsey based property development vehicle.  The transaction
is expected to complete in the first quarter of 2005.

The sale was agreed following the Group's submission of a detailed planning
application to Westminster City Council for the residential redevelopment of the
250,000 sq ft Bowater House office building.

The proposed scheme, designed by Hamilton Associates, will create 101 apartments
set above 16,000 sq ft of flagship retail accommodation and includes the
creation of a new open space for Knightsbridge.

Mike Hussey, Land Securities' Managing Director, London Portfolio, commented:

'This transaction reflects our strategy of releasing value as we create it from
our London Portfolio.  Having developed the plans for a residential scheme which
pays justice to the importance of this site as a world class residential
location, we are delighted that our efforts are now recognised by the
willingness of a quality residential developer to acquire this site - at a
premium to our last valuation.'

                                    - ends -



For further information please contact:


Emma Denne/Mike Hussey
Land Securities Group
Tel: [phone]


Stephanie Highett/Jonathon Brill
Financial Dynamics
Tel: [phone]





Note to Editors

Land Securities is a FTSE 100 company, quoted on the London Stock Exchange.  It
has been at the forefront of the UK's commercial property industry for 60 years.
Today, the Group maintains its market leading position as the UK's largest
quoted property company by providing commercial accommodation and property
services to a wide range of occupiers.  The Group's objective is to create
attractive and sustainable returns for its shareholders through its activities,
which include property investment, development and property outsourcing.

Land Securities holds a market leading position in three areas of the UK
commercial property market:



•   Central London offices

•   Retail, including shopping centres and out of town retail parks across
    the UK and

•   Property outsourcing.



Its £8 billion investment portfolio includes more than 810,000 sq m of office
space in Central London and substantial retail holdings in Oxford Street,
Tottenham Court Road and Notting Hill Gate.  In addition the Group owns 15
shopping centres and 24 retail parks located across the UK.

It has a substantial development programme with over 20 development projects
either underway or being planned.  Projects include regeneration schemes in
historical British cities, three major retail-led urban regeneration schemes and
eight Central London developments.  The Group is also masterplanning one of
Europe's largest regeneration schemes in Kent Thameside.

The Group leads the market in property outsourcing where, through Land
Securities Trillium, it provides accommodation and property-related services to
the Department for Work and Pensions, the BBC, Norwich Union and through a joint
venture, Telereal, to BT.

The Group is committed to environmental initiatives and community involvement.
This has been recognised by the Group's inclusion in the BiTC Corporate
Responsibility Index, FTSE4Good Index and the Dow Jones Sustainability Index.
Its environmental performance has been recognised by the award of three Green
Apple Environment Awards and receiving ISO14001 accreditation for its work with
the DWP.


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