Re: IIC

Land Securities Group Plc
01 March 2007



1 March 2007


LAND SECURITIES ACQUIRES REMAINING INTEREST IN IIC JOINT VENTURE


Land Securities Group PLC announced today that its property partnership
business, Land Securities Trillium ('LST'), has purchased the remaining interest
in Investors in the Community Group Limited ('IIC'), its joint venture with Mill
Group.  LST will pay Mill Group a total of £7.4 million for the remaining 50%
interest in IIC.



Since creating the partnership in January 2006, IIC has been focused on
advancing its position in the Building Schools for the Future ('BSF') and
community Public Private Partnership ('PPP') markets.  It is currently
short-listed for major BSF projects in Islington and Kent with an anticipated
value of circa £500 million and will continue to seek additional opportunities
in socially responsible community projects.



Ian Ellis, Chief Executive of Land Securities Trillium, commented on the
transaction: 'LST believes that the total ownership of IIC together with the
recent acquisition of SMIF will provide the Group with a broad reach into its
target markets, embracing property partnerships and both primary bidding and
acquisition of secondary Public Private Partnerships.



'The integration of the three businesses will give us a very strong origination
capability and provide a clear differentiation in terms of our ability to
generate future value for shareholders.'



IIC currently manages on behalf of institutional investors a £650m portfolio
comprising seventeen secondary and six primary schools and twenty-two local
authority and community health sector facilities.



All forty nine IIC employees will transfer to LST.



                                     -Ends-

For further info, please contact:


Emma Denne/Ian Ellis                                             Dido Laurimore
Land Securities Group PLC                                        Financial Dynamics
T [phone]                                            T [phone]




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