Re Joint Venture

Land Securities Group Plc
31 January 2006

31 January 2006



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

LAND SECURITIES TRILLIUM AND MILL GROUP FORM JOINT VENTURE PARTNERSHIP

Land Securities Group PLC announces that its property outsourcing business Land
Securities Trillium and Mill Group have now completed the formation of a joint
venture company, Investors in the Community Group Limited.  As announced on 11
January, 2006, the 50/50 joint venture will be expanding key parts of Mill
Group's existing Investors in the Community programme and will build on the
ongoing collaboration between the two organisations which already involves a
joint bid for a Building Schools for the Future ('BSF') project.

Investors in the Community aims to cement its leading position in the BSF and
community Public Private Partnership ('PPP') markets through investment in new
socially responsible projects.  It is short-listed for four BSF projects and
will continue to seek additional opportunities in this and other markets.



                                    - ends -



For further information, please contact:


Land Securities                              Mill Group / Investors in the Community
Ian Ellis/Emma Denne                         David Toplas
Tel: [phone]                     Tel: [phone]

Financial Dynamics (for Land Securities)     Republic (for Mill Group / IIC)
Stephanie Highett / Dido Laurimore           Pippa Goodman
Tel: [phone]                     Tel: [phone]




Notes to Editors

Full details of the transaction were outlined in the announcement on 11 January,
2006, available on www.landsecurities.com/document library

Land Securities Group PLC

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 over 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:

  • Retail,
  • London offices and
  • Property outsourcing.

Its £11.5 billion combined investment portfolio includes office and retail space
in Central London, 28 shopping centres, 32 retail parks and 11 supermarket
properties located across the UK.

It has a substantial development programme including major retail-led urban
regeneration schemes and Central London mixed-use 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, Barclays Bank,
DVLA and through Telereal to BT.

The Group is committed to environmental initiatives and community involvement
recognised by the Group's inclusion in the BiTC Corporate Responsibility Index,
FTSE4Good Index and the Dow Jones Sustainability Index.

For more information on Land Securities visit www.landsecurities.com

Mill Group - Is a privately owned property and finance group established 13
years ago by its chief executive David Toplas. It has focused on the Public
Private Partnership ('PPP') programme since its inception, combining asset
procurement and long-term management services with funding from institutional
funds that it promotes and manages.

The Investors in the Community ('IIC') programme, founded by Mill Group three
years ago and managed by the company, delivers socially responsible PPP and PFI
projects that provide real benefits, through education and healthcare, to local
communities.

Investors in the Community provides:

  • Partnering and facilities delivery
  • Long-term investment from in-house institutional funds - in recognition of
    its innovative and community-focused approach, IIC was recently shortlisted
    by Project Finance International as Global Private Equity House of the Year
    2005
  • Added value through independence and professionalism in construction
    procurement, service delivery, property development and urban regeneration
  • Community sponsoring.



Investors in the Community is committed to genuine, long-term partnership with
the public sector, funding projects and managing them for the duration of their
working life.  Across the UK, the programme is providing inspiring learning
environments to 15,000 pupils; healthcare facilities to 2.5 million people;
library services to 1 million people; and office accommodation for hundreds of
council workers serving their communities.  Its high profile projects include
the new Jubilee Library in Brighton - winner, in 2005, of the Prime Minister's
Better Public Building Award and the Regeneration Awards' Best Design-led
Regeneration project, as well as being shortlisted for the Stirling Prize.



The Investors in the Community programme is backed by long-term investment funds
from public and private sector institutional investors including the London
Pensions Fund Authority, Norwich Union/Morley and Clerical Medical/Insight
Investment.



For more information on Investors in the Community and Mill Group visit
www.investorsinthecommunity.com.






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            The company news service from the London Stock Exchange