Re. One New Change

Land Securities Group Plc
18 January 2006


18 January 2006


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


NEW LANDMARK FOR CITY OF LONDON GETS GO AHEAD


Land Securities has today received a resolution to grant approval from the
Corporation of London's Planning and Transportation Committee for a landmark
retail and office development at One New Change EC4 in the City of London,
designed by Jean Nouvel.

Situated to the east of St Paul's Cathedral, the One New Change development
represents a rare opportunity for comprehensive redevelopment close to St Paul's
and to improve the environment and amenity in this part of the City.

Detailed plans were approved today for the creation of a new 220,000 sq ft
retail destination over three floors; making it one of the largest consolidated
retail spaces across central London. The development will also comprise
approximately 340,000 sq ft of premier office accommodation with extensive new
rooftop public space for local residents, workers and visitors to enjoy
commanding new views across St Paul's and the wider city.

Welcoming the Committee's decision, Mike Hussey, Managing Director of the Land
Securities London Portfolio said:

'One New Change will be a development of exceptional quality which has been
carefully designed to create a vibrant commercial hub for this important City
community.

'Our plans for a wholly new and extensive retail opportunity close to St Paul's
and with access to the City and Southbank will truly open up New Change and
Cheapside as a first class destination for visitors.'


- ENDS -


For further information please contact -

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



Notes to Editors


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 totals over six million sq feet,
including 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 master planning 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






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