Re Repayment of B Shares

Land Securities Group Plc
17 October 2003


17 October 2003

LAND SECURITIES GROUP PLC ('Land Securities')

REPAYMENT OF B SHARES

By 6 p.m. on 10 October valid Forms of Election in respect of 3,099,927 B
Shares, 27% of the B Shares in issue, had been received and not revoked.  These
B Shares will be repaid at 102 pence per share on 17 October.  Monies due in
respect of this payment will be credited to CREST accounts or despatched by
cheque by 24 October.

Following this repayment 8,193,972 B Shares will remain in issue. The next
repayment date for B Shares remaining in issue will be 19 April 2004.


                                     -Ends-

For further information, please contact:

Land Securities
Peter Dudgeon
Tel: [phone]

Financial Dynamics
Stephanie Highett/ Dido Laurimore
Tel: [phone]


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