Re St David's Scheme

Land Securities Group Plc
11 March 2004



11 March 2004





LAND SECURITIES GROUP PLC ('Land Securities')

JOHN LEWIS TO ANCHOR ST DAVID'S SCHEME, CARDIFF



Land Securities and Capital Shopping Centres together, as the St David's
Partnership, announce that John Lewis has agreed Heads of Terms to anchor the
£500 million St David's 2 development in Cardiff city centre.



The 1,000,000 sq ft (92,900 sq m) mixed-use scheme, is one of the largest
proposed retail led developments in the UK and will include new shops, cafes and
restaurants, leisure space, offices and up to 300 residential units.  Set around
streets, arcades and squares breathing new life and vibrancy into Cardiff, the
development will be an attractive addition to the existing 350,000 sq ft (32,515
sq m) St David's Shopping Centre and help Cardiff to consolidate its position as
a major national and international Capital City.



The 240,000 sq ft department store will be the first shop in Wales for John
Lewis reflecting their committed expansion programme.  The modern four-storey
landmark building will have a strong external dimension, including prominent
frontages onto The Hayes and a new public piazza at its southern end.



Peter Cleary, Head of Land Securities Retail Development, commented for the St
David's Partnership:



'We are delighted to have John Lewis on board and are confident that they will
contribute significantly to the continuing growth of Cardiff as a major centre
for shopping, leisure and tourism. This is an important first step in our
pre-letting programme to attract world class retailers to the City.'



'John Lewis' commitment to the St David's scheme represents a milestone in the
delivery of this major regeneration development which will help further
establish Cardiff as a top UK and European retail destination.'



The project will create in the region of 1,000 construction jobs and circa 2,500
permanent new jobs upon completion.



St David's 2 was granted outline planning resolution by Cardiff County Council
in June 2003 and given Assembly support in July 2003.  Detailed planning
approval will be sought later this year and it is anticipated the development
will be on site in 2005 with completion and opening in 2008.





                                    - Ends -





For further information please contact:



Mel Winsor
Land Securities
Tel: [phone]



Steve Jacobs
Financial Dynamics
Tel: [phone]



Notes to Editors:



Land Securities Group PLC



Land Securities Group PLC provides commercial accommodation and property
services to a wide range of occupiers across the United Kingdom. Its £8 billion
portfolio is focused on four core sectors: offices and shops in Central London,
shopping centres, out-of-town retail parks and industrial properties located in
the South East. In addition, the group is a market leader in the new area of
total property outsourcing, providing accommodation and property related
services to Government and major corporations such as BT and the BBC. Through
its extensive development programme, Land Securities is committed to the
retail-led regeneration of several major city centres and brownfield sites in
the south east, as well as new office schemes in central London.




                      This information is provided by RNS
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