Redemption of B Shares

Land Securities Group Plc
15 October 2004



Land Securities Group PLC



For immediate release



15 October 2004



                       Redemption of Outstanding B Shares



Land Securities Group PLC ('Land Securities') announces that consequent to the
announcement of 13 September 2004 regarding the compulsory redemption of all
outstanding B shares ('B Shares'), it has today redeemed all the remaining
6,532,895 B shares in issue at a value of 102 pence per B Share plus the
outstanding accrued dividend.  The B Shares' listing on the London Stock
Exchange has been cancelled.



Crest accounts will be credited today, and cheques in respect of payment of the
redemption proceeds will be despatched on or before 22 October 2004.



Two copies of the circular dated 13 September 2004 have been submitted to the UK
Listing Authority and are available for inspection at the UK Listing Authority's
Document Viewing Facility.



Enquiries:



Peter Dudgeon

Company Secretary

Land Securities Group PLC

020 7413 9000








                      This information is provided by RNS
            The company news service from the London Stock Exchange