Re Contract

3 October 2007

For immediate release

 

Land Securities Group PLC ("Land Securities" / "Group")

Land Securities and K&L Gates exchange contracts on 35% of 'One New Change'
office space, London EC4.

Land Securities announces that it has exchanged contracts with Kirkpatrick &
Lockhart Preston Gates Ellis LLP ("K&L Gates") on the pre-letting of some
120,000 sq ft (11,148 sq m) of office space at its mixed-use development, One
New Change, in the City of London.

K&L Gates will take a lease on the space, which is split across the 4th and 5th
floors, for a minimum term of 15.5 years. They retain an option on a further
16,071 sq ft (1,493 sq m) on the 4th floor until 12 months prior to completion.

Mike Hussey, Land Securities' Managing Director, London Portfolio commented on
the letting;

"K&L Gates shares our confidence in this unique proposition and we are
delighted to have completed the transaction. The combination of its spectacular
setting, opposite St Paul's Cathedral, and its high quality office space means
One New Change will provide K&L Gates with one of the most prestigious HQ
premises in the City."

Peter Kalis, K&L Gates' Chairman and Global Managing Partner  said;" Our move
to One New Change demonstrates the continued growth of K&L Gates in the UK and
across Europe and we are delighted to move into such an outstanding landmark in
London."

Due to complete in Autumn 2010, One New Change comprises 340,000 sq ft (31,587
sq m) of office and 220,000 sq ft (20,439 sq m) of retail space and occupies
the high profile site to the east of St Paul's Cathedral. With a public roof
terrace on the 6th floor and up to 70 retailers housed on the lower three
levels, it is expected to become the new heart of City retailing as well as a
superb City office location.

This latest leasing success brings the total of new office space let by Land
Securities in central London since 1 April 2007 to 575,000 sq ft (53,485 sq m).

DTZ advised Land Securities and CB Richard Ellis advised K&L Gates.

 

                                    -Ends-                                     

For further information, please contact:

Mel Winsor/Mike Hussey              Peter Kalis      
                                             
Land Securities Group PLC           K&L Gates        
                                             
T [phone]               T [phone]
                                             

 

Notes to editor:

Please visit: www.onenewchange.com

 

Land Securities

Land Securities is the UK's leading real estate investment trust. Half our
multi-billion pound portfolio is in London, where we own many landmark
buildings such as the Piccadilly Lights and Westminster City Hall and are
developing some of the Capital's most innovative mixed-use schemes, such as
Cardinal Place, Victoria and New Street Square in Midtown. Land Securities'
investment portfolio also includes around 60 retail parks and shopping centres
such as the Bullring in Birmingham. We are also one of the leading names in
property outsourcing, and through urban community development are involved in
long-term, large-scale regeneration projects in the south-east.