AGM Resolutions

British Land Co PLC
26 February 2003

                                                              26th February 2003





                        NOTIFICATION OF ORDINARY RESOLUTIONS

                  AND WITHDRAWAL OF PREVIOUSLY TABLED RESOLUTION



The British Land Company PLC has today received a letter from Laxey Partners
Limited, enclosing a requisition notice from 105 Laxey subsidiaries based in the
Isle of Man, requiring the following four resolutions to be placed before
shareholders at the Company's Annual General Meeting expected to be held in July
2003:





1.   THAT, if he shall not have vacated office as a director of the Company
prior to the moving of this resolution, Mr John Ritblat be and is hereby removed
as a director of the Company with immediate effect.





2.   THAT, if they have not done so prior to the moving of this resolution, the
directors of the Company be urged to effect within 3 months of the date of this
resolution the separation of the roles of Chairman and Managing Director so that
such posts are no longer held by the same person and that the role of Chairman
of the Company is a non-executive position.



3.   THAT, the directors of the Company be urged to formulate and then submit to
ordinary shareholders of the Company for approval by no later than the date of
the publication of the Company's results for the six months ended 30th September
2003, proposals pursuant to which greater value can be delivered in the near to
medium term to shareholders than is available under a complete realisation of
all the assets of the Company.



4.   THAT, subject to Resolution 3 being passed, if the directors fail to
formulate and submit to ordinary shareholders proposals of a type referred to in
Resolution 3 above, or in the event that the directors consider that no
alternative would provide greater value in the near to medium term to
shareholders than a realisation in full of the Company's assets, the directors
of the Company be urged to formulate and then submit to ordinary shareholders of
the Company for approval proposals pursuant to which the assets of the Company
would be fully realised and the value realised returned to shareholders "



The notice also includes the following:



" WITHDRAWAL OF PREVIOUSLY TABLED RESOLUTIONS:



Given the new proposals above, we hereby withdraw the second resolution proposed
in our notice delivered to the Company under section 376 of the Act on 24th
September 2002, which urged the British Land Board to formulate proposals to be
submitted to shareholders for the buy back of up to 25% of the Company's shares
at a price of 600p or at a price equal to 75% of the net value of its assets."


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