Bond Buyback

British Land Co PLC
22 November 2007

                  The British Land Company PLC (the "Company")

                  Purchase of £1,475,000 10.25% Bonds Due 2012
                               ISIN: GB0041363655



The Company announces the purchase of £1,475,000 of its outstanding 10.25% Bonds
Due 2012 ("Bonds").  The purchase price of £116.211 represents a spread of 127.5
basis points over the yield on the 5% UK Treasury Gilt due March 2012.

In accordance with the Terms and Conditions the purchased Bonds will be
cancelled as of today's date, reducing the outstanding principal to £215,000.



Enquiries:

The British Land Company PLC
Peter Clarke, Executive Officer                         Tel: [phone]



22 November 2007




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