Bond Issue

British Land Co PLC
17 September 2003

17 September 2003

The British Land Company PLC

("British Land")

Issue of further bonds to extend existing securitisation of 35 supermarkets
leased to Sainsbury's

British Land has mandated Eurohypo Investment Banking and UBS Investment Bank to
arrange and to lead manage a further offering of bonds securitising additional
income from 35 supermarkets owned by the British Land Group and leased to J
Sainsbury PLC.

The bonds will be issued by Werretown Supermarkets Securitisations PLC, a UK
special purpose vehicle that issued £575m of Bonds in 2001 for the purpose of
providing long-term debt financing for British Land.

The additional bonds are fully fungible with the existing bonds, which remain
outstanding.

The current offering is expected to raise £70-80 million.  The pre-marketing of
the bonds will commence immediately with  the issue formally launched in early
October.


Contacts:

The British Land Company PLC               Tel: [phone]

Graham Roberts
Peter Clarke


Eurohypo Investment Banking                Tel: [phone]

Caroline Philips


UBS Investment Bank:                       Tel: [phone]

Leland Bunch


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