Director Shareholding

British Land Co PLC
15 February 2005


Notification of monthly investment in the British Land Share Incentive Plan
('SIP')

Hill Samuel ESOP Trustees Limited (the 'Trustees'), Trustees of the British Land
SIP, have notified the Company that they purchased on 14th February 2005 a total
of 6,831 ordinary 25p shares at a price of 885 pence per share under the
'Partnership' and 'Matching' element of the Company's SIP. Under the terms of
the SIP each eligible participating employee can contribute from monthly salary
to purchase 'Partnership Shares', and the Company matches this by awarding two
'Matching Shares' for every one 'Partnership Share' purchased by participating
employees. The SIP has been approved by the Inland Revenue as a share incentive
plan under Schedule 8 of the Finance Act 2000.

As participants in the SIP the executive directors named below are deemed to
have an interest in the shares held by the Trustees.

The Company also received notification from the Trustees, that of the above
shares acquired by the Trustees, the shares purchased on behalf of the Company's
executive directors were as follows:

Name               Number of Partnership Shares        Number of Matching Shares
                   acquired under the SIP              acquired under the SIP
J H Ritblat                   14                                28
J H Weston Smith              14                                28
N S J Ritblat                 14                                28
R E Bowden                    14                                28
G C Roberts                   14                                28



15th February 2005.





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