Director Shareholding

British Land Co PLC
21 February 2005


Notification of 'Dividend' Share Purchase in the British Land Share Incentive
Plan ('SIP).

On 18th February 2005 Hill Samuel ESOP Trustees Limited (the 'Trustees'),
Trustees of the British Land SIP, notified the Company that they had purchased
on 18th February 2005 a total of 1,938 ordinary 25p shares at a price of 885 p
per share under the 'Dividend' element of the Company's SIP. Under the terms of
the SIP net dividends paid on the 'Free', 'Partnership', 'Matching' and
'Dividend' shares held by the Trustees on behalf of eligible participating
employees, are used to purchase further 'Dividend' shares for each eligible
participating employee. 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 Dividend shares acquired under the SIP
J H Ritblat                            12
J H Weston Smith                       12
N S J Ritblat                          12
R E Bowden                             12
G C Roberts                            12



21st February 2005.




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