Directors' Interests

British Land Co PLC
1 December 2000


The British Land Company PLC announces the following directors' transactions
in the Company's securities.

On 30th November 2000, awards of the British Land 6% Subordinated Irredeemable
Convertible Bonds, made on 13th October 1997  under the British Land
Restricted Share Plan, vested on attainment of the performance target . The 
Plan was adopted by shareholders in General Meeting and its performance target
was approved by the Association of British Insurers and the National
Association of Pension Funds. The payments are subject to tax at 40% at
vesting.                                               


Director                      £ nominal of 6% Bonds

J H Ritblat                   1,179,000
J H Weston Smith                403,500
N Ritblat                       280,500
R E Bowden                      177,000
S Adam                           60,000 

On the same day Messrs J H Ritblat, Weston Smith, Bowden and Adam sold the
above released bond awards at a price of £100 per cent and 69 days accrued
interest. 

Mr N Ritblat, also on 30th November 2000, sold  24,100 British Land ordinary
shares at a price of 461p per share and has retained the above bonds.