Holding(s) in Company

British Land Co PLC
17 May 2002



The British Land Company PLC announces that it received notification on 16 May
2002, pursuant to sections 198-202 of the Companies Act 1985, that Merrill Lynch
& Co. Inc's aggregate interest in the Company is 57,160,591 ordinary 25p shares,
representing 11.02% of the issued share capital of the Company. Details of this
disclosure of interest by Merrill Lynch are as follows:



ML Invest Holdings Limited, ML Invest, Inc being certain holding companies of
Merrill Lynch Investment Managers Limited's ( 'MLIM' ) have interests, through
MLIM, in the share capital of the Company as follows:


Registered Holder                                              Number of shares


Nutraco Nominees Limited                                       27,192,737
(Designated & Undesignated)


Treasury of the Government of Isle of Man                         275,388
A/C 5


Treasury of the Government of Isle of Man                         121,500
A/C 10


Stamford Nominees Limited                                          11,000




Merrill Lynch Pension Nominees Limited                          1,206,346
A/C Noncert


Stamford Nominees Limited                                          36,000
A/C Charty


Chase Nominees Limited                                          6,067,119


Nortrust Nominees Limited                                       2,457,165


Bank of New York Nominees Limited                                 618,247


RBSTB Nominees Limited                                          1,221,776


Junction Nominees Limited                                       5,094,068


MSS Nominees Limited                                              316,489


State Street Nominees Limited                                     278,777


29 Gracechurch Street Nominees Limited                            748,827


Brown Bros Harriman Nominees Limited                               95,000

BT Globenet Nominees LImited                                      179,700

Other Names                                                    10,914,462


Total                                                          56,834,601



Merrill Lynch & Co., Inc and Merrill Lynch Group Inc, which are holding
companies of MLIM and of certain other companies, have interests in aggregate in
the relevant share capital of the Company as follows:



Merrill Lynch & Co., Inc                                             57,160,591

Merrill Lynch Group, Inc                                            57,022,945



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