Holding(s) in Company

British Land Co PLC
22 May 2002


The British Land Company PLC announces that it received notification on 22 May
2002, pursuant to sections 198-202 of the Companies Act 1985, that Merrill Lynch
& Co. Inc's aggregate interest in the Company is 56,524,890 ordinary 25p shares,
representing 10.90% 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                                27,182,920
(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                                  6,516,498


Nortrust Nominees Limited                               5,304,944


Bank of New York Nominees Limited                       7,175,771


Junction Nominees Limited                               5,094,068


HSBC Nominees Limited                                   197,725


State Street Nominees Limited                           877,379


Morgan Nominees Limited                                 583,430


Other Names                                             1,752,198


Total                                                   56,335,167




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                                56,524,890

Merrill Lynch Group, Inc                                56,335,167



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