Holding(s) in Company

British Land Co PLC
25 July 2002


The Board of The British Land Company PLC announced on 24 July 2002 that Laxey
Partners Limited had an interest on 23 July 2002 in 4,845,139 ordinary shares of
25p each of the Company, following the return since 16 July 2002 of 42,361,019
borrowed shares. The Company believes that its announcement of 24 July 2002
correctly reflected the responses to Notices served under Section 212 of the
Companies Act 1985 received by the Company prior to such announcement.

Laxey Partners Limited has subsequently notified the Company that its
announcement of 24 July 2002 was inaccurate, and that on 24 July 2002 Laxey
Partners Limited had an interest in 15,875,325 ordinary shares of 25p each of
the Company, including 10,073,758 contracts for difference, representing 3.06
per cent. of the issued share capital.




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