Lord Mayor Announces New Regeneration Initiative

British Land Co PLC
17 March 2000

                 A Beacon for The City of London

         Lord Mayor Announces new Regeneration Initiative

Today, The Lord Mayor of London, Alderman Clive Martin, will launch the
Corporation of London's plans to create a better street environment for City
workers and visitors.  This will include: more trees to be planted in the City;
more street seating; extended pedestrianisation; more sculptures/art, and public
entertainment in streets and open places.

He will be announcing this initiative at the new Marketing Building for British
Land's Plantation Place, Fenchurch Street, EC3 development.

Commenting on this initiative, The Lord Mayor said:

'The Corporation of London is delighted to be working together with private
sector companies, such as British Land, to improve the street environment. 
People work so hard in the City and it is important that their surroundings are
as pleasant as possible.'

Designed by leading architects Arup Associates, Plantation Place is a major new
development in the heart of the City.  It is a freehold island site with
extensive frontages to Fenchurch Street, Mincing Lane, Rood Lane and Eastcheap.
Planning permission has been obtained, the site cleared and enabling works
started.

Plantation Place can provide up to 61,500 sq m (662,000 sq ft) of highly
efficient, flexible accommodation, including standard office floor plates and
large dealing floors, making it suitable for the full spectrum of City uses,
including banking, professional and insurance.

As part of the environmental design the upper floors will have a series of
magnificent roof gardens totalling 3,100 sq m (33,370 sq ft) and offering the
occupiers a facility unprecedented in the City in scale and quality.

Marking the development is a new 27 metre tall beacon made from structural glass
and stainless steel.  By night the structure is invisible, leaving a vertical
series of glass discs glowing in the sky.

The beacon stands on a limestone podium leading to the marketing suite and
giving views over the site.

British Land's Chairman, John Ritblat said 'The Plantation Place beacon shows
our commitment to high quality new architecture and is an exciting addition to
the City, where we are long term investors and developers.  It looks stunning
and sets the scene for Plantation Place.  The roof gardens will be magnificent
and are on a scale unprecedented in the City.  They will look spectacular from
the street but offer a private world for the office occupiers.  The gardens will
be varied to suit the varying levels and aspects of the terraces and have
planting depths for trees of up to 9m (30 feet) tall'.

Contacts:

John Ritblat, Chairman              ) The British Land Company PLC
Paul Burgess, Leasing Executive     )  0207 486 4466

Kate Power, Director                )  Bell Pottinger Financial
                                    )  0207 353 9203