Pre-Letting

British Land Co PLC
23 November 2004


                                                             23rd November 2004


                    MAJOR CITY PRE-LET SIGNED BY BRITISH LAND


The British Land Company PLC has entered into a binding agreement to
pre-let two new buildings at 51 Lime Street and Fenchurch Avenue, London EC3 to
Willis, leading risk management and insurance intermediaries.

A new planning application has been submitted to supersede the existing consent.
It is for two buildings of striking design by Foster and Partners, which will
provide Willis with 465,000 sq ft (43,200 sq m) of high quality accommodation
directly opposite Lloyd's Insurance market.

Willis will enter into 25 year leases without breaks. There are no take-backs of
existing Willis buildings involved.

British Land Chairman John Ritblat said, "We are pleased to be in business with
Willis who will get a stunning new headquarters. This deal demonstrates again
British Land's commitment to providing occupiers with the best buildings in the
best locations".

Demolition of the existing buildings on the site is advanced and the programme
for the new buildings provides for completion for Willis's occupation in 2008.



Contact

The British Land Company PLC:
John Weston Smith                                                 020 7467 2899
Nigel Webb                                                        020 7467 2860

Finsbury:
Edward Orlebar                                                    020 7251 3801




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