Property Purchase

British Land Co PLC
29 March 2006


                                                                   29 March 2006


               BRITISH LAND PURCHASES ROPEMAKER PLACE, LONDON EC2

The British Land Company PLC announces the purchase, for a price in excess of
£130 million of the units in The Ropemaker Place Property Unit Trust from
Grandbesitz-invest, the German open ended fund advised by DB Real Estate. The
Trust owns the freehold interest in Ropemaker Place, an island site of just over
one acre fronting Ropemaker Street, London EC2. The site has detailed planning
consent for 505,000 square feet of offices.

Bob Bowden, Property Investment Director of British Land commented:

"This is a cleared site ready to go. Construction will start later this year for
delivery to the market in the first quarter of 2009, which fits in with our
forecast timing when we expect City rental growth to put rents significantly
higher than today.

This enhances our City development programme where we have under construction
The Willis Building (475,000 sq ft) which completes first quarter 2007; Ludgate
West (127,000 square feet) for delivery in November 2007 and 201 Bishopsgate
(822,000 square feet) completing in mid 2008. We also have planning consent for
122 Leadenhall Street of 601,000 square feet, where we anticipate delivery in
mid 2010."

Agents acting for the Vendor were Jones Lang LaSalle.


Contacts

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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