Recent Lettings

British Land Co PLC
29 April 2002



                                           29th April 2002


BRITISH LAND EXPANDS RETAIL WAREHOUSE HOLDINGS

British Land, which has investments in 74 retail warehouse properties comprising
5.5 million sq. ft., including its joint ventures, has agreed the following
lettings:-

•          With Comet Group Plc for the construction and letting of 30,000 sq.
ft. of retail warehouse accommodation at Phase II, Teesside Retail Park,
Stockton on Tees, British Land's largest retail park investment. Completion of
the project is anticipated in September.


•          With Comet Group Plc for the construction and letting of 20,000 sq.
ft. of retail warehouse accommodation at The Tollgate Centre, Colchester where
British Land is undertaking a £6 million refurbishment. Completion of the
project is anticipated in July.


•          With DSG Retail Limited (Currys) and JJB Sports Plc for the
refurbishment and re-letting for retail use of a total of 25,000 sq. ft. 
comprising a former bingo hall at New Cross Gate Retail Park, London SE14.


•          With Argos Limited for the refurbishment and letting of a 10,000 sq.
ft. unit at Westside Retail Park, Guiseley.


Rents secured on these lettings range from £14 per sq. ft. to £18.50 per sq. ft.


Following the lettings, British Land will lease some 680,000 sq. ft. of retail
warehouse floor space to these four national retailers.


Bob Bowden, Director of British Land said "These new lettings demonstrate the
demand for quality retail warehouse space. We continue to have confidence in the
significant long term rental growth potential for this sector".


Contacts

The British Land Company PLC:
            R E Bowden, Director              tel: [phone]

Finsbury:
            Edward Orlebar                       tel: [phone]


                      This information is provided by RNS
            The company news service from the London Stock Exchange