Rent Reviews

British Land Co PLC
18 March 2003

18th March 2003

                         Retail Warehouse Rent Reviews

The British Land Company PLC is pleased to announce the following rent reviews
which give a total new rent for these properties of £5,844,367 on 35,674 sq m
(384,000 sq ft) of space.


•           Westgate Retail Park, Wakefield - The first round of reviews since
BL Universal's (British Land's joint venture with GUS) purchase of this 19,509
sq m (210,000 sq. ft.) retail and leisure park in 1998 have been settled. 10
units, totalling 13,935 sq m (150,000 sq. ft.) were involved and settlements
were ahead of BLU's independent valuers' forecast of rental value.

•           Marsh Mills Retail Park, Plymouth - The last review of all 6 units
at this 10,405 sq m (112,000 sq. ft.) scheme was settled recently continuing the
trend of settlements significantly above independent valuation levels. The
property is held by BLT Properties Limited, the first of British Land's three
joint ventures with Tesco.

•           Portrack Lane, Stockton on Tees  - The review of this 11,334 sq m
(122,000 sq. ft.) B&Q Warehouse was settled recently in line with independent
valuation expectations.

The growth shown by these settlements underpins British Land's commitment to
this sector.


For further information, please contact:

The British Land Company PLC:

John Ritblat, Chairman                           tel no: 020 7467 2831/2829
John Weston Smith, Chief Operating Officer       tel no: 020 7467 2899



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