Result of AGM

British Land Co PLC
17 July 2002

THE BRITISH LAND COMPANY PLC

RESULT OF ANNUAL GENERAL MEETING

16th July 2002



The Board of British Land announces the results of the poll taken at the Annual
General Meeting of the Company held earlier today. Votes (including abstentions)
were cast for a total of 286,158,529 ordinary shares of the Company,
representing 55.2 per cent. of the issued share capital.

All the resolutions proposed by the Board were approved by substantial
majorities.

Notwithstanding Laxey's recommendation to shareholders to vote in favour of the
re-election of all the Directors subject to re-election at today's AGM
(resolutions numbered 3, 4, 5, 6 and 7), Laxey voted its shares of 46,754,556
(including borrowed stock, which, as notified on 15th July 2002, represented
41,707,019 shares) against such resolutions.

Excluding the votes cast by Laxey, the number of shares voted against these
resolutions are set out in the table below.

   Resolution         Votes against (excluding Laxey)          As % of issued share capital
        3                                      34,605,836                                   6.7%
        4                                      30,654,323                                   5.9%
        5                                       7,346,273                                   1.4%
        6                                      25,757,399                                   5.0%
        7                                      13,827,495                                   2.7%

The three resolutions (numbered 14, 15 and 16) proposed by Laxey were defeated
by substantial majorities. Excluding the votes cast by Laxey, the number of
shares voted for its resolutions are set out in the table below.

   Resolution           Votes for (excluding Laxey)            As % of issued share capital
       14                                      17,377,109                                   3.4%
       15                                      16,464,695                                   3.2%
       16                                      14,441,113                                   2.8%

Full details of the results of the poll are set out in the Appendix to this
announcement.

Contacts
The British Land Company PLC:
John Ritblat, Chairman                                tel: [phone]
John Weston Smith, Chief Operating Officer            tel: [phone]

Finsbury:
Edward Orlebar     )                                  tel: [phone]
Faeth Birch        )



Appendix


     RESOLUTION                                    VOTES                                              ABSTENTIONS
                                       For                                 Against
                             Shares              As % of           Shares             As % of            Shares
                                               votes cast (1)                       votes cast (1)
Resolutions proposed by the Board
         1                   283,997,269            99.7              799,188         0.3                1,362,072
         2                   286,066,217           100.0               27,358         0.0                   64,954
         3                   154,622,582            65.5           81,360,392 (2)    34.5               50,175,555
         4                   203,891,310            72.5           77,408,879 (2)    27.5                4,858,340
         5                   226,072,746            80.7           54,100,829 (2)    19.3                5,984,954
         6                   175,011,803            70.7           72,511,955 (2)    29.3               38,634,771
         7                   215,673,615            78.1           60,582,051 (2)    21.9                9.902,863
         8                   277,456,918            98.6            3,837,712         1.4                4,863,899
         9                   276,218,159            99.7              768,682         0.3                9,175,684
         10                  284,213,266            99.6            1,049,306         0.4                  895,957
         11                  283,381,711            99.3            1,880,861         0.7                  895,957
         12                  284,839,524            99.9              327,876         0.1                  991,129
         13                  264,752,393            97.6            6,663,071         2.4               14,773,065
Laxey Resolutions
         14                   64,131,665 (2)        23.4          209,642,481        76.6               12,384,383
         15                   63,219,251 (2)        22.3          219,883,295        77.7                3,055,983
         16                   61,195,669 (2)        21.6          221,907,498        78.4                3,055,362

(Note 1): Excludes abstentions

(Note 2): Includes 46,754,556 shares voted by Laxey



Note to Editors

The resolutions voted on at the AGM today were as follows:

1.     To receive the Report of the Directors and audited Accounts for the year
       ended 31 March 2002.

2.     To declare a Final Dividend for the year ended 31 March 2002.

3.     To re-elect Mr J H Ritblat as a Director.

4.     To re-elect Mr C Metliss as a Director.

5.     To re-elect Mr J H Weston Smith as a Director.

6.     To re-elect Mr M J Cassidy as a Director.

7.     To re-elect Mr G C Roberts as a Director.

8.     To appoint Deloitte & Touche as Auditors.

9.     To authorise the Directors to fix the remuneration of the Auditors.

10.    As Special Business:
       To amend by Ordinary Resolution the directors' authority to allot 
       unissued share capital or convertible securities. 
       (Section 80 Companies Act 1985).

11.    As Special Business:
       To renew by Special Resolution the limited waiver of pre-emption rights 
       attaching to future issues of equity securities. (Section 89(1) 
       Companies Act 1985).

12.    As Special Business:
       To grant by Special Resolution authority to the Company to exercise its 
       power to purchase its own shares.

13.    As Special Business:
       To approve by Ordinary Resolution the policy set out in the Remuneration 
       Report.

14.    As Special Business:
       To urge by Ordinary Resolution the directors to formulate proposals under 
       which shareholders may tender shares for repurchase and cancellation for 
       up to 10% of the Company's issued share capital
       for not less than £7 per share.

15.    As Special Business:
       To urge by Ordinary Resolution the directors to formulate proposals under 
       which the Company would conditionally invite all ordinary shareholders to 
       tender their shares for repurchase and cancellation on a twice yearly 
       basis at a price of 90 per cent. of the diluted net asset value per
       share.

16.    As Special Business:
       To urge by Ordinary Resolution the directors to formulate proposals under 
       which the Company would place a substantial proportion of its long term 
       investment assets under management by professional property managers.





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