Sale

British Land Co PLC
20 February 2006



                                                              20 February 2006


British Land Sells £300 million Residential Property Investment Portfolio to
Insight Investment


The British Land Company PLC ("British Land") has contracted to sell its
interests in its residential property investment portfolio to clients of Insight
Investment for a total consideration of approximately £300 million (being the
most recently reported net asset value). At the same time a subsidiary of
British Land has entered into a contract under which it will provide on-going
asset management services for the portfolio.

Stephen Hester, Chief Executive of British Land, commented: "The sale of these
residential assets results from our continuing review of the portfolio to
identify non-core assets for disposal. We are also pleased to be utilising our
asset management expertise in the sector on an ongoing basis as advisers to
Insight, thereby extending the fund management track record and earnings of
British Land. We look forward to a fruitful partnership and helping them to
build a leadership position in this sector."



Contacts

The British Land Company PLC:
Stephen Hester                                             020 7467 3500
John Weston Smith                                          020 7467 2899

Finsbury:       
Ed Orlebar                                                 020 7251 3801

Insight Investment:
Press Office                                               020 7321 1358



                      This information is provided by RNS
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