Statement re Haslemere N.V.

British Land Co PLC
13 March 2002


                                                                13th March, 2002



                     BRITISH LAND'S STAKE IN HASLEMERE N.V.



The British Land Company PLC announces that its wholly owned subsidiary,
Boldswitch Ltd., has entered into put and call arrangements, expiring on 20th
March 2002, in respect of its holding of 2,390,141 ordinary shares in Haslemere
N.V.


If a sale arises as a result of these arrangements, over cost, which was £61.3
million, the profit would be expected to be approximately £32 million.




Contacts



The British Land Company PLC

John Ritblat, Chairman                        )     tel: [phone]

John Weston Smith, Finance Director           )     tel: [phone]







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