Substantial Interest

British Land Co PLC
17 July 2000

The British Land Company PLC announces that it received notification today,
under the Companies Act 1985, section 198, that the interest of Schroder
Investment Management Limited and its subsidiaries and affiliated companies in
the ordinary share capital of the Company is 73,048,681 shares, representing
14.1% of the total issued share capital.

By virtue of section 203 Schroders plc are also deemed to be interested in the
above shares.