Substantial Interests

British Land Co PLC
8 August 2000


The British Land Company PLC announces that it received the following
notification today pursuant to sections 198-202 of the Companies Act 1985:

that FMR Corp. (the parent holding company of Fidelity Management and Research
Company and Fidelity Management Trust Company)and Fidelity International
Limited (the parent company of Fidelity Investment Services Limited and
Fidelity Pension Management)are interested in 21,439,307 ordinary shares of
25p each of the Company, which represents 4.14% of the total issued ordinary
capital.

The company also received notice that Mr Edward C Johnson 3rd, the principal
shareholder of FMR Corp. and Fidelity International Limited, was also deemed
to be interested in those shares.

The registered holders of those shares are as follows:

Registered Holder                               Number of shares

State Street Nominees Limited                   5,806,360
Chase Nominees Limited                          4,823,123
Lloyds Bank Nominees Limited                     15,400
State Street Nominees Limited                   40,000
Lloyds Bank Nominees Limited                     507,700
Bank of New York - Europe                       73,200
Nortrust Nominees Limited                       52,000
Clydesdale Bank (Head Office) Nominees Limited  1,826,363
MSS Nominees Limited                            6,067,100
Chase Nominees Limited                          57,200
Clydesdale Bank (Head Office) Nominees Limited  122,800
Nortrust Nominees Limited                       222,100
NAB - Australia                                 178,277
Northern Trust                                  65,200
State Street Bank & Trust                       27,100
Credit Suisse                                   20,500
RBS Trust Bank                                  94,500
Other                                           26,700

Interests in Ordinary Shares arising from interests in convertible bonds:

Clydesdale Bank (Head Office) Nominees Limited  372,022
MSS Nominees Limited                            223,213  
Other                                           818,449
              
Total = 21,439,307