Acquisition

Land Securities Group Plc
27 July 2004

27 July 2004



LAND SECURITIES PURCHASES GREATER LONDON HOUSE, NW1



Land Securities Group PLC ('Land Securities') has exchanged contracts with
Blackstone/JER Partners/Resolution for the acquisition of Greater London House,
NW1 for approximately £113 million, to show an initial yield of 6.8%.



The 30,907 sq m (332,678 sq ft) freehold office building currently provides a
total gross rental income in excess of £7.79 million per annum.



Constructed in the 1920's, the property underwent an extensive refurbishment in
1999 and now provides modern office accommodation over ground and six upper
floors and some of the largest floor plates in the West End.  Within a prominent
location in what is now an important technology and media destination, the
property benefits from strong tenants including Young & Rubicam Holdings and
Bertelsmann Books and Magazines.



Commenting on the purchase, Francis Salway, Group Chief Executive of Land
Securities, said:



'This purchase is consistent with Land Securities' strategy of focusing on
London office investments with the potential for future income growth.
Currently let at low rentals, averaging just over £23.00 per sq ft, Greater
London House offers extremely good opportunities for rental growth as the London
office market recovers.'



Land Securities was advised on the purchase by Jones Lang LaSalle and Nabarro
Nathanson. Blackstone/JER Partners/Resolution were advised by Franc Warwick and
Clifford Chance.



                                     -ends-



For further information please contact:



Emma Denne/Francis Salway

Land Securities

Tel: [phone]



Stephanie Highett/Dido Laurimore

Financial Dynamics

Tel: [phone]





Notes to editors





Land Securities



Land Securities is a FTSE 100 company, quoted on the London Stock Exchange.  Its
market capitalisation is £5.5 billion(June 2004).It has been at the forefront
of the UK's commercial property industry for 60 years.  Today, the Group
maintains its market leading position as the UK's largest quoted property
company by providing commercial accommodation and property services to a wide
range of occupiers. The Group's objective is to create attractive and
sustainable returns for its shareholders through its activities, which include
property investment, development and property outsourcing.



Land Securities invests in four sectors of the commercial property market:
Central London offices, shopping centres and shops, out of town retail parks
across the UK and south-east industrial properties.  The Group's £8 billion
investment portfolio includes16 shopping centres across the UK, from Almondvale
Centre, Livingston to Gunwharf Quays in Portsmouth, 23 retail parks and over
735,000 sq m of office space in Central London.



Land Securities has a substantial development programme with over 20 development
projects either underway or being planned.  Projects include regeneration
schemes in historic British cities, three major retail-led urban regeneration
schemes and eight Central London developments. The Group is also masterplanning
one of Europe's largest regeneration schemes in Kent Thameside and has over
32,000 sq m of retail and industrial warehousing currently under development.



The Group is committed to environmental initiatives and community involvement.
This has been recognised by the Group's inclusion in the BiTC Corporate
Responsibilty Index, FTSE4Good Index and the Dow Jones Sustainability Index.
Its environmental performance has been recognised by the award of three Green
Apple Environment Awards and receiving ISO14001 accreditation for its work with
the DWP.




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