Acquisition

Land Securities Group Plc
13 June 2005

13 June 2005



LAND SECURITIES GROUP PLC ('Land Securities')



Land Securities acquires Lxb Properties Ltd



Land Securities announces that it has exchanged contracts to acquire Lxb, a
private specialist retail warehouse and supermarket investor, for a cash
consideration of approximately £360m.



The acquisition comprises;



•         Two retail warehouse assets:

     o   Bracknell, a 165,000 sq ft multi-tenanted 8 unit retail warehouse park

     o   Chester, a 150,500 sq ft multi-tenanted 10 unit retail warehouse park

•         A partnership interest in the A2 joint venture with Deutsche Asset
Management which owns two retail warehouse parks at Crayford, Greater London and
Strood, Kent

•         Ten supermarket assets some of which also have additional retail
warehouse units.



All 14 assets benefit from open A1 planning consents.  The retail warehouse
properties produce circa £6.3m rental income per annum (including the share of
the rental income in the A2 joint venture) with an annual income of circa £9.0m
from the supermarkets assets.  The portfolio is 26% reversionary, based on the
current configuration of the units.



Following the acquisition Land Securities will own 30 retail warehouse parks and
12 supermarket assets.  Lxb's management will retain the Lxb name and in a
separate agreement with Land Securities will be providing strategic asset
management services for the supermarket portfolio.  No Lxb employees will
transfer to Land Securities.



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



'We believe that certain segments of the out of town retail market, particularly
supermarkets and open A1 parks, will deliver the strongest future growth and it
is exactly these areas of the retail market that we are capturing through this
acquisition - building upon our market leading position in UK retail.  We are
excited by the prospects offered by this acquisition and look forward to
building on our relationship with Lxb and Deutsche as we exploit the potential
inherent in the portfolio.'



                                     -Ends-



For further information please contact -



Land Securities
Francis Salway/Melissa Winsor
020 7413 9000



Financial Dynamics
Stephanie Highett/Dido Laurimore
020 7831 3113





Note to Editors



Land Securities is a FTSE100 company, quoted on the London Stock Exchange.  It
has been at the forefront of the UK's commercial property industry for over 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, sustainable returns for its shareholders through a strategy
of investing in commercial property in markets and activities where it has
expertise and operational skills, where it can benefit from its risk management
skills and the active recycling of capital.



Land Securities holds a market leading position in three areas of the UK
commercial property market:



      Retail,
•     London offices and
•     Property outsourcing


Its £9.4 billion combined investment portfolio includes over 10 million sq feet
of office and retail space in Central London and 21 shopping centres and 26
retail parks located across the UK.



It has a substantial development programme with a number of development projects
including major retail-led urban regeneration schemes and Central London
mixed-use developments.  The Group is also master planning one of Europe's
largest regeneration schemes in Kent Thameside.



The Group leads the market in property outsourcing where, through Land
Securities Trillium, it provides accommodation and property-related services to
the Department for Work and Pensions, the BBC, Norwich Union, Barclays Bank,
DVLA and through a joint venture, Telereal, to BT.



The Group is committed to environmental initiatives and community involvement
recognised by the Group's inclusion in the BiTC Corporate Responsibility Index,
FTSE4Good Index and the Dow Jones Sustainability Index.




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