Convertible Bonds

Land Securities PLC
7 June 2002


LAND SECURITIES PLC


Land Securities Finance (Jersey) Limited

6 per cent. Guaranteed Convertible Bonds due 2007

Guaranteed by Land Securities PLC

Further to the announcement of 6 June, 2002, Cazenove has purchased for
cancellation a further £15,900,000 nominal amount of these bonds as agent for
Land Securities PLC. Following these transactions and conversions to date,
£124,409,000 nominal amount of these bonds remain outstanding.

Land Securities PLC may continue to respond to market offers of both series of
bonds through Cazenove if these are made at attractive levels.

Contact:

Land Securities PLC: Andrew Macfarlane, 020 7413 9000

Cazenove: Roger Clough/Simon Smith, 020 7588 2828


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