Directors' Notification of Dealing in Shares

Land Securities PLC
1 September 2000

Letter to:  Company Announcements Office

Land Securities 1989 Profit Sharing Scheme

In accordance with the Trust Deed of the above 748 Ordinary shares of £1 each in
this Company have been sold or transferred by participants during the month of
August 2000 at an average price of £7.95p.

Three of the Directors of this Company are Trustees of the Scheme.  Would you 
please therefore amend your records to show their current non-beneficial
holdings as follows:

                         Ordinary shares of £1 each

                I J Henderson               72,025
                J I K Murray                72,025
                M R Griffiths               72,025

Letter from: Land Securities plc